In a significant breakthrough, the Palarivattom police have arrested two individuals for defrauding a retired engineer of over Rs75 lakh through an online trading scam. The accused, Abdul Muneer (32) and his relative Mustafa (51), both residents of Palakkad, were taken into custody after the victim filed a complaint against them.
According to the police, the accused promised the victim huge profits through online trading platforms, luring him into making substantial investments. The two men convinced the retired engineer to invest large sums of money, assuring him of significant returns. However, once the victim made the payments, the suspects disappeared, and the promised profits never materialized.
The police were able to track down Abdul Muneer and Mustafa, but a manhunt is still underway for the remaining suspects involved in the scam. The authorities are investigating whether the scam was part of a larger network of fraudsters exploiting unsuspecting victims with fake online investment schemes.
The police have urged the public to be cautious when approached with “too good to be true” investment offers, particularly those related to online trading. They also emphasized the importance of verifying the legitimacy of trading platforms before making any financial commitments.