63-Year-Old India Former Congress Candidate Arrested in ₹1.84 Crore Online Investment Fraud Case

A former Congress party candidate from India Manipur has been taken into custody by Kerala Police in connection with a massive online investment fraud amounting to ₹1.84 crore. The accused, identified as 63-year-old Keisham Ningthemjao Singh, allegedly duped a resident of Mannarkkad with promises of high returns on stock market investments.

The Bait-and-Switch: Small Returns to Build Trust

According to police officials, the fraud took place between August and November 2025. The victim was initially approached and convinced to invest small amounts in online stock trading schemes that promised lucrative profits. To build credibility, the accused and his associates reportedly offered small returns on the initial investments.

Once the victim's trust was secured, the gang persuaded him to transfer progressively larger sums of money. Over a span of just a few months, the victim made multiple deposits totalling ₹1,84,52,524 (approximately ₹1.84 crore), which were subsequently funnelled into bank accounts controlled by the accused.

Funds Diverted to "Mule" Account

Investigations revealed that a significant portion of the defrauded money was transferred to an account held at the Central Bank of India's Porompat branch. The accused is said to have withdrawn these funds using cheques. Preliminary evidence suggests that the account was a "mule account"—opened specifically to facilitate the fraudulent activity.

Authorities are currently analysing bank records, electronic logs, and IP addresses to trace the money trail and identify other members involved in the network.

Part of a Larger Cyber-Fraud Syndicate

Notably, this is not Singh's first alleged involvement in such crimes. Police sources confirm that the accused has at least five other cheating cases registered against him in the past. Investigators suspect that he is part of a larger, organised syndicate specializing in online trading frauds, potentially involving multiple members across state lines, including ground-level operatives.

"The modus operandi suggests a well-structured network," said an investigating officer. "We are looking into digital evidence and linked accounts to unravel the full extent of this racket."

As the investigation deepens, more arrests are expected in the coming days.

BrokersView Reminds You

As online investment scams continue to evolve, verifying the legitimacy of investment opportunities and avoiding transfers to unverified accounts remain critical safeguards against financial fraud. Always verify the identity and regulatory status of any financial services provider before engaging.  

Report fraud here.