The arrested man was identified as Gopalakrishnan of Madipakkam. According to sources, the Puducherry police had received nearly 10 complaints of phishing from victims who lost their money to the cyber fraud.
During the probe, the cybercrime investigators found that the mastermind of the gang, which was accused of cheating the victims and siphoning money from their bank accounts using various fraudulent methods, including phishing, was from Chennai.
After confirming that the main suspect was from Madipakkam, a southern suburb of Chennai, the investigators from the cybercrime unit team nabbed Gopalakrishnan on charges of phishing on Wednesday.
The police team also seized golden jewellery worth about Rs 3 lakh from him. Police believe that the gold was purchased by the suspect with the money he raised by cheating his victims.
Gopalakrishnan used to call his victims on the pretext of getting them loans and make them buy insurance policies. The victims transferred the money to his account but they never managed to obtain the loan, sources said.
Gopalakrishnan was booked by the CB-CID team under the IPC sections 420 (cheating) along with section 66-D of Information Technology Act, 2000 (Punishment for cheating by personation by using computer resource by means for any communication device or computer resource) read with IPC 34. Police have also launched a search for his accomplices.