CHENNAI: The cyber crime wing of the Central Crime Branch (CCB) has arrested the man who duped a Chennai resident of Rs 1.23 crore in an online stock market investment scam.
The victim, Mahendran, a resident of Villivakkam, had received a WhatsApp message from an unknown person who promised high returns on stock market investments. Believing it to be true, he downloaded a fake online trading mobile application and invested Rs 1 lakh, said a police officer. Initially, he saw profits generated on the app. The accused, citing new rules, asked the victim to deposit more money.
By the time Mahendran realised it was a scam, he had already transferred Rs 1.23 crore to multiple bank accounts that the accused had provided. He then lodged a police complaint, and a case was registered under relevant sections of the Bharatiya Nyaya Sanhita, 2023, and the Information Technology Act, 2000.
Investigations by the cyber crime wing revealed the identity of the accused – Senthil Kumar (41) from Erode. Kumar was arrested on Friday and remanded in judicial custody.
In a similar online investment scam involving `6.58 crore, an absconding accused, Madhesh Kumar, was arrested on Saturday. The police said nine other accused were already arrested in the case. Their bank accounts were frozen and a portion of the defrauded money was recovered.