In a major breakthrough in a cyber fraud case, Hill Palace police arrested two youths for their alleged involvement in an online stock trading scam that defrauded a Thiruvankulam-based businessman of approximately ₹1.08 crore.
The accused have been identified as Adil Meeran (23) from Pothanikkad and Mohammed Yasin (22) from Thodupuzha. They were taken into custody on Monday night after investigators traced transactions linked to the victim’s payments back to bank accounts held by the duo.
According to police, the businessman was lured into investing via a fake stock trading platform promoted through the messaging app Telegram. Between January and July of this year, the victim reportedly transferred ₹1.08 crore to multiple bank accounts under the impression that he was receiving high returns from a legitimate company.
The fraudulent website displayed fabricated profits, which encouraged the businessman to continue investing. Authorities confirmed that the operation was a scam, and they suspect that more individuals may be involved. Further arrests are expected as the investigation continues.
