Breakthrough in Online Share Trading Fraud Case: SIT Arrests Three-Member Gang

Police in Ernakulam have made significant progress in the online share trading fraud case, where a pharmaceutical owner lost Rs 24.76 crore. A three-member gang from Kozhikode was arrested, and police have seized 200 SIM cards, 40 mobile phones, and details of 40 bank accounts. The arrested individuals, Rahees P K, Ansar V, and Anees Rahman C K, were identified as key players in the fraud. The gang sourced bank accounts from various persons on commission, facilitated cybercrimes by providing accounts, and convinced the complainant to invest in stock market trading, promising high returns.

Key Takeaways:

• The arrested gang members used 200 SIM cards, 40 mobile phones, and 40 bank accounts to facilitate the fraud.
• Rahees P K, Ansar V, and Anees Rahman C K were identified as key players in the gang, with Rahees handling accounts and Anees arranging SIM cards.
• The gang sourced bank accounts from various persons on commission and used them to transfer stolen money.
• Police found that the gang convinced the complainant to invest in stock market trading, promising high returns, over a period of 2 years and 5 months, from March 15, 2023, to August 29, 2025.
• The police used forensic tools, including i-9, UFED, Cyniq, and Osint Tools, to track the accused.
• A key player in the racket, a woman, was arrested on September 16.
• Police are investigating the racket's link to Cyprus and awaiting responses from authorities in the country.

Statistics:

• Rs 24.76 crore was stolen from the complainant in the online share trading fraud case.
• Rs 40 lakh of the stolen money had been put on hold after police intervention.
• Rs 3.4 lakh was taken by the three accused from the stolen money.
• 2 years and 5 months was the duration of the fraud, from March 15, 2023, to August 29, 2025.

Sources:

• City police commissioner Putta Vimaladitya
• TIMES NEWS NETWORK