Cybercriminals Rob Kozhikode Businessman Of Rs 1.11 Crore Through WhatsApp Chats On Lucrative Investments

Kozhikode: In yet another cyber fraud in Kozhikode district, the cybercriminals robbed a real estate businessman of Rs. 1.11 crore. They alleged lured him with lucrative investment opportunities by forming a WhatsApp group. The victim businessman was deceived with promises of substantial profits in the share market, specifically an 850% return on investments in Initial Public Offerings (IPOs).

The fraudsters first contacted the complainant via WhatsApp, and gained his trust by adding him to a WhatsApp group consisting of five members. This group constantly featured discussions about successful investments and large profits earned by its members. Falling for these claims, the realtor invested several lakhs of rupees in over 13 transactions between March 11th and the first week of May.

The victim trusted the accused so much that for his investments, he transferred the funds to various bank accounts located in Delhi, Kolkata, and Chennai. Before transferring these amounts, he tested this system by attempting a withdrawal of Rs 100, which was successful.

Later, the promised returns were delayed, triggering the complainant to start raising his concerns over the phone. Following this, the fraudsters removed him from the WhatsApp group. Then, the businessman realized he had been defrauded and informed a lawyer friend. Based on the lawyer's advice, he filed a complaint with the police.

After receiving the complaint, the police swiftly acted and managed to freeze Rs. 36.5 lakh, which was the complainant's last investment. This amount is held in a bank account in Chennai, and it will be returned to the victim. Based on preliminary information, the cyber team has indicated that a Cambodian gang is suspected to be behind this fraud. Police also stated that the other four members in the WhatsApp group were likely to be a part of the fraud syndicate.

Investigation is on by the cyber crime police team under the supervision of Cyber Police Assistant Commissioner G. Balachandran, including CI Aagesh and SI Vinod. As per reports, two other individuals from Kozhikode have also lost significant amounts in similar scams – one losing Rs 1.16 crore and another Rs. 49 lakh. Police are preparing to register these cases soon. Due to the increasing number of cyber frauds, the authorities are urging the public to exercise caution regarding online investment offers.

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