The Cyber Crime Police in Kozhikode have apprehended a man for defrauding a retired bank manager of Rs 65.22 lakh in an online trading scam. The accused, identified as Vimal Pratap Radia, aged 47 and a resident of South Beach, Kozhikode, was taken into custody during a raid at his residence. Along with the arrest, the police also seized Rs 12.5 lakh in cash.
Radia, posing as an agent for online trading scammers, allegedly tricked the retired banker by offering huge profits through Forex trading after establishing contact online. Out of the total amount extorted, Rs 12.4 lakh was reportedly received directly by the accused. It was revealed by cyber police that Radia acted as a middleman for scammers located in different states and remote areas, collecting funds from victims and transferring them to the fraudsters.
The arrest of Radia came after a thorough investigation that tracked his phone calls and emails. Authorities are now delving deeper into Radia’s connections with previously apprehended scam networks and individuals who provide financial aid or bank accounts for such illicit operations. Currently, Radia has been remanded to judicial custody, with the investigation being led by Police Inspector Agesh K K.
The case serves as a reminder of the prevalence of online scams and the need for vigilance when engaging in financial transactions over the internet. It highlights the importance of conducting thorough background checks and verifying the authenticity of individuals or entities before investing or engaging in online trading activities.
As the investigation progresses, it is expected that more details will emerge regarding the extent of Radia’s involvement in the scam and the network of individuals behind such fraudulent activities. The cyber police are working diligently to ensure that justice is served and to prevent further instances of financial fraud in the region.