KOCHI: Kochi city cyber police have registered a case after a 49-year-old pharmaceutical company owner lost Rs 25 crore in an online investment scam, believed to be one of the largest individual financial frauds reported in Kerala.
The victim, a 49-year-old resident of Elamkulam, was allegedly duped by fraudsters who lured him with promises of exceptionally high returns, including double his investment, said a source with Kochi city police.
“We received a complaint on Monday and registered a case under charges of cheating and criminal breach of trust as per the Bharatiya Nyaya Sanhita (BNS). Further details will emerge only after a detailed inquiry,” the officer said. The incident appears to be similar to the online trading scam previously reported from Thiruvananthapuram, he said.
According to the police, the fraudster introduced himself as ‘Daniel’ and first contacted the victim, a businessman actively involved in stock market investment through Telegram, in March 2023. He maintained regular communication with the victim through phone calls and Telegram chats, eventually introducing him to an online trading platform named ‘Capitalix’ (www.capitalix.com).
The fraudsters also promised that the victim could purchase shares of high-value companies at minimal investment and later sell them for massive profits.
After convincing the victim, the fraudster initially persuaded him to deposit Rs 2 crore, and in return, presented forged documents showing a profit of approximately Rs 4 crore.
“Gradually, after gaining trust, the victim transferred a total of Rs 24.76 crore to various bank accounts between March 15, 2023, and August 29, 2025, following the fraudster’s instructions. The fraud came to light only when the victim attempted to sell the shares and realised that the trading platform was fake,” the source said.
Although there had been reports of this particular online trading scam, the police officially received the complaint only on Monday, after which appropriate legal procedures were initiated, said Kochi City Police Commissioner Putta Vimaladitya.
“This is a typical case of financial loss stemming from online trading scams that prey on individuals seeking high returns. What’s striking here is that the victim is a well-educated, tech-savvy individual familiar with online trading platforms. Yet, he fell into the trap,” the commissioner said.
Vimaladitya emphasised that it is crucial for the public to remain alert and cautious while engaging in any online financial activity.
“And most importantly, people should feel free to approach the police in any such situation without hesitation,” he added.