Kannur, 18 Oct (H.S.):A Payyannur resident lost Rs 14 lakh in an alleged online investment scam after fraudsters posing as employees of HDFC Securities persuaded him to invest through a fake mobile application promising five per cent daily returns.

The victim, Joy Thomas of Nambisseril in Thayineri, approached Payyannur police after he was unable to withdraw either his investment or the profits displayed on the application.

Police have registered a case against Nisha Varma and Umesh Sharma on his complaint and launched an investigation.

According to the complaint, the accused introduced themselves as employees of the financial services company and offered investment opportunities with unusually high returns. To make their claims appear credible, they persuaded Thomas to download a fraudulent application carrying the company’s name.

The application displayed a daily profit of five per cent on the amount invested, encouraging him to transfer money to bank accounts specified by the accused.

Believing the returns shown on the platform, Thomas transferred a total of Rs 14 lakh in four instalments between August 12 and August 21, 2026.

Although the application continued to show substantial profits, he discovered the alleged fraud when he attempted to withdraw the money. Neither the principal nor the promised returns were paid back, prompting him to lodge a police complaint.

Investigators are examining the bank accounts and telephone numbers used by the accused, with assistance from the cyber cell, to trace the transactions and identify those involved.

Police have warned residents against accepting investment offers from unfamiliar individuals, particularly those promising exceptionally high daily returns.

With online investment fraud cases increasing in the Payyannur area, police also advised the public to avoid downloading unauthorised applications and to verify the credentials of anyone claiming to represent an established financial institution before transferring money or sharing personal and banking information with them.

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Hindusthan Samachar / Arun Lakshman