THIRUVANANTHAPURAM: Cheeroth Misha (39), a resident of Kuttoor, has been arrested by Viyyur police for organizing an elaborate scam that promised substantial earnings through investments in the share market.
The accused devised a fraudulent scheme by leasing luxurious villas and flats, masquerading as part of a family. Under the guise of offering lucrative monthly interest payments, she swindled large sums of money from numerous individuals.
Investigations have revealed a pattern of theft, spanning across multiple police stations, where she exploited many others in the same manner.
The police uncovered that she employed a consistent modus operandi to defraud multiple victims, leading to cases being reported in various police jurisdictions.
She led investors to believe that she had earned substantial profits through share market investments.
Employing a fiduciary system, they initially provided significant interest to those who deposited small amounts.
However, once the accused realized that the investors were convinced, she compelled them to invest substantial amounts. Consequently, those who chose to invest in this manner found themselves devoid of any interest or principal funds.
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