Kerala’s Alappuzha Cyber Crime Police arrested a 23-year-old man for cheating an elderly person of Rs 8.08 crore through a fake online share trading scheme. The victim was misled via WhatsApp calls, a fake app, and false profit claims.
The Alappuzha Cyber Crime Police have arrested a 23-year-old man in connection with a large online share trading fraud in which an elderly man was cheated of ₹8.08 crore. The accused contacted the victim through WhatsApp, pretending to be a representative of a reputed share trading company.
The arrest has brought attention to the rising number of cyber frauds linked to fake investment apps and social media platforms. The arrested accused has been identified as Bharathikannan Angamuthu (23), a native of Salem, Tamil Nadu. He is an automobile engineering graduate.
Police said Bharathikannan played a key role in gaining the victim’s trust and diverting large sums of money through multiple bank transactions.
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How the fraud was carried out
According to police, the fraud began with a WhatsApp call, during which the accused convinced the elderly man that he was an authorised share trading expert. The victim was then asked to install a fake mobile application named “RARCII”.
The app displayed false profit figures, making it appear that the investments were growing rapidly. To further mislead the victim, the accused added him to a WhatsApp group named “C778 Reliance Capital Innovators Hub”, where fake messages claimed that other members were earning huge profits.
Between September 24 and December 20, the victim transferred money in 73 separate transactions.
Service charge trick and company link
When the victim later attempted to withdraw the so-called profits, the fraudsters demanded additional money, claiming it was a mandatory service charge. This led to further losses.
Police revealed that the accused had started a private firm named Valiant Strive Corporation Private Limited in Salem along with his classmate Sabareesh Sekhar. The victim was made to transfer ₹35.5 lakh directly into the company’s current account.
Co-accused already in jail
The second accused, Sabareesh Sekhar, is currently lodged in Trichy Central Jail in connection with a similar cyber fraud case. The Alappuzha Cyber Crime Police confirmed that he will be formally taken into custody in this case as well.
Investigation across multiple states
Police said the fraud involved bank accounts spread across several states, making the investigation complex. Financial trails are being examined with the help of banks and cyber experts.
Authorities confirmed that a charge sheet will be filed within three months.
Police warning to the public
The Cyber Crime Police issued a strong warning, stating that nearly 90 percent of trading tips shared on social media are fake. They also clarified that share trading cannot be done without a valid Demat account.
People have been advised to avoid unknown calls, WhatsApp investment groups, and unverified mobile apps.
