Kerala Investor Falls Victim to ₹1.19 Crore Scam through Fake Trading Apps

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Thiruvananthapuram Cybercrime Police Arrest Man Behind ₹1.19 Crore Online Investment Scam

A 47-year-old individual has been arrested by the Thiruvananthapuram cybercrime police for allegedly duping a victim out of ₹1.19 crore through fake trading apps and digital manipulation.

The accused, a resident of Kannadi in Palakkad district, posed as a representative of a reputable United Kingdom-based investment company on social media platforms, promising unusually high returns on investments in their trading platform.

The victim, a resident of Kadakampally, was initially targeted through social media and convinced to invest money in the fraudulent trading setup. The accused used mobile applications and groups designed to resemble legitimate stock market trading platforms, displaying fabricated charts, profit margins, and account balances to create a false impression of real trading activity.

The victim transferred large sums of money into accounts provided by the accused, but was eventually denied access to his funds or promised profits.

Preliminary findings suggest that the operation was carefully structured to mimic legitimate financial trading systems and lure victims with unrealistic profit promises. The accused and his network used social engineering techniques to build trust with victims, often engaging them in groups where fake “success stories” and fabricated profit screenshots were shared to encourage further investments.

Authorities have warned the public against falling for such investment schemes promoted through social media platforms, emphasizing that legitimate trading platforms are regulated by SEBI and do not offer guaranteed profits.
Individuals should verify the authenticity of investment companies before transferring money and avoid joining unknown or unauthorized investment groups.

Further investigation is underway, and police expect more details to emerge as digital evidence and financial trails are analyzed in depth. The accused is currently in custody and is being interrogated to determine the full extent of the fraud, including the total number of victims and the amount of money involved.