Kerala Arrest in Multistate Investment Fraud Case

The Delhi Police arrested Jamsheed K from Kerala, a crucial suspect in an interstate investment fraud worth over Rs 45 lakh. The fraud promised high returns to victims through a fake trading platform. Investigators linked Jamsheed K to bank accounts involved in previous cyber fraud complaints.

Delhi Police have apprehended a significant suspect, Jamsheed K, from Kerala's Malappuram district in connection with an interstate investment scam involving more than Rs 45 lakh. This suspect allegedly played a pivotal role as a 'money handler' within the fraudulent network.

Authorities disclosed that approximately Rs 10 lakh of the scammed amount was traced to Jamsheed's bank account. This account was reportedly used to obscure and transfer funds illicitly. The fraud case emerged after a complaint by Sandeep Kumar, who was deceived into investing Rs 45.9 lakh in a bogus trading platform, marketed on social media with assurances of substantial returns.

The fraudulent application displayed fictitious profits of about Rs 7 crore. However, Kumar was unable to withdraw funds and was instead pressured to deposit additional money. Police discovered that Jamsheed's account was implicated in over 21 cyber fraud complaints recorded on the 'Samanvaya' portal.

(With inputs from agencies.)