Stock market fraud: Wife arrested, husband flees

Couple swindled ₹5.2 crore from Kozhikode native

Fathima Sumayya (25) one of the accused in the case of swindling ₹5.2 crore from a Kozhikode native, has been arrested at Bengaluru airport as when was trying to flee the country. Her husband Faisal Babu, the prime accused in the case, is absconding.

According to police reports, the couple from Vakkallur in Malappuram district, had swindled the money in instalments from the complainant in the guise that it was to be invested in stock market from October 2023 onwards. The couple had allegedly offered him huge profits. However, he approached the Pantheerankavu police in Kozhikode recently as the couple did not return either the investment or the profit.

But Faisal Babu returned ₹1.28 crore and left the country. A look-out notice was issued against Sumayya, based on which she was arrested.

There are several cases of the same nature registered against the couple in several police stations. 

Published - September 27, 2024 12:52 pm IST