₹100 Crore Scam: Chinese Citizen Arrested In Delhi

New Delhi: A Chinese citizen, Fang Chenjin, has been arrested by the Delhi Cyber Cell police in connection with a massive ₹100 crore cyber fraud case.

Details of the Scam:

Fang Chenjin was allegedly involved in online stock trading fraud through WhatsApp groups. Victims, including complainant Suresh Kolichiyil Achuthan, were promised lucrative returns on investments. Achuthan filed a complaint after being defrauded of ₹43.5 lakh.

The fraudsters lured victims with stock market training sessions and encouraged them to invest. The funds were then diverted to several controlled bank accounts for fraudulent purposes.

Investigation Findings:

A bank account under the name Mahalakshmi Traders was identified in connection with the scam.
Fang Chenjin was residing in the Safdarjung Enclave area of Delhi.
Cybercrime investigators seized his mobile phone, which contained WhatsApp conversations linked to the fraud.

Scale of the Fraud:

At least 17 complaints have been registered on the Cyber Crime Portal, all linked to a single bank account.
Preliminary investigations reveal that the fraud amounts to ₹100 crore.
This case has connections to other cybercrime and money laundering activities in Andhra Pradesh and Uttar Pradesh.

Ongoing Investigation:

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Delhi DCP (Shahdara) Prashant Gautam stated that the investigation is ongoing, with a focus on uncovering the extent of the involvement of Chenjin and his accomplices. The authorities are delving deeper into the case to identify additional links and ensure accountability.