The Kannur Town police have successfully arrested the prime accused in a fake online share trading scam that defrauded a Pallikunnu resident of a staggering Rs43 lakh.
The suspect, Adarsh Kumar, aged 24, hails from Virajpet in Coorg, and was apprehended by Town Inspector Sreejith Koderi and his team in Kattikulam, Wayanad.
According to the police, Adarsh Kumar had been operating a fraudulent scheme, luring victims into investing in fake online share trading platforms. The victim, after seeing initial returns, was convinced to invest more, only to realize later that the platform was a scam, and the money had been siphoned off by the fraudsters.
The police investigation led to Kumar’s arrest after tracking his movements, and more arrests are likely as the investigation unfolds. Authorities are now working to trace other members of the gang involved in the fraud.