Another Arrest Made โin โน4.43โข Crore Online Shareโ Trading Scam Targetingโข Doctor
Mattannur, Kannur: Police have arrested Sainul Abid (41)โ in connection with an online share trading scam that defrauded a doctor of โโน4.43 crore. This latest arrest follows the earlier apprehension of Mahabubha Farooqโข and rajaz in Chennai. Abid was apprehended in Vishakhapatnam.
The scam involved luring the victim thru WhatsApp into investing in โคaโ fake โshare โฃtrading application. Accused individuals created a WhatsApp group with the doctor, promising ample profits.The application falsely displayed important gains,butโค when the doctor attempted to โwithdraw funds,theโค accused repeatedly cited technical issues.โ The victim was ultimately unable to accessโ theโฃ invested money. The โน4.43 crore was transferredโข via ATM and through the sharing of OTPs.
This case highlights the growing threat of โขsophisticated online investment fraud targeting individuals with promises of high returns. Authorities continue to investigate the network behind the scam and warn the โฃpublic to exercise extreme caution when considering โonline investment opportunities, particularly those promotedโฃ through social media platforms. The โขarrestedโ individuals face charges related to online fraud and conspiracy.