New Delhi: The Shahdara Cyber Police Station on Tuesday arrested a Chinese national identified as Fang Chenjin in connection with a major cyber fraud case involving the cheating of over Rs. 43.5 lakhs.

Prashant Gautam, DCP Shahdara said, “The fraud was carried out through online stock trading scams orchestrated via WhatsApp groups, targeting individuals. Further investigation revealed that Fang Chenjin is linked to two other significant fraud cases involving cybercrime and money laundering in Andhra Pradesh and Uttar Pradesh.”

The senior official further added that there are also 17 criminal complaints registered with the Cyber Crime Portal, linked to this same Fincare Bank account with the total amount defrauded for over Rs. 100 crores.

The complaint was lodged by Suresh Kolichiyil Achuthan in July at the  Cyber Crime Portal wherein he reported that he was lured into fraudulent stock market training sessions and subsequently tricked into investing Rs. 43.5 lakhs in several transactions.

As per reports, these investments were directed to multiple bank accounts controlled by the fraudsters.

During the investigation, the police traced the details of bank accounts in which the amount had been transferred and the details of the suspect mobile number and calls wee also analysed.

After a thorough investigation, all data was connected to all the suspect persons. Technical analysis and sincere efforts of the team led to the link connected to fraud.

As per the officials, the traced funds were transferred to a bank account in the name of Maha Laxmi Traders located in Mundka, Delhi. The account was found to be linked to fraudulent transactions, with one transfer of Rs. 1.25 lakhs being made on April 24.

The team further inquired about the mobile phone register which led the team to Fang Chenjin, who was residing at Safdarjung Enclave, Delhi. He was arrested after evidence, including a mobile phone and WhatsApp chat logs, were recovered from his possession.

The WhatsApp conversations traced by the officials between him and an associate showed that he was the mastermind of the fraudulent activities, including the recharge of the mobile number used in the scam.

A further investigation is underway.

(With inputs from ANI)