A major online investment fraud involving ₹57.72 lakh has surfaced in Kerala’s Kochi, where cybercriminals allegedly used a fake Facebook profile to convince a man to invest in gold and crude oil trading with promises of exceptionally high returns. According to investigators, the victim transferred money over several months into multiple bank accounts but neither received the promised profits nor recovered his original investment.
Police said the victim, a resident of Kunnathunadu, lodged a complaint with Ambalamedu Police, following which a case was registered and an investigation was launched. Preliminary findings suggest that the fraudster contacted the victim through Facebook, posing as an investment expert and claiming to offer profitable opportunities in international commodity trading.
Investigators said the suspect operated a fake Facebook profile under the name “Vikram” and gradually gained the victim’s trust by claiming that investments in gold and crude oil markets could generate substantial returns within a short period. Through repeated conversations and purported investment advice, the accused allegedly persuaded the victim to invest increasingly larger amounts.
According to the police, between January 20 and April 13, 2026, the victim transferred a total of ₹57,72,484 in multiple instalments to different bank accounts specified by the fraudsters. Throughout this period, the victim was allegedly assured that his investments were performing well and that significant profits would soon be credited to his account.
The scam came to light when the victim attempted to withdraw both his invested capital and the promised returns. Police said the fraudsters neither processed the withdrawal nor returned the original investment. Realising he had been cheated, the victim approached law enforcement authorities and filed a formal complaint.
Ambalamedu Police have initiated a detailed investigation into the bank accounts, digital transactions, and online activities linked to the suspects. Investigators are tracing the flow of funds to determine where the money was transferred, identify the beneficiaries, and establish the full extent of the fraud network. Authorities are also examining the fake Facebook profile, associated mobile numbers, IP addresses, and other digital evidence.
Police suspect that the group may be operating a broader investment fraud racket that targets victims through social media by promoting fake commodity trading opportunities. Investigators are also examining whether other investors have fallen victim to the same modus operandi. If required, information will be shared with law enforcement agencies in other states and financial institutions to assist in the investigation.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said cybercriminals increasingly exploit social media platforms by posing as investment advisors and luring people with promises of guaranteed returns, low risk, and quick profits. He advised investors to independently verify the credentials of any company, trading platform, or financial advisor before investing and never rely solely on social media profiles or online claims. He further cautioned that if an investment platform blocks withdrawals, repeatedly demands additional deposits, or asks investors to transfer funds to suspicious bank accounts, they should immediately stop further transactions and report the incident through the National Cyber Crime Helpline (1930) and the National Cyber Crime Reporting Portal. Prompt reporting significantly improves the chances of fund recovery and helps investigators trace the perpetrators.
