In Thrissur, the Crime Branch has arrested two individuals accused of swindling over Rs 1 crore from a local resident through fraudulent investment promises. The arrested suspects are 26-year-old Muhammad Faisal from Kottanchal and 37-year-old Khader Shareef from Vengara.
The incident began in April when the accused, posing as franchisees of a company called CINV, gained the trust of a Viyyur native by discussing share trading and conducting online classes. They promised an astonishing return of over 500% on investments, convincing the victim to transfer Rs 1.24 crore across multiple transactions.
Once the victim realized they had been scammed, they promptly filed a complaint with the police. Investigations revealed that Faisal had transferred the money into the bank account of a female student who was his friend.
As the case developed, it was handed over to the City Crime Branch for further investigation, highlighting the ongoing issue of investment scams targeting unsuspecting individuals.