The Cyber Cell of the Crime Branch in Bhopal has arrested a man from Kasaragod district in connection with a Rs9.35 lakh share market investment fraud.
The accused, Nizamuddin, was apprehended at Calicut International Airport while allegedly attempting to leave the country. After his arrest, he was produced before a court and sent to judicial custody, according to an official press release.
Complaint from Bhopal Resident
The investigation began after Mohammad Jainul, a resident of Bhopal, filed a written complaint with the police. He reported that an unknown person contacted him through WhatsApp, persuading him to invest in the stock market using a mobile application.
Trusting the scheme, the complainant transferred money to several bank accounts online. Eventually, he realised he had been cheated after losing Rs9.35 lakh.
Case Registered Under BNS
Based on the complaint and technical evidence gathered during the preliminary inquiry, the crime branch registered a case under relevant sections of the Bharatiya Nyaya Sanhita and began a detailed investigation.
During the probe, police discovered that the accused was operating the fraud from abroad and had withdrawn the defrauded money from ATMs in Dubai.
Fraud Modus Operandi
Investigators revealed that the scam followed a typical investment fraud pattern. Initially, the accused returned small profits along with the invested amount to build the victim’s trust.
Once the victim invested a larger sum, the fraudsters blocked access to the app and stopped communication. The money was then transferred to multiple bank accounts and later withdrawn outside the country.
Arrest and Seizures
The cyber cell identified Nizamuddin’s role during the investigation and tracked his movements, leading to his arrest at the airport.
Police seized the following items from him:
One passport
One mobile phone
One SIM card
Wider Cybercrime Network
Authorities also revealed that 12 other accused from Kerala and Maharashtra had already been arrested in connection with the case.
According to police, these individuals were involved in creating, buying, and selling fake bank accounts to cybercriminals in exchange for commissions.
The investigation is ongoing, and officials are working to trace other absconding suspects linked to the fraud network.
