Udupi: The Udupi police have arrested four persons for cheating a man to the tune of Rs 33.10 lakh in the name of online trading on Thursday.
Udupi Superintendent of Police Dr Arun K said that the accused have been identified as Mahammed Mustafa P (36) from Kuriya in Puttur, Khalid B from Bambrana in Kumble, Mohammed Safan K A (22) from Neerchal in Kasargod, and Sathish Shet (22) from Bejai in Mangaluru. The police have recovered Rs 13 lakh and five mobile phones from the arrested.
The police have arrested the four based on a complaint by one Upendra Bhat in Udupi. The prime accused is still at large and efforts are on to trace him, added the SP.
In a complaint to CEN station, Upendra Bhat had said unknown persons had called him via WhatsApp and added him to Motilal Oswal Private Wealth Management Group. He was given an account number of the same group as well. Later, unknown persons promised to fetch profit through online trading. Believing the fraudsters, he invested Rs 33.10 lakh. However, later he realised that he was being cheated. Accordingly, a complaint was registered at CEN Station under Sections 66 (C) (D) of IT Act.
Following the filing of an FIR, a special team was constituted to trace the accused. Under the guidance of Additional SPs Siddalingaiah T S and Parameshwar Hegde, the special team was led by CEN inspector Ramachandra Nayak.
The SP has appealed to citizens not to fall prey to such online share trading.
Published 23 August 2024, 04:48 IST