KOCHI: Amid a worrying surge in cyber fraud cases, a Kochi-based IT professional has allegedly fallen victim to a sophisticated online share trading scam, losing Rs 1.21 crore.
The victim, a 53-year-old native of Thekkum Bhagam in Tripunithura, lodged a complaint, following which police registered a case for cheating and criminal breach of trust under the Bharatiya Nyaya Sanhita, along with relevant provisions of the Information Technology Act, 2008.
The victim, who works at an IT firm in the Kakkanad region and is familiar with share trading, allegedly encountered WhatsApp messages promising exorbitant profits through online investments.
He was subsequently added to WhatsApp groups titled ‘Momentum Circle 7’, ‘One-on-One VIP 46’ and ‘C101 – Wealth Growth Strategy’, where frequent market updates and lucrative offers were shared.
Convinced by the claims, he was allegedly persuaded to register on an online trading platform named ‘VentSec Pro’. Trusting screenshots and data showing sharp rises in investments and returns, he transferred Rs 1.21 crore between November 2025 and January 14, 2026, the officer said.
“The victim approached the police after the accused failed to pay the promised profits or return the invested amount. With timely police intervention, Rs 34 lakh was recovered; however, a significant portion of the money remains untraced,” said Rijin M. Thomas, inspector of Hill Palace police station.
Based on the complaint, police have booked three persons—Kusikh Ketharam, Vrithika Anandh and Sarbari Saha—as accused.
Preliminary findings indicate that the identities used may be fake, and investigators are probing possible links outside Kerala. Further details will emerge as the investigation progresses, the officer added.