Kerala Police Arrest Key Accused In Rs 4.43 Crore Fake Trading Scam

Kerala police have arrested Zainul Abideen, 41, a key suspect in a cyber fraud scheme that defrauded a 73-year-old retired government doctor of Rs 4.43 crore through a fake online trading platform. The arrest was made by the Kannur City Cyber Crime Police in Ernakulam on Friday, marking a significant breakthrough in the case reported in Mattannur, Kannur district.

The scam lured the victim via a WhatsApp group, promising high returns through a fraudulent trading platform named Upstox. Between April and June 2025, the doctor transferred funds to multiple bank accounts as instructed, with a fake application displaying inflated profits. When he attempted to withdraw funds, he faced technical excuses and demands for additional deposits, eventually realizing the deception. Police investigations revealed that Abideen arranged a mule bank account in the name of Senthil Kumar, a Chennai resident unaware of the fraud, to which Rs 44 lakh of the victim’s money was transferred. Abideen earned a Rs 1.2 lakh commission for facilitating the account and handling transactions.

Earlier, two of Abideen’s associates, Mahaboobash Farooq and Rijas, were arrested in Chennai. Authorities have frozen several bank accounts linked to the scam, securing Rs 36 lakh. Abideen, previously arrested in a separate cybercrime case in Kannur and released on bail, also faces charges in Visakhapatnam. He was produced before a court and remanded to judicial custody.

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This arrest highlights the growing threat of cyber fraud in India, with authorities intensifying efforts to combat such crimes. Police urge the public to verify online investment platforms and report suspicious activities promptly to prevent financial losses.

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