A 41-year-old from Erode was arrested for defrauding a Chennai man of ₹1.23 crore in an online stock market scam
Arrest Made in Online Stock Market Investment Fraud
The Central Crime Branch (CCB), Cyber Crime Wing has arrested a 41-year-old man from Erode. This arrest is in connection with an online stock market investment fraud involving ₹1.23 crore, according to police.
Details of the Fraud
Police report that the complainant, Mahendran, lives in Villivakkam, Chennai. He received a WhatsApp message claiming that investments in the online stock market would yield high returns. Believing this offer, he downloaded a stock trading application and invested ₹1 lakh. When he tried to withdraw the profits shown on the app, he was told that “new rules” required additional investments.
Trusting these assurances, Mahendran transferred a total of ₹1.23 crore through multiple bank accounts. After realizing he had been cheated, he filed a complaint with the Greater Chennai Police Commissioner.
Arrest and Public Warning
Following the investigation, police arrested the accused, Senthil Kumar (41), from Moolapalayam in Erode district. Two mobile phones were seized from him.
Police have warned the public about online investment frauds and fake part-time job advertisements on social media platforms like Facebook, Instagram, and YouTube. They advised people not to trust fake stock trading app links, fraudulent investment websites, or promises of unusually high returns. They also cautioned against opening fake demat accounts.
| Detail | Information |
|---|---|
| Accused Name | Senthil Kumar |
| Age | 41 |
| Location of Arrest | Erode |
| Victim Name | Mahendran |
| Victim Location | Villivakkam, Chennai |
| Total Amount Involved | ₹1.23 crore |
