CHENNAI: The Cyber Crime Wing of the Avadi Police Commissionerate on Tuesday arrested three individuals, including a private bank employee and a senior citizen, for allegedly facilitating an online trading scam in which a man lost Rs 28 lakh.
The police identified the victim as Jagir Hussain (42), a resident of Paruthipattu in Avadi.
According to the complaint, Hussain received an advertisement on WhatsApp regarding an online trading platform that promised “double returns” on investments.
Believing this to be true, he transferred a total of Rs 28,70,500 to various bank accounts provided by the fraudsters over a period of several months.
When he failed to receive the promised profits or his principal amount, Hussain lodged a complaint with the Avadi Police Commissioner.
A case was registered under the BNS and the IT Act. Investigation revealed that the three accused had opened bank accounts and provided them to the main fraudsters to route the money in exchange for a commission.
The arrested were identified as Babu Balakrishnan (46), a businessman; Vijaya (62), a homemaker; and Prasad Kumar (33), an MBA graduate and employee of a private bank. The trio was produced before a Judicial Magistrate in Poonamallee and remanded to Puzhal Central Prison.