KOCHI: A 62-year-old man from Nadama, Tripunithura, was defrauded of nearly Rs 64 lakh in an online trading scam after being lured by promises of high returns.
The Hill Palace police have registered a case against two accused — Meghal Sha and Atul Mehara, both residents of Nadama — under charges of cheating and criminal breach of trust as per the Bharatiya Nyaya Sanhita (BNS) and relevant provisions of the Information Technology Act, said sources with the Kochi City police.
The accused allegedly approached the man, claiming that investments made through block trading on the online platform AXIS Securities would yield substantial profits.
The suspects persuaded him to transfer approximately Rs 23 lakh and Rs 41 lakh — amounting to a total of Rs 64 lakh — between June 1 and June 30. After receiving the funds, the suspects cut off all communication with the victim and failed to return either the promised profits or the invested amount, said an official.
“A detailed investigation is currently underway, and further information will be revealed after a thorough probe,” the officer added.