Thiruvananthapuram City Cyber Crime Police have arrested Ramesh, a 47-year-old man from Kannadi in Palakkad district, India, for his alleged involvement in a significant online share trading scam that defrauded a local resident of ₹1.19 crore (approximately $143,000 USD). The scam began when the victim was contacted via social media by individuals posing as representatives of a reputable investment firm based in the UK. They promised to double the victim's investment through online trading, using a counterfeit mobile application that mimicked a legitimate stock market trading platform. To establish credibility, the scammers created WhatsApp groups to foster trust among potential victims.

The victim, believing in the fraudulent scheme, transferred funds in multiple stages to various bank accounts provided by the fraudsters. When he did not receive any profits or his initial investment back, he realized he had been scammed and reported the incident to the police. In response to the increasing prevalence of such cybercrimes, the Thiruvananthapuram City Police Commissioner formed a specialized team to investigate the case. This team successfully tracked the suspect through advanced cyber investigation techniques, leading to Ramesh's arrest. Authorities have since warned the public to avoid falling for similar scams and advised that all trading should be conducted through SEBI-approved brokers.