Chinese man, allegedly linked to ₹100 Crore fraud syndicate, arrested in Delhi

Delhi police arrest Chinese national Fang Chenjin for ₹100 crore cyber fraud, targeting individuals through WhatsApp stock trading scams.

Updated on: Nov 19, 2024, 12:19:24 IST

By HT News Desk

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The Delhi police has arrested a Chinese national, Fang Chenjin, for his involvement in a massive cyber fraud case totaling over ₹100 crore. According to DCP Shahdara, Prashant Gautam, Chenjin orchestrated online stock trading scams via WhatsApp groups, targeting individuals.

Fang Chenjin, a Chinese national, was arrested from Delhi's Safdarjung Enclave.

The arrest follows a complaint lodged by Suresh Kolichiyil Achuthan, who was tricked into investing ₹43.5 lakh in fraudulent stock market training sessions that turned out to be scams.

The Scam

The fraudsters lured victims into fraudulent stock market training sessions, eventually tricking them into investing in multiple transactions. One such victim, Suresh Kolichiyil Achuthan, reported being cheated out of ₹43.5 lakhs on July 24. These investments were directed to multiple bank accounts controlled by the fraudsters.

The investigation revealed that Chenjin's scam was linked to 17 criminal complaints registered with the Cyber Crime Portal, all tied to the same Fincare Bank account.

"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," said Prashant Gautam, DCP Shahdara.

The Investigation

The police analysed bank accounts, mobile numbers, and call details to track the cheated amount. Their thorough investigation led to a bank account in the name of Maha Laxmi Traders in Mundka, Delhi, which was found to be linked to fraudulent transactions. Further inquiry revealed a mobile phone registered in Chenjin's name, which was used to direct the fraudulent activities.

Fang Chenjin, a Chinese national residing in Delhi's Safdarjung Enclave was arrested after evidence, including a mobile phone and WhatsApp chat logs were recovered from his possession. The WhatsApp conversations between him and an associate clearly showed that he was directing the fraudulent activities, including the recharge of the mobile number used in the scam.

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HT News Desk
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