Alappuzha, 02 March (H.S.):An 85-year-old resident of Mararikulam in Kerala’s Alappuzha district has lost ₹19.62 lakh in a sophisticated online investment scam that promised massive returns through stock market trading. The fraud, executed through a fake trading application, unfolded over nearly two months and has once again highlighted the growing threat of cyber-enabled financial crimes targeting senior citizens.
According to police, the scam began when the elderly man came across a YouTube video promoting lucrative profits through share trading. Intrigued by the claims, he clicked on a link attached to the video and entered his personal details. Soon after, he was contacted by an individual who introduced himself as a representative of a share trading group called “BXB Market.”
The fraudster convinced the victim to install a mobile trading application, claiming it would facilitate investments in the stock market. Between December 16 and February 2, the octogenarian transferred a total of ₹19,62,768 in 17 separate transactions, believing he was investing in profitable trades.
To gain his trust, the scammers allegedly manipulated the application to display fabricated profits and growing returns on his investments. Encouraged by the apparent gains shown on the app, the elderly investor continued depositing money. However, when he later attempted to withdraw the “profits,” he was unable to do so.
Upon contacting the so-called trading representatives, he was told that additional payments were required to process the withdrawal. Realising he had been cheated, the victim approached the police and filed a formal complaint.
The Alappuzha Cyber Crime Police have registered a case and launched an investigation. Details of the bank accounts to which the money was transferred have been shared with the National Cyber Crime Reporting Portal to facilitate further action and possible fund recovery.
Police officials have once again urged the public, particularly senior citizens, to exercise extreme caution while responding to online investment offers and to verify the authenticity of trading platforms before transferring money. They warned that fraudsters often use social media and video platforms to lure victims with promises of unrealistically high returns.
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Hindusthan Samachar / Arun Lakshman
