Youth Trio Arrested for Stock Market Scam in Kochi

Three youths in Kochi were apprehended for allegedly defrauding people of Rs 52.22 lakh by promising high stock market returns via a Facebook profile. Muhammed Altaf Hussain, Muhammed Shiyas, and Muhammed Shabib were identified as the culprits. The Kochi police have initiated a detailed inquiry into the fraud.

In a significant crackdown, the Kochi city police have arrested three young individuals on allegations of orchestrating a fraud involving Rs 52.22 lakh through promises of lucrative returns from stock market trading.

The suspects, identified as Muhammed Altaf Hussain, 21, and Muhammed Shiyas, 29, from Alappuzha, along with Muhammed Shabib, 23, from Malappuram, were taken into custody on Tuesday following a complaint.

Authorities revealed that the accused allegedly lured victims using a Facebook profile to entice them with the prospect of high profits from stock trading. A comprehensive investigation is now underway, officials stated.

(With inputs from agencies.)