DINDIGUL: Two persons from Bengaluru were arrested by the Dindigul police for allegedly cheating a Dindigul native of Rs 39 lakh under the pretext of offering profits through stock trading. The accused were identified as T Ayush (20) and K Harshath (20), residents of Bengaluru.
According to an official release, Saravana Kumar (32), a mill worker from Dindigul, received information about stock trading from a Bengaluru-based private company through social media in January 2024. The executives of the company claimed to offer profits via stock trading, and demanded funds to operate a stock market programme.
Following this, Saravana Kumar transferred Rs 1 lakh for the programme, and obtained some profits. Later, the executives advised Kumar to transfer several lakhs to certain bank accounts, and he transferred up to `39 lakh, added the release.
Upon realising the scam, Kumar lodged a complaint with the cyber wing of Dindigul police. A case was registered and the police traced the transactions to nine accounts. Measures were taken to freeze the accounts, and Rs 10 lakh was recovered and transferred to Saravana Kumar's account, sources said.
The police further traced the scamsters' phone calls and secured them from Bengaluru. Two iPhones and Rs 4.95 lakh in cash were seized from them. The youth were produced before the district magistrate court and remanded to custody.