In a recent development in an ongoing online trading fraud investigation, the Udupi police have apprehended Ajmal Suhail, a 19-year-old resident of Kozhikode, Kerala. Suhail was arrested with ₹80,000 in cash, believed to be linked to the scam.
The fraud came to light following a complaint by Upendra Ambalapadi from Udupi. Ambalapadi reported that he was added to a WhatsApp group named “Motilal Oswal Private Limited Management Group,” where he was introduced to a trading account with the number VIP-203-845. The group promised high returns and dividends through trading activities.
Ambalapadi, trusting the group’s claims, deposited ₹33,10,000 into the provided account, based on information and assurances received through WhatsApp messages from numbers 7842874635 and 6391854496. However, after the deposit, he did not receive the promised returns or his initial investment back, leading to the realization of the fraud.
The Udupi South Police Station has now arrested four individuals connected to the scam and has seized a total of ₹13,00,000 in cash. The investigation is ongoing, with Ajmal Suhail being the latest suspect to be apprehended. The authorities are continuing their efforts to identify and arrest additional individuals involved in this fraudulent scheme.
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