Kollam Senior Citizen Defrauded of Rs 1.65 Crore in Sophisticated Social Media Trading Scam
In a distressing case of cyber fraud, a 67-year-old man from Kundara in Kollam district has been swindled out of a staggering Rs 1.65 crore through an elaborate online trading scam orchestrated by unidentified perpetrators. The sophisticated fraud, which unfolded over several months, highlights the growing threat of financial crimes targeting vulnerable individuals through social media platforms.
How the Scam Unfolded: From Facebook Lure to WhatsApp Manipulation
The fraudulent scheme began in August 2025 when the accused gang first contacted the elderly victim through Facebook. The criminals presented themselves as legitimate investment advisors, promising exceptionally lucrative returns through online trading opportunities. Tired of intrusive advertisements and seeking financial growth, the man was initially drawn to these seemingly professional overtures.
After establishing initial contact, the fraudsters escalated their manipulation by moving communications to multiple WhatsApp numbers. This shift to a more private messaging platform allowed them to build a false sense of trust and confidentiality with the victim. Over time, they persuaded him to register on several trading platforms that appeared genuine but were ultimately fraudulent operations designed to siphon funds.
The Systematic Financial Drain: 18 Installments to Multiple Accounts
Once they had gained the victim's confidence and collected his personal details, the gang systematically convinced him to transfer substantial sums of money. The transactions occurred in 18 separate installments, each justified under the pretext of investment requirements, trading fees, or profit capitalization opportunities.
The funds were deposited into a complex network of bank accounts linked to various firms and individuals, including:
- S S Enterprises
- Maskana Trading Company
- A K Trading Company
- H K Enterprises
- Punit Enterprises
- S K Consultancy
- M J Enterprises
- R B Traders
- Maruti Enterprises
- Technology Private Ltd
- Shivraj Singh Sahari
- Raja Babu Dona Patel Manufacturing
This elaborate web of accounts was deliberately designed to obscure the money trail and complicate recovery efforts.
The Realization and Police Intervention
The victim's realization came when he attempted to withdraw either his invested capital or the promised profits from the trading platforms. He found himself completely unable to access any funds, with the platforms either non-responsive or providing excuses about technical issues and processing delays. This moment of clarity revealed the entire operation as an elaborate scam designed to extract maximum funds before disappearing.
Following this discovery, the defrauded man filed a formal complaint with the Kollam Rural Cyber Police Station. Law enforcement authorities have launched a comprehensive investigation aimed at identifying the accused individuals and tracking the complex money trail across the multiple bank accounts involved in the fraud.
Police officials have emphasized the sophisticated nature of this scam, noting how the perpetrators used social media platforms to initially establish contact, then moved to more private communication channels to build false trust before executing the financial fraud through seemingly legitimate business entities.
This case serves as a stark warning about the dangers of unsolicited investment offers through social media, particularly those promising unusually high returns with minimal risk. Authorities advise citizens to exercise extreme caution when approached with such opportunities and to verify the legitimacy of any investment platform through official channels before transferring funds.
