Cyber fraudsters are capitalizing on the allure of high returns from minimal investments, exploiting common people's desire for quick wealth. The latest incident occurred in Cherthala, Alapuzha district, where a doctor couple invested Rs 7.6 crores based on promises of substantial gains from shares. The police have arrested the culprits in Bengaluru, revealing the advanced technology used by the fraudsters that outpaced law enforcement efforts.
The main suspect, Bhagwan Ram D Patel (22) from Madhugiri, Tumakuru district, was apprehended for his role in identifying high-value financial transactions and informing the operators. These operators then contacted victims via telegram messages, persuading them to invest in the fraudulent share schemes. Bhagwan's share of the proceeds was 50% of the total loot.