Three young men have been detained in Kochi for allegedly swindling individuals out of Rs52.22 lakh by promising unrealistic returns from stock market trading on Facebook.
The suspects, identified as 21-year-old Muhammed Altaf Hussain and 29-year-old Muhammed Shiyas from Alappuzha, along with 23-year-old Muhammed Shabib from Malappuram, were arrested on Tuesday following a formal complaint, according to police reports.
The trio reportedly executed the scam by enticing victims with the promise of substantial profits from stock trading, facilitated through a fabricated Facebook profile, police stated.
An extensive investigation is currently underway by the Kochi city police.