The Alappuzha Cyber Crime Police in Kerala have arrested a 23-year-old man for his alleged role in a sophisticated online share trading fraud that defrauded an elderly investor of about ₹8.08 crore. The scam — involving fake investment apps, WhatsApp groups and fabricated profit figures — highlights how cyber fraudsters are targeting vulnerable investors through seemingly professional schemes.
Scam Sparked by Fake Trading App and WhatsApp Group
Police identified the accused as Bharathikannan Angamuthu, a native of Salem in Tamil Nadu. Investigators said the fraud began when the elder victim was contacted through WhatsApp calls by someone posing as a representative of a reputed share trading firm.
As part of the scheme, the victim was persuaded to install a mobile application called “RARCII,” which was designed to mimic a legitimate trading platform. The app displayed fabricated profit figures, creating the illusion that investments were growing steadily.
Additionally, the victim was added to a WhatsApp group titled “C778 Reliance Capital Innovators Hub”, where team members repeatedly posted messages claiming high returns on investments. Authorities said these messages were part of a coordinated effort to maintain trust and lure larger deposits.
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Huge Transfers, 73 Transactions Over Months
Between 24 September and 20 December 2025, the victim made 73 separate bank transfers — believing they were investing legitimately based on the fake platform’s screens and the group’s messages. These funds, totaling ₹8.08 crore, were routed through multiple bank accounts across different states, a tactic often used by fraud networks to mask the money’s origin.
Police said that when the victim later attempted to withdraw profits, the fraudsters created additional excuses, including demands for service charges and fees, to extract even more money — a common escalation tactic in such scams.
Accused’s Role and Co-Accused in Jail
Investigators say Bharathikannan played a central role in gaining the victim’s trust and facilitating the financial transfers. Police records show he had registered a private firm in Salem called Valiant Strive Corporation Private Limited along with a classmate, Sabareesh Sekhar. As part of the scheme, at least ₹35.5 lakh was first routed directly into the company’s current account.
Authorities also revealed that Sekhar — a co-accused — is already in Trichy Central Jail in connection with a similar fraud case. Police confirmed that he will be formally taken into custody in the current case once procedures are completed.
Police Warning to Public
The Alappuzha Cyber Crime Police issued a stern warning to investors and the public at large, noting that nearly 90 % of trading tips shared on social media platforms are fake and that share trading requires a valid Demat account and must be done through verified, registered brokers.
Authorities advised people to avoid unknown WhatsApp investment groups, unsolicited calls, and unverified mobile apps — especially those promising unrealistic profits. They also urged members of the public to report suspicious trading platforms or offers to the National Cyber Crime Reporting Portal or local cyber police units promptly.
How Such Online Trading Scams Work
Cybercriminals often use a combination of fake apps, social engineering, and bogus testimonials to convince victims that their money is being invested successfully. Initially, such platforms display “profit” to build confidence, then:
- Encourage larger deposits, often in succession
- Create social proof through WhatsApp groups and referrals
- Delay or block withdrawals with fabricated charges
- Disappear once most of the funds are moved through mule accounts
Experts say these scams exploit trust and a lack of financial literacy, with perpetrators frequently operating across state lines to evade detection.
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.
