The Kozhikode cyber police on Saturday arrested a Malappuram native who was reportedly part of a gang of online fraudsters who pocketed ₹48 lakh from a retiredman through a fake share trading venture using artificial intelligence tools.
A.P. Mujeeb, the suspect in the incident, was nabbed on the basis of a few bank transaction records which showed the withdrawal of a portion of the commission amount he received for ‘enrolling’ the man under the fraud share trading venture.
The complainant was a Kozhikode resident who claimed that Mujeeb prompted him to invest in the trading venture after sharing with him a number of awareness videos and motivational sessions about profitable trading.
The probe was carried out under the leadership of Kozhikode Cyber Crime Police Station Inspector Vipin Chandran. The 41-year-old, who was produced before the Chief Judicial Magistrate, was remanded in judicial custody for 14 days on Sunday.