Mangaluru man duped of Rs 10.55 lakh in Instagram ‘digital gold’ investment scam
Mangaluru: A 57-year-old man has allegedly been cheated of Rs 10.55 lakh by online fraudsters who lured him into investing in a so-called digital gold trading platform through Instagram, Deccan Herald reported on Tuesday.
According to the complaint, the victim was browsing Instagram at his residence on November 12, 2025, when he received a message from an account named “Suhani Patel.” The accused initiated a friendly conversation and later persuaded him to invest in the “digital gold market,” promising high returns.
The accused subsequently shared a mobile number and sent a link via WhatsApp, asking the complainant to install an application called “Kanak Daam Exchange.” Following the instructions, the victim downloaded the app and registered.
ALSO READ: Ex-Union Minister K P Unnikrishnan dies at 89
The accused told the complainant that all transactions would be handled through the app’s customer service. Following their instructions, the complainant contacted the customer service through the app and sent a message requesting US dollars in exchange for Indian rupees. He was then directed to transfer money to specific bank accounts provided by the accused.
Trusting the claims, the complainant transferred Rs 1,50,000, Rs 3,45,000 and Rs 5,60,000 in multiple transactions, amounting to a total of Rs 10,55,000.
Subsequently, the app displayed that his total investment had grown to Rs 60 lakh. However, when he attempted to withdraw the amount due to personal financial needs, the request was denied. On contacting customer service, he was informed that he would have to pay 30 per cent of the total amount as “tax” before any withdrawal could be processed.
Growing suspicious, the complainant reportedly consulted officials at Canara Bank, who advised him that it was a fraud and warned him not to transfer any more money. When he confronted the accused, the amount displayed in the app was allegedly reduced to zero, and he was blocked from further communication.
Despite further attempts to contact “Suhani Patel,” the accused allegedly continued to assure him that the lost money would be returned, before eventually blocking him.
The complainant stated that he was cheated between November 12, 2025 and February 27, 2026, and has urged police to take action against the fraudsters.
A case has been registered, and further investigation is underway.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Siddaramaiah backs TN CM's call for renewed discourse on Centre-State relations
Bengaluru (PTI): Karnataka Chief Minister Siddaramaiah has written to his counterpart in Tamil Nadu, M K Stalin, expressing the state's strong support for a renewed national discourse on Centre–State relations.
Siddaramaiah said he will urge the union government to provide an institutional platform - such as a revitalised Inter-State Council - for all states to deliberate and restore balance in our federal structure.
Taking to social media platform 'X', the Karnataka CM said federalism is not a political demand - it is part of the basic structure of our Constitution.
"Over the years, increasing centralisation in fiscal and legislative matters has disturbed the delicate balance envisioned by our Constitution makers. States must have the authority and fiscal space to fulfil the responsibilities entrusted to them. India’s strength lies in cooperative federalism, constitutional trust, and respect for diversity," he said.
He assured that Karnataka stands ready to engage constructively in strengthening India’s democratic and federal framework.
Siddaramaiah has written to the TN CM in response to Stalin's letter dated February 20, 2026, forwarding Part 1 of the report of the high-level committee on Union-State relations.
In his letter dated March 2, Siddaramaiah acknowledged and appreciated the initiative taken by the Tamil Nadu government in initiating the report, which seeks "constitutional correction".
Noting that the questions raised in the report go to the heart of India's constitutional morality, the chief minister said federalism was not an act of administrative convenience but a structural guarantee against concentration of power.
"Over the decades, however, a phenomenon of incremental centralisation has altered the federal balance through expansive interpretations of the Concurrent List, conditional fiscal transfers, centrally designed schemes with diminishing State flexibility, and procedural bottlenecks in governor's assent," Siddaramaiah said in the letter.
He claimed that what was intended as cooperative federalism has increasingly resembled "coercive federalism".
In the letter, Siddaramaiah said Karnataka shares many of the concerns articulated in the committee's report.
"We have consistently emphasised that fiscal federalism must align authority with responsibility. Articles 268 to 281, read with the role of the Finance Commission under Article 280 and the GST framework under Article 279A, cannot operate in a manner that dilutes the fiscal sovereignty of States. The doctrine of subsidiarity, that governance should occur at the most immediate level consistent with efficiency, is not alien to our constitutional design; it is implicit within it," he added.
He stressed that Karnataka, like Tamil Nadu, has been vocal in asserting the legitimate constitutional space of states, whether in matters of language policy, education, public health, fiscal devolution, or legislative autonomy.
"These are not sectional claims; they are constitutional claims. They arise from a principled commitment to pluralism, diversity, and democratic accountability," the letter stated.
At this juncture, Siddaramaiah said it is imperative that all states, irrespective of political affiliations, join hands in constructive federal dialogue. Federal renewal cannot be a solitary endeavour of one or two States; it must emerge as a collective articulation.
"The objective, as your letter rightly emphasises, is not to weaken the union but to right-size it, to ensure that national energy is concentrated on genuinely national priorities, while states are trusted with spheres constitutionally entrusted to them," he added.
In this regard, he further stated that it would be both appropriate and necessary for the union government to provide an institutional platform for all states to deliberate upon these questions.
"Whether through a revitalised Inter-State Council under Article 263, a special conclave of Chief Ministers, or a structured constitutional review dialogue, the union must facilitate a forum where states can place their recommendations formally, transparently, and deliberatively. The absence of such structured engagement has contributed to the perception that cooperative federalism has receded from lived practice," he added.
