Kannur, Aug 11 The Kerala Police’s cyber crime unit arrested two men from Chennai in connection with a sophisticated online trading fraud that defrauded a doctor in Kannur of Rs 4.43 crore, officials said on Monday.
The accused, identified as Mehbubasha Farooq and Rijaz, were arrested by the Kannur City Cyber Crime Police from Chennai on Sunday evening, said an officer at the Kannur Cyber Police Station.
Farooq is a resident of Chennai, while Rijaz hails from Perumbavoor in Ernakulam district and has been settled in Chennai, he added.
The duo allegedly operated a fraudulent scheme through WhatsApp, promising the victim substantial returns on investments in a fake online trading platform.
The police said that the accused lured the doctor, a resident of Mattannur in Kannur district, into a WhatsApp group that promoted an online share trading plan, assuring him of significant profits in June.
The victim was directed to deposit the funds into various bank accounts as part of a "wealth profit plan" under a fake company's guise, identified as Upstock.
“We have traced about Rs 40 lakh deposited by the accused in their accounts. Besides this, the police detected as many as 18 more accounts in the name of various individuals to transfer the money earned through online fraud. The matter is under investigation now,” said the officer.
He said that a part of the money was found to have been transferred abroad, adding that further details could not be disclosed at this stage.
He said that no terror angle was found during the investigation. Though the trading app would show the profits earned, he found the platform unresponsive and could not withdraw the amount, prompting him to approach the police to file a complaint with the police on June 25.
"The victim was led to believe he was making lucrative investments, but the entire setup was a sham," the cyber police said.
The police said the cybercrime team apprehended the accused by tracing their bank account numbers and mobile phones used for the crime. A detailed investigation was launched, and the police were able to trace the financial trail to the two accused in Chennai, leading to their apprehension.
The officer said that they are now probing the possibility of a wider network and other victims involved in this online fraud.
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