CHENNAI: The Chennai city cyber crime police have arrested two men on charges of swindling Rs 10.3 crore from a woman over several transactions under the guise of online trading. The duo, who had lured the woman by promising huge profits, were remanded in judicial custody on Wednesday. According to the police, the money was transferred to Malaysian agents.
The arrested were identified as Rajesh Ram (36) of Pozhichalur near Pallavaram and Srinivasan (32) of KK Nagar. A few months ago, the victim Radha (name changed) contacted a mobile number after seeing an advertisement for investment trading tips on social media. She was added to a WhatsApp group and downloaded an online share trading application through a link sent by the fraudsters.
They told her to invest through the mobile application to get higher returns. Believing it to be true, Radha deposited Rs 10.3 crore as investment into various bank accounts mentioned by the fraudsters. To dupe her, the fraudsters showed her profits she gained on the mobile application. However, she was unable to withdraw the profits to her bank account. When the fraudsters demanded more money to allow her to withdraw the money, Radha realised she was being duped and lodged a police complaint.
Based on the complaint, a case was registered and the two were nabbed. The police also recovered three cell phones, two Aadhaar cards and a PAN card from them. The duo had opened various bank accounts for the purpose of cheating people to transfer money into these fake bank accounts which in turn were transferred to Malaysian agents, the police said.