Chinese national arrested as Delhi Police bust Rs 100 crore cyber fraud syndicate | Crime News

Delhi cyber fraud news: The cyber crime wing of the Delhi Police in Shahdara busted an online fraud network that duped people thorugh fake online stock trading schemes by promising lucrative returns. The kingpin of the racket, a Chinese national, has been arrested.

The accused – Fang Chenjin is accused of defrauding people worht Rs 100 crore through online stock trading sessions

New Delhi: In a major breakthrough, the Cyber Police in Delhi’s Shahdara have arrested a Chinese national named Fang Chenjin for allegedly running an online fraud syndicate that duped people to the tune of Rs 100 crore through stock trading scams.

The arrest comes in connection with the investigation into a case in which a man was defrauded of Rs 43 lakh through online stock trading schemes orchestrated via WhatsApp groups.

The investigation began with a complaint filed on July 24 by Suresh Kolichiyil Achuthan, who claimed being lured into fake stock market training sessions but tricked into making substantial investments. The funds were directed to multiple fraudulent bank accounts.

How police nabbed cyber fraud kingpin

Detailed technical analysis and surveillance enabled the police to trace the funds to a bank account in the name of Maha Laxmi Traders in Mundka, Delhi, linked to a series of suspicious transactions. Further probe led to the arrest of Fang Chenjin, residing in Safdarjung Enclave, Delhi.

Evidence recovered from Chenjin included a mobile phone with WhatsApp chat logs detailing instructions he gave to his associates to facilitate the fraudulent activities.

Police investigations have also revealed that Fang Chenjin is connected to two other cyber fraud and money laundering cases in Andhra Pradesh and Uttar Pradesh. Additionally, 17 similar complaints have been registered on Delhi Police’s cybercrime Portal, all connected to the same Fincare Bank account linked to the Rs 100 crore fraud network.

Further investigation is underway to uncover more details about the criminal network and other accused involved in it.

Ashish Verma is a digital media journalist with a career spanning over a decade in the industry. He writes on all things breaking, politics, crime and global affairs while striving to eye the details to put out informative and factually correct copies.
When not in the newsroom, Ashish spends his time watching Marvel movies, cooking, checking out sneakers, and catching up on what Elon Musk is up to.

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