Wed Nov 06 12:10:36 UTC 2024: ## Chennai Police Bust Online Share Trading Scam, Arrest Two

**Chennai, November 6, 2024:** The Cyber Crime Wing of the Chennai Police has arrested two individuals for their alleged involvement in an online share trading fraud that defrauded a local woman of ₹10.27 crore. The victim, the wife of a Kotturpuram businessman, was lured into the scam through a social media advertisement offering investment tips.

The victim joined a WhatsApp group and downloaded a trading app, where she deposited the substantial sum between April and July. Despite the app displaying inflated profits, the victim was unable to withdraw her money and was instead asked for further investments, prompting her to realize she had been scammed.

The police, led by Inspector Hema, were able to freeze ₹46 lakh of the stolen funds but the remaining amount was quickly transferred to suspected Malaysian agents. After investigating social media posts, messages, phone numbers, and bank details, police apprehended Rajesh Ram (36) and Srinivasan (42) in connection with the scam.

Authorities seized three mobile phones, two Aadhaar cards, and one PAN card from the accused, who allegedly opened bank accounts to facilitate the transfer of funds to the Malaysian agents.

Police warn the public to be vigilant about high-profit investment advertisements and fake investment apps, urging them not to transfer money to unknown bank accounts.

They encourage anyone who encounters such scams to contact the cybercrime helpline at 1930 or file a complaint with the police.

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