KOCHI: An expatriate from Manjummel was allegedly cheated of Rs 11.8 lakh after being lured into investing in an educational app that promised high returns. The victim, a 53-year-old man working in a Gulf nation, filed a complaint with the police after realising he had been defrauded.
The police have registered a case against a youth from Rajakkadu in Idukki district on charges of cheating and criminal breach of trust. According to the complaint, the accused convinced the victim to invest in an educational app named ‘Prana Insight’, reportedly operating from Chalikavattom in Ernakulam.
Believing the promise of high returns, the victim transferred a total of Rs 11.8 lakh from his account at a bank in Edappally through multiple transactions. However, the promised profits never materialised, nor was the principal amount returned, prompting the victim to approach the police.
“The accused came into contact with the victim through a mutual friend, who is also an expatriate and a close acquaintance. After gaining his trust, he introduced the educational app as a long-term investment that would benefit him after retirement,” said a police official.