The city police’s cybercrime unit has arrested six individuals for allegedly defrauding a private company of over Rs 10 lakh by promising to convert their investment into USDT, a type of cryptocurrency, at a favorable rate.
According to the complaint, a group approached the firm, encouraging them to invest money with the assurance that the cash would be deposited as USDT to their branch in Dubai. However, after receiving the funds, the group failed to deliver on their promise, prompting the company to file a police complaint.
The south zone cybercrime wing launched an investigation, tracing the gang to Theni, where they were apprehended.
The arrested individuals have been identified as V Abhiraja (29), A Loganathan (23), E Kumaresan (28), S Mageshkumar (25), and S Aswanth (23) from Madurai, along with Mohammed Ismayil Parvesh (21) from Karur district.
Authorities seized assets totaling Rs 10.9 lakh, including an SUV, eight mobile phones, three iPads, 33 SIM cards, 20 ATM cards, and four bank passbooks from the suspects. All six individuals were presented before a magistrate and have been remanded to judicial custody.
