Image used for representational purposes
| Photo Credit: Getty Images/iStockphoto
The Cyber Crime Police of the Central Crime Branch (CCB) have arrested four men who allegedly swindled ₹2.26 crore from an individual in T. Nagar, Chennai, through a fraudulent share trading scheme.
Kishore, a resident of T. Nagar, received a WhatsApp message inviting him to join a share trading platform. He joined the associated groups and clicked on a link that led to an online share trading website. Over time, he deposited a total of ₹2.26 crore through multiple transactions into various bank accounts. He realised he had been duped when he was unable to withdraw any money. Based on his complaint, a case was registered at the Cyber Crime Police Station of the Central Crime Branch (CCB), Greater Chennai Police.
City Police Commissioner A. Arun ordered the formation of special teams to investigate the case, and a detailed probe was conducted to trace the flow of money. The police found that fraudsters from Tirunelveli and Tenkasi had colluded to execute the scam.
The special teams arrested four accused — Sathyanarayanan, 60, Manivel, 25, Roshan, 35, and Simson Chelladurai, 26. Mobile phones and money received as commission to the tune of ₹4.38 lakh were recovered from the accused.
Modus operandi
The accused had opened multiple current accounts in various banks by providing addresses of temporary rental buildings under the pretext of setting up businesses. They operated from different districts across the State. The group had been active for the past two years with the intent to defraud the public by soliciting investments from unsuspecting victims and transferring the funds abroad through agents.
The police added that an attempt by the accused to involve young cine actresses in the online trading scam was prevented in time by the CCB.
The police have warned the public not to rent out their bank accounts to others, as doing so can make them culpable in criminal offences. Building owners have also been advised to exercise caution when renting out commercial spaces, as fraudsters often misuse rental agreements to obtain GST numbers and commit such offences.
Mr. Arun further cautioned the public to be careful about fake calls, high-profit investment advertisements, fake investment apps and websites, and advised citizens not to transfer money into unknown bank accounts. In the event of an online financial fraud, contact the cybercrime helpline number 1930 or the national cybercrime reporting portal, www.cybercrime.gov.in.
Published – June 30, 2025 04:41 pm IST