Delhi Police have apprehended a key suspect in Kerala linked to a sophisticated investment fraud scheme that swindled victims out of over Rs 4.5 million through a fake trading platform.
Key Points
- Delhi Police arrest a key accused from Kerala in connection with an interstate investment fraud case.
- The accused, Jamsheed K, allegedly handled money in a fraud network that cheated victims of over Rs 4.5 million.
- The victim was lured through social media to invest in a fake trading platform promising high returns.
- Investigation revealed the accused's bank account was linked to over 21 cyber fraud complaints.
- The fraudulent application showed fictitious profits, but the victim was unable to withdraw the amount.
The Delhi Police has arrested a key accused from Kerala in connection with an interstate investment fraud case of over Rs 45 lakh, officials said on Monday.
The accused, Jamsheed K (33), was apprehended from Kerala's Malappuram for his role as a "money handler" in the fraud network, they said.
The police said around Rs 10 lakh of the cheated amount was traced to a bank account linked to him, which was subsequently used to layer and transfer funds.
According to the police, the case was registered following a complaint by Sandeep Kumar, who was lured through social media to invest in a fake trading platform with promises of high returns.
He was allegedly induced to transfer Rs 45.9 lakh into multiple bank accounts, they said.
The police said the application showed fictitious profits of nearly Rs 7 crore, but the victim was unable to withdraw the amount and was later asked to deposit more money.
Investigation revealed the accused's bank account was linked to over 21 cyber fraud complaints on the 'Samanvaya' portal, they said.
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