Gujarati conman embezzles Rs 56 lakh from Angamaly native through online fraud, nabbed

Angamaly: The Angamaly police, who secured custody of Ahmedabad native Parthiv Nalinkanth Jani (49), a conman accused in multiple financial embezzlement cases, will take him to Thane Central Prison on Tuesday.

Parthiv, accused in four financial embezzlement cases in Thane, was handed over to the Angamaly police on December 13 for a case involving financial fraud against a Karukutty native near Angamaly. According to the Angamaly police, Parthiv allegedly embezzled Rs 56 lakh from the victim by promising significant profits through online share trading.

Police sources revealed that the victim was introduced to Parthiv through a friend in Palakkad and interacted with him via WhatsApp. Parthiv reportedly sent the victim a link to an online trading app named Sharekhan Traders to gain his trust.

To convince the victim, Parthiv initially returned double the amount when small sums were deposited. Encouraged by this, the victim trusted Parthiv and deposited larger sums of money, ultimately transferring Rs 56 lakh through the app.

Soon after, a balance of Rs 3.79 crore was displayed in the trading app account. Excited by the apparent profit, the victim attempted to withdraw the amount but found it impossible. At this stage, Parthiv demanded an additional sum, claiming it was necessary to release the displayed funds. Growing suspicious, the victim filed a complaint via the National Cyber Crime Portal.

During the police investigation, significant financial transactions were traced to Parthiv's account. Further inquiries revealed ongoing cases against him in Thane, prompting the Angamaly police to approach the Thane court for custody. In Thane, Parthiv is already facing trial in four separate financial fraud cases.

KA Wilson, Sub-Inspector of Police, who participated in the investigation, told Onmanorama that Parthiv remains uncooperative and is withholding details related to the case. The investigation is being led by Angamaly CI Arunkumar RV.

Parthiv, originally from Ahmedabad, has been living in Dubai. He was arrested by Mumbai police at the airport while en route to Ahmedabad to attend his father’s funeral. The Angamaly police subsequently secured his custody for interrogation. The Angamaly police have charged Parthiv under Sections 316(2) and 318(4) of the Bharatiya Nyaya Sanhita (for cheating) and Section 66D of the IT Act, 2000.