A 30-year-old man from Wayanad, Kerala, has been arrested in Bengaluru in connection with an online trading fraud that allegedly duped a woman from Delhi of nearly ₹4 lakh by promising false profits through a fake trading scheme. The case is being investigated by the Wayanad Cyber Crime Police, who say the suspect was part of an organised group that lured victims via Telegram messages and bogus trading promises to siphon off money.
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Scam Modus Operandi and Victim Targeting
Police said the fraud dates back to September 2025, when the Delhi woman was approached with the promise that she could earn handsome profits through online share or forex trading by following instructions shared through Telegram groups. The fraudsters built trust by creating the illusion of a legitimate trading setup, leading her to transfer funds into accounts controlled by the network.
Out of the total amount cheated, about ₹1.5 lakh was first transferred into the account of another suspect, identified as Vishnu from Vythiri (Wayanad), who was previously arrested. Vishnu then allegedly withdrew around ₹3.5 lakh via cheque and handed it over to Ashkar Ali, the main accused now in custody.
Arrest and Police Action
After learning of Vishnu’s arrest, Ashkar Ali fled to North India but was later traced and apprehended by the cyber crime team in Bengaluru on a tip-off. According to police, Ali’s mobile phone contained bank account details of numerous individuals, suggesting his deeper involvement in the fraud network and possibly other similar scams.
The investigation team, led by Wayanad Cyber Crime Police Inspector Shaju Joseph, includes ASI K. Razak, P. Haris, Senior Civil Police Officer Joji Looka and Civil Police Officer Jineesh — reflecting the coordinated effort to crack down on cyber fraud originating from the region. Police have said the probe is ongoing to identify other accused who received money from Ali or helped execute the scam.
Judicial Custody and Legal Proceedings
After his arrest, Ashkar Ali was produced before the Chief Judicial Magistrate Court in Kalpetta (Wayanad), where he was remanded to custody to allow the investigation to proceed. The police are expected to file formal charges related to cheating and cybercrime offences under applicable provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act, 2000, which cover fraud, false representation and electronic deception.
Cyber investigators are also analysing digital evidence, including chat logs, transaction records and device data, to establish the full extent of the scam and link other accomplices to the fraud. The use of multiple bank accounts and staged withdrawals is typical of how online trading scams conceal the flow of funds and make recovery more difficult.
Police Warning and Public Awareness
Authorities reiterated that online trading and investment scams often begin with persuasive messages on social media or messaging platforms promising easy profits. Once trust is established, victims are urged to deposit money into accounts controlled by fraudsters, with little or no real trading taking place. Victims are frequently advised to transfer money in stages, escalating losses as they become more convinced by fabricated results or fake testimonials.
The Wayanad Cyber Crime Police have urged the public to remain cautious and report any suspicious online investment schemes immediately via the National Cyber Crime Reporting Portal or local cyber police stations. They also highlighted the importance of verifying platforms and intermediaries before investing, especially when approached through informal channels like Telegram or WhatsApp.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
