Prime accused in fake online share trading scam arrested in Wayanad

The Kannur Town police arrested the prime accused in a fake online share trading scam that defrauded a Pallikunnu resident of ₹43 lakh.

The suspect, Adarsh Kumar, 24, of Virajpet in Coorg, was nabbed by Town inspector Sreejith Koderi and his team at Kattikulam in Wayanad.

The case dates back to June last year when the victim, lured by a Facebook advertisement, invested in share trading, initially recovering ₹9 lakh. Encouraged by early profits, the victim gradually invested a total of ₹43 lakh. However, despite promises of continued profit, the funds disappeared, leading to the realisation that the scheme was fraudulent. The victim then sought police assistance.

After a year-long investigation, the police tracked down Adarsh Kumar, who is believed to be a key member of the gang behind the scam.

The investigation team comprised sub inspectors Shameel and Pradeepan, assistant sub inspector Rajesh, and civil police officer Vinil. The police are on the lookout for the other gang members.

Published - September 20, 2024 11:06 pm IST