A native of Haripad has reportedly lost a staggering Rs 75 lakh in an elaborate iridium trading scam that leveraged names strikingly similar to Elon Musk’s SpaceX and the American space agency NASA. The fraudsters successfully convinced the individual that they could acquire iridium directly from NASA and then resell it for a substantial profit, drawing him into their illicit scheme.
The large sum of money was collected under the pretense of facilitating iridium transactions through an agency purportedly named ‘Ultra Space X’. Upon realizing that he had been gravely misled, the victim promptly filed a complaint with the District Police Chief. Following this, the Haripad Police Inspector launched an official investigation into the matter.
The complainant was initially approached by an acquaintance who extended an invitation to partner in this lucrative iridium business. Despite initial hesitation, the victim eventually succumbed to persistent persuasion. To lend credibility to their claims, the acquaintance introduced a petrol pump owner from Kollam and a woman hailing from Ooruttambalam, Thiruvananthapuram, presenting them as existing participants in the same purportedly profitable venture. The victim subsequently handed over an initial payment of Rs 8 lakh. Over a period, he transferred a total of Rs 48,20,000 in various installments. The petrol pump owner, citing other financial commitments, informed the victim that the business operations were being managed by the Ooruttambalam woman’s son, daughter, and son-in-law.
When the promised iridium failed to materialize despite the significant payments, the complainant confronted the individuals who had received his money. The fraudsters then claimed that the funds already paid were lost, but offered a glimmer of hope, assuring him that the entire amount would be reimbursed within ten days if an additional Rs 25 lakh was provided. Desperate to recover his investment, the victim borrowed money and paid this supplementary sum. However, upon approaching them again for repayment, they simply asserted a lack of funds. The complainant then requested that they issue cheques as a form of guarantee. He was subsequently provided with two cheques, accompanied by a promise of full repayment by October 20.
After the stipulated date of October 20 passed without any payment, the victim revisited the homes and workplaces of the fraudsters. They then issued him two new cheques, one for Rs 18 lakh and another for Rs 10 lakh. Unfortunately, both cheques bounced due to insufficient funds in the accounts. Police are now investigating whether the same syndicate might have perpetrated a similar fraud in Oachira. The Haripad resident had also been given a letter, purportedly from ‘NASA Ultra X Agency’, requesting iridium delivery from America, along with photographs of iridium and an instrument allegedly used for its inspection. These items have since been handed over to the police as evidence in the ongoing investigation.