Delhi Police Nabs Chinese National Linked To Rs 100 Cr Trading Scam

The Shahdara Cyber Police Station in Delhi has arrested a Chinese national, Fang Chenjin, in connection with a massive cyber fraud case involving the cheating of ₹43.5 lakh, according to DCP Shahdara, Prashant Gautam.

The arrest marks a significant breakthrough in a scam done through online stock trading schemes targeting unsuspecting individuals via WhatsApp groups.

DCP Gautam revealed that Fang Chenjin is linked to two other high-profile cases of cybercrime and money laundering in Andhra Pradesh and Uttar Pradesh. Additionally, 17 criminal complaints registered on the Cyber Crime Portal point to the same Fincare Bank account, with total fraud exceeding Rs 100 crore.

The case began with a complaint filed by Suresh Kolichiyil Achuthan on July 24. Achuthan reported being duped through fraudulent stock market training sessions, where he was persuaded to invest Rs 43.5 lakh in multiple transactions. These funds were transferred to various bank accounts controlled by the fraudsters.

During the investigation, police traced the defrauded money to an account held by Maha Laxmi Traders in Mundka, Delhi. The account was linked to fraudulent transactions, including a Rs 1.25 lakh transfer made on April 24. Further technical analysis of mobile numbers and bank details connected to the suspects led the police to Fang Chenjin.  

Chenjin, a resident of Safdarjung Enclave, Delhi, was arrested after police recovered a mobile phone and WhatsApp chat logs from his possession. The recovered chats revealed his involvement in directing the fraudulent activities and coordinating with associates to recharge a mobile number used in the scam.

"The technical analysis and diligent efforts by the investigative team uncovered crucial links to the fraud," said DCP Gautam. Evidence suggests Chenjin played a key role in the operation.

Further investigations are underway to uncover the extent of the network and its links to other cybercrimes.