The cyber police have arrested K.P. Muhammed Saleem (21), a native of Mukkam in Kozhikode district, for allegedly cheating a resident of Payyannur of nearly Rs1 crore by luring him into a fraudulent online share trading scheme.
The arrest was carried out by cyber inspector Krishnakumar and his team following a complaint lodged by V.V. Ganeshan, a Payyannur resident. According to the police, the accused contacted the victim through WhatsApp, impersonating a representative of an online share trading firm and promising unusually high returns on investments.
Investigations revealed that the complainant transferred Rs97.40 lakh from two of his bank accounts in Payyannur to several accounts controlled by the accused between July 3 and July 23, 2024. The money was allegedly siphoned off without any profits being paid or the principal amount returned.
After the Payyannur police registered the case, the probe was handed over to the cyber cell. The accused reportedly fled abroad soon after committing the fraud. However, police intercepted and arrested him in Kozhikode a few days ago while he was allegedly attempting to leave the country again.
Saleem was produced before the court and remanded to judicial custody. Police officials said further investigation is underway to trace the money trail and determine whether more victims were targeted in the online trading scam.
