Advertisement
The arrested individuals involved in duping victims through fake stock market investment schemes promoted on WhatsApp, they added.
Case 1: Fraud via “Stock Front Line” Link – Accused arrested while trying to flee the country
In the first case (Crime No. 09/2024), fraudsters sent a WhatsApp link named “Stock Front Line” to the victim, luring them with promises of high returns from stock market investments. The victim eventually lost Rs 10.84 lakh in the scam.
Related Articles
Advertisement
Acting on a Lookout Circular (LOC), authorities detained Reddy at Delhi International Airport on December 18 as he tried to flee to Dubai. The police later arrested him and produced him in court.
Case 2: Scam via “IIFL Securities” Link
In another case (Crime No. 02/2024), the accused duped a victim of Rs 40.64 lakh through a WhatsApp link labelled “IIFL Securities.” The link falsely promised significant profits through stock investments.
The accused, identified as Jayant P (35) from Pulakkal House, Kozhikode, Kerala, was linked to over 90 similar complaints across India. He had used his bank account to facilitate the fraud. Jayant was apprehended in Kerala, brought to Mangaluru, and presented before the court.
Coordinated Police Efforts
Both operations were led by ACP Ravish Naik and Inspector Satish MP of the CEN Police Station, under the guidance of Mangaluru Police Commissioner Anupam Agarwal IPS, DCP (Crime and Traffic) Ravishanker, and DCP (Law and Order) Siddharth Goyal.
Police stated that investigations are ongoing to track down other suspects involved in these scams.