Fri Jul 18 09:26:55 UTC 2025: Okay, here’s a news article summarizing the text you provided:

**FOR IMMEDIATE RELEASE**

**Mangaluru Businessman Accused of Multi-Crore Swindle**

**MANGALURU, KARNATAKA –** A 45-year-old man from Mangaluru is under investigation for allegedly defrauding numerous businessmen and industrialists of crores of rupees through an elaborate scheme built on deception and forged trust.

According to sources familiar with the ongoing investigation, the suspect, whose name is being withheld pending formal charges, allegedly cultivated relationships with his victims by initially showcasing significant wealth and financial stability. He then reportedly established further credibility by meticulously staging legal formalities for proposed business ventures or investments.

Once the victims were convinced of the legitimacy of the deals and invested substantial sums, the suspect allegedly vanished, absconding with the funds. Authorities believe the scheme was carefully planned and executed over a period of time, allowing the suspect to amass a significant amount of money.

“This individual appears to have systematically gained the trust of his victims by projecting an image of success and adhering to legal procedures, only to exploit that trust for personal gain,” said a source close to the investigation.

Police are currently investigating the full extent of the alleged fraud, including the total amount of money involved and the number of victims. They are urging anyone who may have been a victim of this scheme to come forward and contact the local authorities. The investigation is ongoing.

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