Mangaluru: Two Kerala men arrested for multi-crore bank fraud

Mangaluru: Two Kerala men arrested for multi-crore bank fraud

Mangalore Today News Network

Mangaluru, December 24, 2024: The Mangaluru City Central Police have arrested two individuals in connection with two separate cases of fraud involving the theft of crores of rupees from bank accounts in the city.

The arrested suspects have been identified as Jafar K (49) from Variyankulam, Malappuram, Palakkad, Kerala, and Akash E (22) from Chokkat, Kozhikode, Kerala, according to a statement from the City Police Commissioner’s office.

Online stock market fraud

In the first case, an unidentified person lured the victim by claiming that investing money in the stock market through WhatsApp links would yield high returns. The suspect sent a link titled "Stock Front Line" and induced the victim to invest money in phases, eventually defrauding them of ₹10,84,017.

Following a complaint filed at the Mangaluru City Central Crime Police Station, the police initiated an investigation. They traced the bank account where the funds had been transferred and found it belonged to Jafar K from Kerala. On December 23, the police traveled to Kerala, arrested the suspect, and presented him before the court.

Digital fraud and extortion threats

In the second case, an unidentified person impersonated a representative of "Troy" and called the victim, claiming that a new mobile number had been registered in their name and was being used for illegal activities in Andheri (East), Mumbai. The caller threatened that if the victim failed to contact the Andheri (East) Police Station immediately, their mobile service would be disconnected within two hours.

The fraudster further claimed that a bank account in the victim’s name had been opened at Canara Bank in Andheri and used for fraudulent activities. Using this pretense, they extorted ₹1,71,00,000 in phases from the victim’s bank account. A complaint was filed at the Mangaluru City Central Crime Police Station.

During the investigation, it was discovered that the accused, Akash E, had used his bank account for cybercrime activities. Acting swiftly, the police arrested him in Kerala.

Police team’s efforts

The operations were conducted under the guidance of Mangaluru City Police Commissioner Anupam Agarwal, DCPs Siddharth Goyal and Ravi Shankar. The team was led by ACP Ravish Nayak and Inspector Satish M.P. from the Central Police Station.

The investigation is ongoing to trace other suspects involved in the cases, according to the statement from the Police Commissioner’s office.