THIRUVANANTHAPURAM: Complaints have arisen regarding the theft of Rs 3.5 crore, where a doctor and online trader from Ullur, Thiruvananthapuram lost Rs 3,42,64,854. An investigation has been initiated by the Cyber Police.

Last March, the fraudsters initiated contact with the trader via WhatsApp, initially transferring Rs 15,000. Subsequently, they claimed to have multiplied the amount through trading with profits four times the initial investment appearing in the trader's account. Large sums were then transferred multiple times with one transfer reaching Rs 1.25 crore. The trader received messages indicating significant dividends had been deposited. However, upon attempting to withdraw the funds, the trader realized the scam.

The Cyber Police have taken steps to freeze the bank accounts provided in the complaint, potentially facilitating refunds. However, tracking cash withdrawals from ATMs poses challenges. Often, such accounts are created under the names of unsuspecting people in northern states like Rajasthan, Gujarat, Bihar and Maharashtra, complicating efforts to apprehend the real perpetrators.

Complaints have surfaced from Thiruvananthapuram residents, reporting being duped under the pretext of online trading. Four people in the city lost a total of 1.9 crores, while a resident of Kanyakumari residing in Sreekaryam Pangappara lost 1.44 crores. Additionally, a resident of Srikariyam Manguzhi was defrauded of 17 lakhs and another from Manakkad Kallattumukk lost 27 lakhs, all through a WhatsApp group called Stock Vanguard.

The fraudsters conducted their schemes under the guise of online trading, enticing victims to join WhatsApp groups such as Tata Investment Club and Share Boost and to download specialized mobile applications.