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Hill Palace police have arrested two youths in connection with a major online stock trading scam that caused a Thiruvankulam-based businessman to lose nearly Rs1.08 crore.
The accused have been identified as Adil Meeran (23) from Pothanikkad and Mohammed Yasin (22) from Thodupuzha. Police investigations revealed that the duo’s bank accounts were used to route the complainant’s money during the fraudulent stock trading operations.
The arrests were made on Monday night following a thorough probe by the cybercrime team. Further investigations are ongoing to identify any accomplices and recover the defrauded amount.
