The Central Crime Branch (CCB) Cyber Crime Wing Chennai has arrested four individuals, including two women, in connection with a sophisticated online investment fraud that cheated a Chennai resident of Rs3.4 crore. One mobile phone used in the crime was also seized.
How the Scam Operated
The victim, Satyanathan, 68, from Adyar, Chennai, stated that in July 2025, he was added to a WhatsApp group by individuals posing as officials of a Bangalore-based trading firm. Through professional discussions, they gained his trust and persuaded him to download a particular mobile trading app.
Following instructions from the fraudsters, Satyanathan transferred Rs3.4 crore from his Axis Bank account to 13 different bank accounts between July 7 and July 25, 2025. When he later requested his funds, the app had been deactivated.
Arrested Suspects
Balasubramanian (51) – Thanjavur
Murugesh (49) – Melur, Thoothukudi district
EPC (35) – Sankarperi, Thoothukudi district
Panchavarnam (33) – Tiruchendur
Investigation revealed that the main accused approached the women, members of self-help groups, offering commission in exchange for bank accounts. Murugesh received Rs6,00,790 from the victim’s transfers, withdrew the money via cheque, and handed it to the intermediary after deducting his commission. Approximately Rs45 lakh was laundered through five bank accounts this way.
All four accused were presented before court on December 25, 2025, and remanded to judicial custody.
Police Advisory
Chennai Police warned the public against:
Fake trading apps
Unverified WhatsApp groups
Investment schemes promising guaranteed high returns
They emphasized that providing bank account details for commission is a crime. Victims are advised to report online frauds immediately on the National Cyber Crime Reporting Portal
or call 1930, and approach the nearest Cyber Crime police station.
