Online trading fraud: Three men from Coimbatore and Namakkal arrested
The Hindu
The Cyber Crime Wing of the Tamil Nadu Police arrested three men from Coimbatore and Namakkal districts on charges of cheating several people by coaxing them to transfer money on the pretext of receiving high returns on investments in an online trading scheme.
The Cyber Crime Wing of the Tamil Nadu Police arrested three men from Coimbatore and Namakkal districts on charges of cheating several people by coaxing them to transfer money on the false promise of high returns on investments in an online trading scheme.
On July 19, a complainant from Madurai reported that he was defrauded of ₹92 lakh after he responded to a Facebook advertisement promoting a high-profit online trading scheme. Convinced by the claims made by the advertisers, he transferred funds across multiple bank accounts. Subsequently, when he did not receive the promised returns, he realised he was being scammed, and lodged a complaint with the Madurai District Cyber Crime police station.
The police team conducted an inquiry into the frozen sum of ₹21,08,703 found in various bank accounts, and upon analysing the victim’s transaction details, it was discovered that three persons, identified as V. Nithish Kumar, L. Chandrasekaran from Namakkal, and K. Suresh from Sauripalayam, Coimbatore, used one such bank account for their alleged fraudulent activities.
The investigation revealed that these individuals had allegedly opened a current bank account for ‘Murugan Traders’, under Nithish Kumar’s proprietorship, and earned lakhs as commission for each transaction amounting to ₹1 crore.
The police team went to Namakkal and Coimbatore to arrest the suspects. Preliminary inquiries indicated that these individuals were involved in cyber offences in multiple States, including Andhra Pradesh, Bihar, Gujarat, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Punjab, Rajasthan, Telangana, Uttar Pradesh, West Bengal, Nagaland, and Odisha, as well as various other regions in Tamil Nadu.
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