CHENNAI: The Greater Chennai Police’s north zone cyber crime unit on Saturday said they have arrested a man for cheating a person of Rs 22 lakh by promising huge returns in trading.
The victim Dillibabu (35) is a resident of Sembium. The complaint states that O Muthumanickam (55) befriended him on a chatting application and convinced him of huge returns on investment.
Muthumanickam collected around Rs 22.7 lakh from the victim and spent it on sports betting and trading websites like Spreadex. However, the victim did not get any returns or the original investment back, after which he filed a police complaint.
The accused was taken into custody from a house on East Coast Road near Uthandi and sent to prison.