Kochi Police File Cheating Case in Rs 1.21 Crore Online Trading Scam
The Hill Palace police station in Kochi has officially registered a cheating case against three individuals from Tripunithura for allegedly defrauding a 53-year-old man from Choorakkad of a staggering Rs 1.21 crore. This incident highlights the growing threat of online financial fraud in the region.
Details of the Alleged Fraud
According to the police complaint, the accused contacted the victim with promises of huge profits through online trading. They persuaded him to register on a specific online platform, which they claimed would facilitate these lucrative returns. The fraudsters then systematically swindled the amount from the victim's account over a period from November 21, 2025, to January 14, 2026.
Victim's Complaint and Police Action
The victim approached the Hill Palace police after the accused failed to deliver on their promises. Not only did they not return the promised profits, but they also refused to refund the invested amount. This prompted the victim to file a formal complaint, leading to the registration of the cheating case. The police are now investigating the matter to trace the accused and recover the stolen funds.
Broader Implications and Warnings
This case serves as a stark reminder of the risks associated with online investment schemes. Authorities urge the public to exercise caution and verify the legitimacy of such platforms before investing large sums. The incident underscores the need for increased awareness and stricter regulations to combat online financial fraud in Kerala and beyond.
