The Kannur Cyber Crime Police have arrested two men from Kasaragod on Saturday, November 16, for allegedly defrauding a Chalad resident in Kannur of Rs47.31 lakh in a fake online share trading scam.
The arrested suspects, Abdul Samadani and Abdul Majeed , were taken into custody after the victim filed a complaint detailing how he was lured into an online fraud through WhatsApp.
According to the police, the accused had contacted the victim via WhatsApp, promising substantial returns on investments through a share trading platform. The victim, believing the offer to be genuine, transferred large sums of money to the fraudsters in the hope of receiving profitable returns. However, after investing Rs47.31 lakh, the victim discovered that the platform was fake, and the scammers had blocked communication, leaving him unable to recover his funds.
Following the complaint, the Kannur Cyber Crime Police initiated an investigation, leading to the swift arrest of Samadani and Majeed. Authorities are continuing to probe the case to identify any other individuals involved in the scam.