Chinese language man, allegedly linked to ₹100 Crore fraud syndicate, arrested in Delhi | Newest Information India

The arrest follows a grievance lodged by Suresh Kolichiyil Achuthan, who was tricked into investing ₹43.5 lakh in fraudulent inventory market coaching periods that turned out to be scams.

The Rip-off

The fraudsters lured victims into fraudulent inventory market coaching periods, finally tricking them into investing in a number of transactions. One such sufferer, Suresh Kolichiyil Achuthan, reported being cheated out of ₹43.5 lakhs on July 24. These investments had been directed to a number of financial institution accounts managed by the fraudsters.

The investigation revealed that Chenjin’s rip-off was linked to 17 legal complaints registered with the Cyber Crime Portal, all tied to the identical Fincare Checking account.

“The fraud was carried out by on-line inventory buying and selling scams orchestrated through WhatsApp teams, focusing on people. Additional investigation revealed that Fang Chenjin is linked to 2 different important fraud circumstances involving cybercrime and cash laundering in Andhra Pradesh and Uttar Pradesh,” stated Prashant Gautam, DCP Shahdara.

The Investigation

The police analysed financial institution accounts, cell numbers, and name particulars to trace the cheated quantity. Their thorough investigation led to a checking account within the identify of Maha Laxmi Merchants in Mundka, Delhi, which was discovered to be linked to fraudulent transactions. Additional inquiry revealed a cell phone registered in Chenjin’s identify, which was used to direct the fraudulent actions.

Fang Chenjin, a Chinese language nationwide residing in Delhi’s Safdarjung Enclave was arrested after proof, together with a cell phone and WhatsApp chat logs had been recovered from his possession. The WhatsApp conversations between him and an affiliate clearly confirmed that he was directing the fraudulent actions, together with the recharge of the cell quantity used within the rip-off.