A Kochi businessman lost ₹24.76 crore in an elaborate cyber fraud involving fake stock trading promises. Police formed a special investigation team as the case marks one of India’s largest individual online investment scams.
Record Fraud Case Registered
Kochi City cyber police registered an FIR on Monday (September 1, 2025) evening following an unprecedented cyber fraud case involving a local businessman. The accused contacted the victim through phone and chat platforms, convincing him to engage in stock trading through a website promising exceptionally high returns. The victim reportedly continued investing as impressive returns appeared in his account on the fraudulent website, but realized he had been duped when he could not withdraw either the promised returns or his original investments, according to police statements.
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Massive Financial Loss Over Two Years
A city-based businessman lost ₹24.76 crore in the alleged cyber fraud, with the amount siphoned through 96 transactions over two years and five months, investigators found. Preliminary investigation revealed that the victim lost money held through 23 bank accounts, District Police Chief (Kochi City) Putta Vimaladitya said on Wednesday (September 3, 2025). The scale of the financial loss represents one of the largest individual cyber fraud cases documented in the region, highlighting sophisticated criminal operations targeting high-net-worth individuals.
Victim Profile and Investigation Details
The complainant, identified as a resident of Elamkulam in the city, has been asked to submit all information related to the alleged cyber fraud to investigators. Police confirmed the victim is an experienced businessman with substantial financial resources, making the case particularly significant for understanding how sophisticated scams can target even financially savvy individuals. The fraudsters employed elaborate social engineering tactics, maintaining regular communication and presenting convincing but falsified investment returns to build trust over an extended period.
Special Investigation Team Formed
A special investigation team is being formed to probe the case, with Deputy Commissioner (Law and Order) Juvvanapudi Mahesh heading the investigation. The formation of this specialized unit underscores the complexity and significance of the case, which authorities believe could reveal broader networks of cyber criminals operating sophisticated investment fraud schemes. The investigation will focus on tracing the multiple bank accounts used in the transactions and identifying the technological infrastructure behind the fraudulent trading platform.