The Thiruvananthapuram City cyber crime police have arrested a 47-year-old man in connection with an online share trading fraud case in which over ₹1.19 crore was allegedly swindled from the victim.

The police identified the accused as Ramesh of Kannadi in Palakkad. He is suspected to be the mastermind behind the scam. A Kadakampally native was purportedly defrauded of the large sum through multiple transactions.

According to official sources, the fraudsters befriended the complainant through the social media by falsely claiming to represent a reputed U.K.-based investment company. They allegedly convinced the victim that investing in online trading would yield more than double the returns.

In order to gain the victim’s trust, the accused reportedly used mobile applications and WhatsApp groups designed to resemble genuine stock market trading platforms. The victim, falling prey to the false promises, transferred money online to bank accounts provided by the fraudsters.

He later lodged the complaint after failing to receive either the promised profit or the invested amount back.

A special investigation team, formed by District Police Chief (Thiruvananthapuram City) K. Karthick, apprehended Ramesh through cyber investigation focussing on bank transaction records and mobile tower locations. The police also seized several mobile phones, electronic gadgets and fake documents allegedly used for the fraud.

The police have warned the public against falling for huge profit offers circulated through WhatsApp and Telegram groups, and advised people to carry out trading only through SEBI-authorised brokers. Cyber fraud victims can report incidents immediately through the national helpline number 1930 or via the cybercrime portal at Cyber Crime Portal.