Kochi, Oct 17 (PTI) Three people were arrested on Friday from Kozhikode in connection with a cyber investment fraud case in which a city-based businessman lost Rs 25 crore, police said.
The arrested are from Kozhikode.
According to police, a woman had been arrested earlier in connection with the case.
The complainant, a businessman from Kochi, reportedly transferred around Rs 25 crore between March 2023 and August 2025 after being promised high returns through investments in the dubious “Capitalix” online trading platform.
Police said the businessman realised he had been duped when he was unable to retrieve his investment.
Kochi City Police Commissioner Putta Vimaladitya said an investigation team stationed in Pantheerankavu for a week identified and arrested the suspects. “The involvement of a Kozhikode-based group came to light during the probe. Our team recovered around 40 mobile phones, 40 bank accounts, and over 200 SIM cards. The money was routed abroad using these accounts,” he said.
Police suspect the gang had a role in several other cybercrimes. The arrested trio allegedly received about Rs 11 lakh as commission.
Investigators believe the funds were transferred to Cyprus.
“A letter was sent to the police authorities in Cyprus seeking details, but we have not received a response yet,” a police official said.
The three were produced before a court and remanded to judicial custody.
Police said they will soon move a petition seeking their custody for further interrogation. PTI TBA TBA ROH
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