CHENNAI: Sleuths from Central Crime Branch (CCB) on Friday arrested 3 suspects for cheating a city-based elderly man of Rs 1.43 crore via an ‘iridium scam’.

Scamsters usually lure investors by claiming that the metal has spiritual powers and would bring in exponential wealth. In this case, Chinnasamy (60) approached police claiming that his relative and friends duped him by convincing him that iridium was a rare metal found in the hills of Kodaikkanal, and asked him to invest in it claiming that foreign traders were ready to buy the metal.

So, he transferred Rs 1.43 crore online to the suspects, who absconded with the money. CCB registered a case and arrested R Kamalakannan (51) and T Prabhakaran (42) of Gopichettipalayam on August 5.

Based on their inputs, D Sudhakar (46) of New Perungalathur, their accomplice, was arrested on Wednesday. The trio have been remanded to judicial custody.