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The elderly man from Poonkunnam became acquainted with the young woman through social media two years ago.
The boy's 19-year-old accomplice was arrested by the Kozhikode rural cyber police wing on Thursday from Palakkad.
Police suspect Dilshad might have hatched the sextortion because the complainant is from his same Mangad village and knew his financial condition.
The Ernakulam Central Police apprehended the duo the other day on a complaint lodged by a youth, who is a tiles worker.
An Anti-Terrorism Squad official said it was a case of honeytrap.
Aswathi Achu, of Kollam, is an accused in several honeytrap cases. However, this is the first time she is being arrested in a case.
A Gudalur-native woman and an Idukki man have been arrested by the Kochi City Police.
Vlogger Rashida, 28, pretended to be in love with the Kalpakanchery native, established a relationship and invited him over from time to time. Her husband also connived to deceive him.
The victim said he had delayed lodging the complaint fearing backlash from the culprits. He said one of them had close ties with an MLA.
The couple Devu and Gokul have been popular on social media.
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