On Saturday, the Kollam City Cyber Police arrested two members of a cyber scam gang for defrauding numerous victims by promising large profits from share trading. The arrested individuals were identified as Shamsuddin (33) from Ponnani and Fazalu Rahman (21) from Tirurangadi. Both were apprehended from Malappuram in separate cases related to fraudulent activities.
The scam involved luring victims into WhatsApp groups with promises of substantial earnings from share trading. The accused collected personal details, including PAN, Aadhaar, and bank account information from victims. By showing fake profit figures, they gained the victims’ trust and convinced them to deposit money into various accounts.
One of the gangs extorted Rs1.37 crore from a resident of Kollam, while the other gang cheated Rs9.4 lakh from a person in Oachira. The police are continuing their investigation to identify other potential victims and recover the stolen funds.