New Delhi: According to DCP Shahdara, a Chinese citizen named Fang Chenjin was taken into custody by the Shahdara Cyber Police Station in the nation’s capital in relation to a significant cyber fraud case involving the theft of more than Rs. 43.5 lakhs.

Prashant Gautam, DCP Shahdara, stated: “The fraud was committed by means of online stock trading schemes that were planned using WhatsApp groups and targeted people. Fang Chenjin is connected to two other noteworthy fraud instances involving cybercrime and money laundering in Andhra Pradesh and Uttar Pradesh, according to further research.

He said that 17 criminal complaints have been filed with the Cyber Crime Portal, all of which are connected to the same Fincare Bank account and involve fraud totaling more than Rs. 100 crores.

Suresh Kolichiyil Achuthan filed a complaint on July 24 at the Cyber Crime Portal, alleging that he was duped into depositing Rs. 43.5 lakhs in several transactions after being enticed into fake stock market training classes. Several bank accounts under the fraudsters’ control received these investments.

Details of bank accounts where fraudulent funds were moved were acquired over the course of the inquiry, and the call logs of a suspected mobile number were examined. A detailed examination was carried out on the bank accounts and cell phone numbers associated with each suspect. The connection linked to fraud was discovered via technical investigation and the earnest efforts of the team.

With great care and diligence, the team identified a bank account in Mundka, Delhi, under the name of Maha Laxmi Traders. One transfer of Rs. 1.25 lakhs was made on April 24th, and it was discovered that this account was connected to fraudulent activities.

After further investigation, the crew discovered a registered mobile phone, which brought them to Fang Chenjin. After evidence was found in his hands, including a cell phone and WhatsApp communication logs, Fang Chenjin, a Chinese citizen living in Delhi’s Safdarjung Enclave, was taken into custody. He was obviously in control of the fraudulent actions, including the recharging of the cellphone number used in the scheme, based on the WhatsApp exchanges he had with an acquaintance.

Crimes were committed via mobile phones. WhatsApp conversation exposed Fang Chenjin gave his colleague instructions to recharge the fraudulent cellphone number.

Investigations are still under progress.