Udupi: Online trading fraud case — Another accused arrested

Team Udayavani, Sep 6, 2024, 5:48 PM IST

Udupi: The Udupi CEN Police have arrested another accused in connection with an online trading fraud case, where victims were lured with promises of high returns.

The arrested individual has been identified as Ajmal Suhail C (19), a resident of Kozhikode, Kerala. The police have recovered Rs 80,000 in cash from him.

Details of the Incident

The victim, Upendra Ambalpadi from Udupi, was contacted by unknown individuals and added to a WhatsApp group named “Motilal Oswal Private Limited Management.” The group provided an account, VIP-203-845, to the victim, who was contacted through the mobile numbers 7842874635 and 6391854496.

The fraudsters provided details about online trading and convinced the victim that significant profits could be made. Lured by the promise of high returns, the victim deposited a total of Rs 33.10 lakh into the fraudulent account. However, after the deposit, neither the investment nor the promised profits were returned, leading to the discovery of the scam.

Four accused have already been arrested in connection with this case, with Rs 1.30 lakh seized from them. Continuing their investigation, the Udupi CEN Police tracked down the absconding accused, Ajmal Suhail C, and recovered Rs 80,000 from him.