Bhopal (Madhya Pradesh) [India], February 4 : A cyber cell team of Bhopal Crime Branch has arrested an accused involved in a share market investment fraud case amounting to Rs 9.35 lakh from Kerala's Calicut International Airport and sent him to judicial custody, according to a press release.
The accused has been identified as Nizamuddin, a resident of Kasaragod district in Kerala.
According to the crime branch, a Bhopal resident, identified as Mohammad Jainul, filed a written complaint stating that a person contacted him via a messaging app (WhatsApp) and induced him to invest in shares of a company through an app. The complainant was forced to deposit money online into multiple bank accounts, resulting in a loss of Rs 9.35 lakh.
Based on the complaint and technical evidence, a case was registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS) at the Bhopal crime branch, and an investigation was initiated. During the probe, the police found that the accused were operating from abroad and withdrawing the defrauded money through ATMs in Dubai.
The modus operandi of the crime involved initially returning the invested amount with profits to gain the victim's confidence. Once a large amount was invested, the accused blocked the victim's account on the app and stopped all communication. The money received was immediately transferred to other bank accounts and withdrawn abroad.
During the investigation, the Crime Branch's cyber cell identified Nizamuddin as the person involved in the nexus. Following which, he was arrested at the Airport while attempting to flee abroad. The police also seized one passport, one mobile phone and one SIM card from his possession.
Efforts are underway to trace the remaining absconding accused in this matter.
Additionally, the crime branch further stressed that 12 other accused from Kerala and Maharashtra were arrested in connection with the same case. These individuals were involved in opening fake bank accounts, purchasing them, and selling them to cybercriminals for a commission.
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