Wed Jan 22 14:42:17 UTC 2025: ## Mangaluru Court Grants Bail to Student Accused in ₹37 Lakh Investment Fraud

**Mangaluru, Karnataka, January 22, 2025** – A 19-year-old ITI student from Kannur, Kerala, has been granted bail by a Mangaluru court after being arrested in connection with a ₹37.53 lakh investment fraud. M. Safwan was arrested in December 2024 following a complaint filed by a retired bank manager, Anthony George, who claimed he lost his savings to a fraudulent investment scheme operating through a WhatsApp group called “Boldgain Trade Investment.”

George alleged that the group administrator, known only as “Mr. Thank God,” convinced him to invest the money. Police investigations traced ₹25,000 of the funds to Safwan’s bank account. While Safwan claims his account was misused without his knowledge, the police arrested him based on the transaction trail. His bank account has since been frozen.

II Additional District and Sessions Judge K.P. Preethi granted Safwan bail on January 18th, citing that the allegation against him involved only a small portion of the total fraud and that a full trial is needed to prove his guilt. The judge also considered that the maximum punishment for the offense is seven years and that Safwan had already spent over a month in judicial custody. Safwan was released on a personal bond of ₹1 lakh with two local sureties. The case highlights the increasing prevalence of online investment scams and the challenges in tracing and prosecuting perpetrators.

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