Kozhikode cyber police have arrested a 47-year-old man, Vimal Prathap Radia, for allegedly orchestrating a sophisticated online investment scam targeting a retired bank manager. According to authorities, Radia deceived the victim by promoting a fraudulent Forex trading opportunity, promising substantial returns on investments.
The victim, enticed by the prospect of high profits, ended up transferring Rs65.22 lakh to Radia over a period of time. The scam came to light when the promised returns never materialized, prompting the victim to file a complaint. Investigations revealed that the entire operation was a well-planned con, with Radia as the prime accused.
Cyber police officials emphasized the need for caution when dealing with online investment offers and urged the public to verify the legitimacy of such schemes before parting with their money.
