New Delhi: In a major breakthrough, Delhi Police uncovered a Rs 100 crore cyber fraud network and arrested Chinese national Fang Chenjin from Safdarjung Enclave. The racket was allegedly duping people through fake online stock trading schemes, with funds funneled into multiple accounts to evade detection.The Complaint That Triggered the InvestigationThe investigation began after a complaint was lodged by Suresh Kolichiyil Achuthan on July 24. He alleged he had been misled into attending fraudulent stock market training sessions and coerced into making investments, amounting to Rs 43 lakh. These investments were systematically siphoned into fake accounts, sparking a detailed probe into the fraudulent network.How the Cyber Crime Network Was ExposedUsing advanced technological surveillance and meticulous scrutiny of suspicious transactions, the police traced the activities to Maha Laxmi Traders, a business entity based in Tundra, Delhi. This led investigators to arrest Fang Chenjin, who was operating from Safdarjung Enclave.During the interrogation, it was revealed that Fang Chenjin is also involved in two other cyber fraud and money laundering cases in Andhra Pradesh and Uttar Pradesh. Moreover, 17 additional complaints have been filed on Delhi Polices cybercrime portal, all connected to the same Fincare Bank account tied to this elaborate Rs 100 crore fraud network.Sophisticated Modus OperandiThe scam exploited social media platforms like WhatsApp to lure victims with promises of high returns through stock trading schemes. Once trust was established, victims were persuaded to make significant investments, which were then diverted to shell accounts under false identities.Authorities are continuing their investigation to identify other potential accomplices and trace the money trail. With such large-scale financial fraud uncovered, police officials are urging citizens to remain cautious while investing online.
