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While many victims have filed complaints with the police and Meta, only a few accounts have been successfully recovered.
Cases have been filed under Sections 316(2) and 318(4) of the Bharatiya Nyaya Sanhitha (BNS) against Managing Director K Santhosh and Director Mubashir, both residents of Edakkara, Malappuram.
He allegedly defrauded 29 people within the Sulthan Bathery police jurisdiction, promising to double their investments through an online scheme.
Nearly 300 firms operate out of Cambodia to scam people aged between 60 and 80, escaped people reveal.
The group was starved and physically tortured for days for refusing to join their ring.
The true aim of these rackets is to exploit the bank accounts of job seekers, including students, for illegal money laundering and other fraudulent activities.
Fifty-eight arrest warrants were pending against Kunhichandu Melath Nair at Ambalathara police station and another 12 cases at Hosdurg Police Station.
Between May 31 and August 23, 2023, Sachita Rai received Rs 15.06 lakh from Shetty via bank transfer and GPay, on the promise of a clerical job at CPCRI.
The bank had lost 26.244 kilograms of gold worth Rs 17.2 crore from its locker.
The accused had defrauded the Kozhikode man by promising profits from Forex trading.
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