The Mangaluru CEN police have arrested a 32-year-old man, Junaid A K from Kozhikode, Kerala, in connection with a Rs 46 lakh stock market fraud case. Police Commissioner Anupam Agrawal confirmed the arrest following the registration of the case under multiple sections of the IT Act and BNS.
According to the complaint, an unknown person approached the victim via WhatsApp, offering lucrative stock market investments. Trusting the scheme, the victim transferred Rs 46 lakh, only to realize later that it was a scam. During the investigation, police traced the funds to various bank accounts. They found that Rs 10 lakh was transferred to an account in West Bengal, and from there, Rs 5 lakh was routed to Ayesha Hadiya’s account in Kozhikode.
Further investigation revealed that Junaid A K, acting under the instructions of a man named Babu, who is based in Dubai, withdrew the funds and passed them on to a person named Muneeb. Junaid was paid a commission of Rs 5,000 for facilitating the transaction.
The police are continuing their efforts to identify and apprehend other individuals involved in the fraud. This investigation was conducted under the leadership of Mangaluru Police Commissioner Anupam Agrawal and DCPs Siddharth Goyal and Ravishankar, with ACP Raveesh Nayak and Inspector Satish MP leading the operation.
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