A 32-year-old man from Nilambur in Kerala’s Malappuram district has been arrested for allegedly deceiving two investors out of Rs40 lakh in an online investment scam. The accused, identified as Zaheer Khan, was tracked down by the Cyber Crime Wing of the police after complaints were filed by two victims, Kalyanasundaram from Railway Colony and Ramkumar from Sampath Nagar in the city.
Kalyanasundaram and Ramkumar claimed that they had invested Rs23 lakh and Rs17 lakh respectively in an online investment scheme, only to lose their money when the accused failed to deliver any returns. Upon receiving the complaints, the police registered two separate cases and initiated an investigation that led them to trace Zaheer Khan to his home in Nilambur.
A special police team arrested Khan and recovered Rs8.95 lakh from his possession. Khan was presented in court and subsequently remanded to judicial custody. Investigations are still ongoing, and authorities suspect that there may be more victims involved in the scam.
This case highlights the growing threat of online investment frauds, and police have urged the public to exercise caution while engaging in such schemes.