Three cyber criminals held in Rs 92 lakh online money laundering scam

Chennai, Nov 7 (UNI) The Cyber Crime Wing of Tamil Nadu Police on Thursday arrested three Cyber Criminals in connection with the Rs 92 lakh Online Money Laundering scam in Fraudulent Online Trading Scheme.

The trio were involved in various cyber frauds in multiple states.

A release from the Cyber Crime Wing, Headquarters, Chennai, said the online trading scam is a growing cyber threat where fraudsters impersonate reputable trading platforms, promising unusually high profits on select investments.

They lure victims into WhatsApp groups featuring fake testimonials from supposed successful investors, building trust and credibility.

Once confident, victims are asked to transfer funds to specified bank accounts, assured of substantial returns.

However, after investing significant amounts, the scammer severs contact, leaving victims unable to withdraw their money, ultimately resulting in financial loss.

On July 19, a petitioner from Madurai reported being defrauded of Rs 92,16,710 after responding to a Facebook advertisement promoting a high-profit online trading scheme. Trusting the claims, the petitioner transferred funds across multiple bank accounts.

Eventually he realized that he had been deceived when the promised returns were not provided, prompting him to file a complaint with the Madurai District Cyber Crime Police Station for legal action and recovery of the lost amount.

In order to identify the culprits involved in this case, and following the directions of Mr. Sandeep Mittal, ADGP, Cyber Crime Wing, Chennai, under the supervision of Mr. Karuppiah, ADSP, CCW, Madurai and led by Inspector Mrs. Priya Senthilkumar, the team conducted an inquiry on the frozen sum of Rs 21,08,703 found in various bank accounts associated with the suspects.

Upon analyzing the victim’s transaction details, it was discovered that cyber criminals, identified as Nithish Kumar (S/o Venkatesan) from Namakkal, Chandrasekaran (S/o Lakshmanan) from Namakkal and Suresh (S/o Krishnan) from Sauripalayam, Coimbatore District, used a Bandhan Bank account for their fraudulent activities.

The investigation uncovered that these individuals had opened a current bank account named “Murugan Traders” under Nithish Kumar’s proprietorship and earned lakhs as commissions for each transaction amounting to Rs one crore.
The special team went to Namakkal and Coimbatore and arrested the suspects.

Items seized during the operation included laptops, mobile phones, SIM cards, bank passbooks, and ATM cards used in the crime.

The accused were subsequently remanded to judicial custody.

Preliminary inquiries indicated that these individuals were involved in cyber offenses in multiple states, including Andhra Pradesh, Bihar, Gujarat, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Punjab, Rajasthan, Telangana, Uttar Pradesh, West Bengal, Nagaland, Odisha, and various regions in Tamil Nadu.

The total fraudulent transactions amount to approximately Rs 3 crore in the above said bank account.

The Additional Director General of Police commended the special team on their
successful operation, which resulted in the apprehension of key suspects, and further directed them to intensify efforts to apprehend the remaining individuals involved in the crime.