Breakthrough in Stock Market Fraud Case: Three-Man Gang Busted in Kerala

Strategic Insights -

The special investigation team (SIT) of the Kerala city police has made a significant arrest in a stock market fraud case, recovering a substantial amount of money from a three-man gang operating from Kozhikode. The gang, consisting of Rahees P K, Ansar V, and Anees Rahman C K, had stolen Rs 24.76 crore from an Ernakulam-based pharmaceutical owner. The police commissioner, Putta Vimaladitya, confirmed that 200 SIM cards, 40 mobile phones, and details of 40 bank accounts were seized from the accused.

Key Takeaways:

  • The SIT arrested a three-member gang from Kozhikode, Rahees P K, Ansar V, and Anees Rahman C K, for their involvement in a Rs 24.76 crore stock market fraud case.
  • The police seized 200 SIM cards, 40 mobile phones, and details of 40 bank accounts from the accused, indicating their extensive operations in facilitating cybercrimes.
  • The accused sourced bank accounts from various persons based on commission to transfer the stolen money, making it challenging for the police to track the transactions.
  • Investigation revealed that the accused had used various bank accounts, including those in the names of other persons, to facilitate the transactions.
  • The police used forensic tools such as i-9, UFED, Cyniq, and Osint Tools to track the accused and recover the stolen money.
  • The investigation is ongoing to locate the website hosting and operating the racket, and efforts are being made to block access to the website.

Statistics:

  • Rs 24.76 crore: The amount stolen from the Ernakulam-based pharmaceutical owner.
  • 200 SIM cards: Seized from the accused gang.
  • 40 mobile phones: Seized from the accused gang.
  • 40 bank accounts: Seized from the accused gang.
  • 90 transactions: Initiated by the complainant to transfer funds.
  • 16th September: The date when a woman, a key player in the racket, was arrested.
  • Rs 3.4 lakh: The amount stolen by the accused from the stolen money.

Sources:

  • City police commissioner Putta Vimaladitya.
  • Times of India.
  • Kerala city police special investigation team (SIT) report.