Kerala Teacher Loses Rs 95 Lakh in Online Gold Trading Scam: Two Arrested in Malappuram Cyber Fraud Case

In Kerala's Malappuram district, the Cyber Crime Police have apprehended two primary suspects involved in a significant fraud case amounting to Rs 95 lakh. The victim, a school teacher, was deceived with promises of substantial returns through online gold trading operations.

According to police reports, the perpetrators initially contacted the educator via WhatsApp, subsequently adding him to a trading group. They persuaded him that he would receive 60 percent of profits generated through gold trading activities. Trusting this lucrative offer, the victim transferred approximately Rs 95 lakh through multiple payments to various bank accounts provided by the scammers.

The deception was uncovered when the fraudsters demanded additional funds, at which point the victim realized he had fallen victim to a scam. He promptly filed a complaint through the National Cyber Crime Portal, which led the Malappuram Cyber Police to register a case and launch an investigation.

Law enforcement officials traced the financial transactions to the bank account of 20-year-old Muhammad Aslam. Further investigation revealed his associate, Muhammad Afsal, also 20, who served as an agent renting bank accounts to cybercriminals.

Investigators determined that both individuals were participants in a larger criminal network that routinely utilized rented bank accounts to facilitate cyber fraud operations. A team under the leadership of Cyber Crime Inspector Chitharanjan IC successfully arrested the two suspects.

During the arrest, authorities confiscated 15 ATM cards, 15 checkbooks, 11 passbooks, and Rs 10,400 in cash from the accused individuals. The suspects have been remanded to 14 days in custody, while investigations continue to identify and apprehend additional members of the criminal network.