The Puducherry Cyber Crime Wing has arrested a 45-year-old man from Kerala for allegedly orchestrating a stock market investment scam that defrauded a victim of Rd21 lakh through a fake WhatsApp group.
The accused, Seenu Ramakrishnan from Malappuram, Kerala, is believed to have provided bank accounts used to facilitate the flow of illicit funds connected to the fraud. According to police, the victim was drawn into a bogus stock trading group on WhatsApp with promises of high returns. However, after transferring large sums, the victim realized he had fallen prey to a well-organized cyber fraud syndicate.
Investigations indicate that Seenu played a pivotal role in enabling manual financial transactions between the victim and the syndicate. The police suspect that the fraud could be part of a larger scam network involving transactions worth approximately Rd5 crore.
Sources revealed that authorities are actively working to trace other syndicate members and uncover the origins of the fraudulent WhatsApp group used to lure investors. Further arrests are likely as the investigation deepens.
