A youth has been arrested in connection with defrauding Rs 29.25 lakh from a former expatriate by promising high returns through online share trading. The accused, Syed Iqbal Hussaini (47) from Hyderabad, was apprehended by the Kannur Cyber Crime Police.

The scam involved installing a fake mobile application for share trading and providing trading instructions through a Telegram group. The fraud was perpetrated by showing significant profits in each trade. However, the investor was unable to withdraw money from the account due to a technical issue. The victim subsequently filed a complaint with the cyber police. Based on the investigation, the Kannur Cyber Police arrested the accused in Hyderabad.

Rs 80 crore defrauded in 30 days

The online share trading scam resulted in a theft of over Rs 80 crore within 30 days. The funds obtained through the scam were transferred to various accounts via international banking, making it challenging for the police to recover the money from the accused's account. Syed Iqbal Hussaini faces cyber fraud cases in 15 states, with five cases pending in Kerala alone.

The Hyderabad cyber team monitored the accused for several days before arresting him. Despite attempts to evade capture by using a false name, he was apprehended with the assistance of the Hyderabad police. It was determined that Syed Iqbal Hussaini played a crucial role in the scam. The arrest was made by a team led by Cyber Police Inspector T.V. Biju Prakash, including Cyber Crime SI C. Sajeesh, P. Sindhu, Rayisuddin, and Sanoop.

Jewelry theft: Accused arrested in Bihar

An accused in a case of breaking into a jewelry store in the city and stealing eight kilograms of silver jewelry has been arrested. The arrested individual is Dharmendra Singh (34) from Bihar. He is involved in numerous theft cases both within and outside the state. A special investigation team led by Town Police Inspector Sreejith Koderi, under the supervision of Kannur City Police Commissioner Ajith Kumar and Assistant Commissioner T.K. Rathnakumar, apprehended him from Saharsa district on the Nepal border.

In 2022, Singh had escaped to Bihar after breaking into Arshith Jewelry in Thavakkara and stealing silver jewelry. He later attempted another theft from the same store at 1:30 a.m. on June 30. During the attempted break-in, the alarm was triggered after damaging the CCTV camera, causing him to flee. The police believe there were no accomplices. Singh was caught while planning another jewelry theft with weapons.

The suspect’s fingerprints were found during the police investigation. However, there were no immediate leads on the thief. In 2011, during a jewelry theft at a shop in Vythiri, Wayanad, the Vythiri police identified the fingerprints as belonging to Singh. Although a case was filed, the police were unable to apprehend him. When Singh attempted another theft in Kannur, the police identified him from CCTV footage showing the masked thief.

Switching mobile phones and SIM cards

Singh’s method involves changing mobile phones and SIM cards after each theft, complicating the police's ability to trace him. After monitoring his last used phone number for two months, the police finally located his hideout in Bihar. The team, including SI Rajeevan, SI Ajayan, ASI Ranjith, and CPO Nidhish, conducted a week-long stakeout near the Nepal border before apprehending him.

Affinity for silver jewelry

Singh has a particular penchant for silver jewelry. During questioning, it became evident that he exclusively targeted silver items. He believed that silver jewelry is often stored in cupboards or counters, unlike gold jewelry, which is kept in safes. Singh's belief that silver jewelry is easier to steal and less likely to result in significant complaints or cases guided his criminal activities.