Malappuram, Sep 27 ( IANS) An audacious case of fraud has come to light with the arrest of a former student who swindled his ex-teacher out of Rs 27.5 lakh and 21 sovereigns of gold.
The accused, Neeliyath Varkkal Firoz (51), a native of Thalakkadathur, Malappuram, was arrested along with his wife Ramlath (45) after months of investigation by the Parappanangadi Police.
According to officials, the scam was rooted in a chance reunion.
Firoz reconnected with his former teacher, who had taught him between 1988 and 1990 at an alumni meet, renewing ties after 31 years.
Exploiting the trust and emotional bond, he soon visited her home with his wife and convinced her to invest in a supposed gold-related business.
Police said Firoz initially borrowed Rs 1 lakh, repaying Rs 4,000 as profit. He later took another Rs 3 lakh and returned Rs 12,000 as profit share, thereby winning her confidence.
Over time, he collected money in multiple instalments, amounting to Rs 27.5 lakh.
When the promised profits stopped, he persuaded her again, this time taking 21 sovereigns of gold under the pretext of expanding the business.
Investigations revealed he pawned and later sold the gold.
Following the fraud, Firoz disappeared, switching off his phone and settling in Hassan, Karnataka, where he and his wife reportedly led a lavish lifestyle.
Acting on intelligence, Inspector Vinod Valiyattoor and his team tracked and arrested the couple.
While Ramlath was later released on bail, police continue probing her role in facilitating the scam.
Authorities have urged the public to be cautious in financial dealings, even with acquaintances or long-trusted individuals.
The case has sparked widespread discussions across Malappuram, highlighting how misplaced trust can be ruthlessly exploited.
With Firoz now in custody, investigators are working to recover the embezzled assets and ensure accountability, underscoring that such calculated frauds will not go unpunished.
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