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Sunday, Jul 13, 2025
Cybercrime investigators bill it as one of the biggest online frauds in the district.
Highrich Online Shoppe Pvt Ltd is accused by ED of illegally raising around Rs 1,500 cr from the public through pyramid schemes using its online grocery shop and Highrich cryptocurrency as cover.
Earlier, police had arrested three persons from Kozhikode for their involvement in the scam.
The DCP said some officials of certain private banks outside the state have been colluding with the fraudsters.
The accused has cases in at least eight police stations, including in Tamil Nadu.
It said Highrich promoters collected around Rs 1,500 crore through these multi-level marketing Ponzi schemes.
1.86 lakh mobile phones, involved in cyber fraud cases, were also blocked countrywide.
The accused, a native of Madikeri in Karnataka, used the help of mobile phone-selling shops to activate SIM cards in the name of strangers.
A 49-year-old Kanniyakumari native suffered the most, losing Rs 1.44 crore in a single go.
Local police overlooked a Rs 2 crore complaint against the accused.
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