The Udupi police have arrested four individuals in connection with a major online trading fraud that resulted in a man losing Rs 33.10 lakh. The arrested suspects are identified as Mahammed Mustafa P (36) from Kuriya in Puttur, Khalid B (from Bambrana, Kumble), Mohammed Safan K A (22) from Neerchal in Kasargod, and Sathish Shet (22) from Bejai, Mangaluru. The police recovered Rs 13 lakh in cash and five mobile phones from the accused.
The case came to light when one Upendra Bhat filed a complaint at the Udupi CEN station. According to the complaint, Bhat was contacted via WhatsApp by unknown individuals, who added him to the Motilal Oswal Private Wealth Management Group. The fraudsters provided him with an account number linked to the group and promised substantial profits through online trading. Trusting them, Bhat invested Rs 33.10 lakh, but soon realized he had been cheated.
A case was registered under Section 66 (C) (D) of the IT Act, and a special team was formed to investigate. Under the direction of Udupi Superintendent of Police Dr. Arun K, and Additional SPs Siddalingaiah T S and Parameshwar Hegde, the team, led by CEN Inspector Ramachandra Nayak, successfully arrested the four suspects. The prime accused remains at large, and efforts are ongoing to trace him.
This arrest underscores the growing concern over online frauds and the need for vigilance when dealing with online trading platforms.