Chennai, May 24, 2025 — The Cyber Crime Police of the Central Crime Branch (CCB), Greater Chennai Police, have arrested three individuals from Kerala in connection with a high-profile online share trading scam that defrauded a retired Indian Forest Service (IFS) officer of ₹6.85 crore. This follows the earlier arrest of five suspects last month related to the same case.
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Victim Tricked Through WhatsApp and Fake Trading Apps
The 68-year-old retired IFS officer, based in Chennai, initially received a WhatsApp message inviting him to join “highly profitable share trading apps.” Enticed by the promise of significant returns, he joined two such WhatsApp groups. The fraudsters then persuaded him to download a fake online share trading app through a link they provided.
Over time, the scammers manipulated the victim into transferring a total of ₹6.58 crore into various bank accounts under the pretense of share investments. When the returns never materialized and communication ceased, the victim realized he had been defrauded and filed a complaint with the Cyber Crime Police Station in February 2025.
Investigation Leads to Kerala
Following the complaint, the CCB initiated an extensive investigation. By analyzing call records and tracking bank transactions, they traced the fraud network to Kerala. The three suspects arrested have been identified as:
Sreejith R. Nair (47) from Ernakulam
Abdul Salu (47) from Kozhikode
Mohammed Farwais (44) from Malappuram
The police seized three mobile phones used in the crime and froze multiple bank accounts linked to the suspects.
Modus Operandi: Hawala and Cryptocurrency
Police officials explained that the accused opened bank accounts specifically for fraudulent transactions. Once the victims transferred money, it was routed abroad through illegal Hawala channels and subsequently brought back into India as USDT cryptocurrency via the Binance trading app. This complex laundering method was intended to obscure the money trail and avoid detection.
Online Scams on the Rise
Authorities warn that online investment scams and fake part-time job offers are increasingly targeting victims through advertisements on social media platforms. Fraudsters often provide links to fake stock trading apps or websites, and set up bogus demat accounts, falsely promising massive profits in a short time.
These scams exploit people’s financial aspirations, often leading to devastating losses and emotional trauma for the victims.
Police Commissioner’s Warning to Public
Greater Chennai City Police Commissioner A. Arun issued a strong advisory to the public, urging vigilance. “People should be extremely cautious of unsolicited investment offers, high-profit schemes, and unknown mobile applications or websites. Do not transfer money into bank accounts that are not verified,” he stated.
He further emphasized the importance of prompt reporting: “In case of online financial fraud, citizens should immediately contact the cybercrime helpline 1930 or report the incident via the *National Cyber Crime Reporting Portal at www.cybercrime.gov.in*.”
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