Two individuals who orchestrated a fraudulent online investment scheme and cheated a city-based doctor of Rs90.8 lakh have been arrested by the cybercrime wing of the Chennai police.
The accused, identified as 33-year-old T P Arun Kumar from Salem and 41-year-old K Kannan from East Tambaram, were involved in luring Dr. G Moorthy into investing in an online trading platform that promised high returns.
According to police, Dr. Moorthy lodged a complaint after discovering that the money he invested had been diverted to multiple mule bank accounts. The funds were later converted into cryptocurrency through peer-to-peer transactions on Binance, a popular trading platform.
Investigators found that Arun Kumar and Kannan acted as intermediaries in a wider scam network, earning commissions of up to 25% for their roles. The larger fraud scheme reportedly targeted investors by leveraging social media channels and promoting fake stock trading applications and websites.
The suspects were produced before the XI Metropolitan Magistrate Court in Saidapet and have been remanded in judicial custody.
