Another Arrest Made in ₹4.43 Crore Online Share Trading Scam Targeting Doctor
Mattannur, Kannur: Police have arrested Sainul Abid (41) in connection with an online share trading scam that defrauded a doctor of ₹4.43 crore. This latest arrest follows the earlier apprehension of Mahabubha Farooq and rajaz in Chennai. Abid was apprehended in Vishakhapatnam.
The scam involved luring the victim thru WhatsApp into investing in a fake share trading application. Accused individuals created a WhatsApp group with the doctor, promising ample profits.The application falsely displayed important gains,but when the doctor attempted to withdraw funds,the accused repeatedly cited technical issues. The victim was ultimately unable to access the invested money. The ₹4.43 crore was transferred via ATM and through the sharing of OTPs.
This case highlights the growing threat of sophisticated online investment fraud targeting individuals with promises of high returns. Authorities continue to investigate the network behind the scam and warn the public to exercise extreme caution when considering online investment opportunities, particularly those promoted through social media platforms. The arrested individuals face charges related to online fraud and conspiracy.
