Six held for duping Madurai man of nearly 1 cr rupees in online share trading scam

CHENNAI: Cybercrime sleuths have arrested as many as six persons for allegedly cheating a man from Madurai to the tune of Rs 96.5 lakh after the victim responded to a WhatsApp advertisement promoting a high-profit 'international' share market trading business in June this year.

Trusting the claims of the 'business', the petitioner had transferred funds across multiple bank accounts. Eventually, he realised that he had been deceived when the promised returns were not provided, following which he lodged a complaint with the Madurai District Cyber Crime Police Station for legal action and recovery of the lost amount.

During their probe, investigators froze a sum of Rs 38.28 lakh, that was discovered across the various bank accounts associated with the suspects, said a note from the cyber crime division.

Upon analysing the victim's transaction details, it was discovered that an amount of Rs 20 lakh was sent to a single bank account, which was then transferred to two bank accounts belonging to Seeni Mohamed from Alwar Thoppu in Tiruchy's Tennur. Further analysis revealed that he had withdrawn the cash via cheque from his bank accounts. The cyber crime police then froze Seeni Mohamed's accounts and arrested him.

Based on further investigation, it was revealed that the following 'mules' were involved in the crime under the direction of an individual named Ibrahim from Uraiyur in Tiruchy, for a commission: Mohamed Sabeer, Mohamed Riyaz, from Dhana Rathinam Nagar, Tiruchy, Mohamed Azharudeen from Uraiyur, and Mohamed Marzuk from Ayyampettai, Thanjavur.

Further explaining their modus operandi, the cops said the accused had withdrawn the cash and handed it over to persons who showed code words received on WhatsApp. This money was then transferred to other bank accounts. The accused received a commission of Rs 1,000 every time an amount worth 1 lakh rupees was transferred. Through this method, the suspects laundered approximately Rs 1 crore from the public, probe revealed.

Following the probe, the special team headed by the Inspector of Police went to Tiruchy and Thanjavur and arrested the said accused, seizing cell phones, SIM cards, bank passbooks and ATM cards used in the crime. The accused were subsequently remanded in judicial custody.

Preliminary inquiries indicated that these individuals were involved in cyber offences in multiple states, including Karnataka, West Bengal, Delhi and various regions in Tamil Nadu.