Chennai native held for swindling Rs 1.8 cr via mobile investment app

As many as 13 persons had lodged complaints against 'Tata Investment App' to the cyber crime police. They had invested a total of Rs 37.18 lakh in the app and received no returns.
Image used for representational purpose only.
Image used for representational purpose only.

THOOTHUKUDI: Thoothukudi Cyber Crime police have arrested a 28-year-old Chennai native for allegedly cheating people of Rs 1.8 crore through a fraudulent mobile application, 'Tata Investment App'. The suspect has been identified as S Roshan. Sources said inquiries with him have reportedly revealed that Uttam, a native of Nepal, was the scam's kingpin.

As many as 13 persons had lodged complaints against the app to the cyber crime police. They had invested a total of Rs 37.18 lakh in the app and received no returns. D Iswarya of Muthaiapuram, one of the complainants, alone lost Rs 24 lakh. Police said the number of complaints might increase significantly as transactions of Rs 1.8 crore had taken place in the suspects' bank accounts between July and August, 2021. The money was further transferred to several accounts.

Cyber crime sleuths' probe into the complaints initially led them to the bank account of KB Sankar of Thiruvanmayur in Chennai. "Though Sankar had died two years ago, inquiries revealed that his son Roshan had been using his father's bank account to cheat public through the fraudulent app," police said.

Cyber crime wing inspector Sivasankaran told TNIE that Roshan had met Uttam in the Philippines two years ago. "Uttam operated the app, and through advertisements of doubling investments, they cheated many. Based on Roshan's confession, Uttam, who is currently hiding in the Philippines, has been added as a suspect in the case. At least 60 people are involved in this cheating network. They operate the app from different locations and keep transferring the money. We are awaiting IP logs from private banks. I appeal to all victims of this app to come forward and lodge complaints," he urged.

The suspects have been booked under sections 419 and 429 of the Indian Penal Code, and section 66D of the Information and Technology Act. Roshan has been lodged at Perurani district jail.

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