Coimbatore cybercrime police have arrested two brothers from Belagavi in Karnataka for allegedly defrauding a 64-year-old woman of ₹38.62 lakh through an online investment scam.
For more details : https://www.thehindu.com/news/cities/Coimbatore/siblings-from-belagavi-arrested-for-investment-fraud/article70308874.ece
The accused, identified as M. Thangaraju (47) and M. Shanmugasundaram (50), had reportedly convinced the woman from Navavoor Pirivu to invest in institutional shares and initial public offerings (IPOs), promising high returns. She later realised she had been cheated and filed a complaint with the cybercrime police.
Following an investigation, the police traced the duo to Belagavi and took them into custody. They were brought to Coimbatore, produced before a court, and remanded to the Coimbatore Central Prison on Friday.
Authorities have urged the public to remain cautious about online investment schemes and verify the authenticity of platforms before transferring money.
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