CHENNAI: In yet another online trading scam, a 27-year-old man hailing from Kerala was arrested by the Tamil Nadu Cyber Crime Police for allegedly operating as a mule account holder.

A 34-year-old teacher from Madurai responded to a Facebook advertisement promising a high profit return on online investment. The victim ended up transferring money to different bank accounts and lost Rs 52.6 lakh. After realising the scam, the teacher registered a police complaint.

According to an official release, the arrested man was identified as N Anwarsha of Alappuzha, Kerala. He had opened a bank account under the name of a scrap company called 'Zerv' for committing the crime. Cyber sleuths found that Anwarsha has defrauded the public by using multiple bank accounts.

The police recovered mobile phones, SIM cards, bank account passbooks, passports and ATM cards from him.