Cryptocurrency fraud case: One more arrested in Kannur

KANNUR: Santhosh Felix (38), a native of Anchukallumoodu in Kollam, has been arrested by Kannur Assistant Commissioner PP Sadanandan in a Morris-coin cryptocurrency fraud case. With this, the number of those arrested in the case has increased to seven.

Police are examining the bank accounts of early investors in the Morris-Coin project. An inspection of Santhosh's Axis Bank account revealed that Rs 58,28,13,1,40 had been received from various investors. Of the total collection of Rs 1300 crore, Rs 58 crore was credited to Santhosh's account. He was also found to have added thousands of people to the scam. He has registered himself with the Long Rich website and the Morris Coin website under 376 different IDs.

It was found that the huge amount of money collected through pin stockists was transferred to the account of the company owner Nishad's Federal Bank, Karur Vaishya Bank accounts, and to the account named Longrich Global at the Coimbatore branch account of Catholic Syrian Bank, and to the ICICI account.

The money was transferred from these accounts to the accounts of various Internet payment gateway companies. Huge sums of money have been disbursed to early investors through such nodal accounts. Santhosh Felix was arrested as part of a search of all these accounts.

The arrests are being made by Kannapuram SI Vineesh, Edakkad SI Mahesh Kandampeth and Kannur City SI Sumesh. More people are being questioned about who managed the funds of the Long Rich investment fraud scheme.