Aluva police apprehended Muhammad Irfan, a 21-year-old resident of Edayanoor near Mattannur in Kannur, on Saturday. He stands accused of orchestrating a scam involving a fake online share trading application, through which he managed to siphon off Rs 51 lakh.
The victim, hailing from Manikyamangalam near Kalady, fell prey to Irfan’s scheme after being promised substantial returns on investments made through the fraudulent app. As instructed by Irfan, the victim transferred the sum of Rs 51 lakh to three different bank accounts. However, when the promised profits failed to materialize and the victim’s investments remained unaccounted for, they reported the incident to the cyber police, prompting Irfan’s arrest.
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