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, the police said.
The arrested are from Kozhikode.
According to the 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.
The 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. -- PTI
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