The Kaduthuruthy police have arrested two individuals for allegedly defrauding a Christian priest of ₹1.5 crore on the pretext of online trading.
The arrested were identified as Muhammed Minaj and Shamnad, both natives of Thamarassery in Kozhikode. Police said the duo were part of a North India-based online fraud syndicate.
According to the police, the racket lured the victim with promises of an exorbitant 850% profit margin. Convinced by their claims, the priest borrowed money from friends and relatives to invest in the fraudulent scheme. The scam took place between November 2024 and January 15 this year.
A preliminary investigation revealed that the funds collected from the victim were funneled into bank accounts in north India. Further inquiries confirmed that ₹1.40 lakh had been withdrawn from various ATMs across Kerala. This discovery led the police to track down and arrest the duo.
A probe is on to trace the remaining accused in the case.
Published – February 02, 2025 06:07 pm IST