Three arrested for stock trading fraud on Facebook

PTI, Oct 23, 2024, 11:38 AM IST

Three youths have been arrested by the Kochi city police for allegedly defrauding people of Rs 52.22 lakh by promising high returns from stock market trading through a Facebook profile, police said on Wednesday.

Muhammed Altaf Hussain (21) and Muhammed Shiyas (29) from Alappuzha and Muhammed Shabib (23) from Malappuram were arrested on Tuesday following a complaint, the police said.

The trio operated the fraud by targeting individuals with promises of high profits from stock trading, after creating a Facebook profile.

A detailed inquiry is underway, said the Kochi city police.

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