The Cyber Crime Wing of the Central Crime Branch, Chennai, has arrested two men from Tirupur and Thoothukudi for operating mule accounts in a Rs2.49 crore online trading scam targeting a 70-year-old woman. The fraud is reportedly linked to a Malaysia-based cybercrime syndicate.
The victim was lured through WhatsApp to install a fraudulent trading app called HEMSecurities, which showed fake profits to entice her. Believing the scheme, she transferred Rs2.49 crore in nine installments across eight bank accounts between December 2024 and January 2025. When she tried to withdraw money, her requests were blocked, and she was pressured to deposit more funds.
Upon her complaint, the Chennai Cyber Crime Police began investigating. They traced the fraudulent transactions to a Karur Vysya Bank account under Hotel Sri Sri Sai Krishna in Tirupur, managed by Ammalu Kutti. Further inquiry revealed that Ammalu Kutti had handed the account kit and credentials to Jayaraj of Tirupur, who then passed them to Ramkumar of Thoothukudi for commission.
Both Jayaraj (32) and Ramkumar (32) were arrested by the Cyber Crime Police. They confessed to supplying multiple mule accounts to cyber fraud syndicates. Police seized mobile phones, bank passbooks, cheque books, ATM cards, and identity documents during their arrest.
Authorities suspect a wider network of cyber fraudsters operating from Malaysia. The accused’s bank accounts were found linked to several cybercrime cases registered across different Indian states.
Greater Chennai Police Commissioner A. Arun warned the public to be cautious of online trading platforms promising high returns and urged citizens to avoid sharing bank details with unknown persons. Victims are encouraged to report frauds promptly via the National Cyber Crime
