A man has been arrested in connection with a case involving the defrauding of Rs56.5 lakh from a resident of Karukutti through an online share trading scam. The accused, identified as Karthik Neelkant Jani (49), a Gujarat native currently residing in Dubai, was apprehended by the Angamaly Police after an investigation into the fraudulent activities.
The scam began when Karthik Jani contacted the victim via WhatsApp and convinced him to install a fake share trading app by clicking on a link provided by the accused. The fraudulent scheme promised huge profits from online share trading, with increasing returns offered at each level of investment. Initially, the victim was asked to make small investments, and after these were paid, the scammer sent profits to gain the victim’s trust.
Encouraged by the seemingly legitimate payouts, the victim continued to invest larger amounts, eventually transferring a total of Rs56.5 lakh. However, when the victim tried to withdraw his profits, the fraudsters stopped responding, and he realized that he had been scammed.
The Angamaly Police launched an investigation into the case, which led to the arrest of Karthik Neelkant Jani. Authorities are continuing their efforts to trace other individuals involved in the scam and have urged the public to be cautious when dealing with online investments.
This case underscores the growing problem of online fraud and scams targeting individuals through fake trading platforms. Authorities have advised people to verify the authenticity of investment opportunities and to be wary of unsolicited offers from unknown contacts, especially via social media and messaging platforms.