CHENNAI: The Avadi police arrested a private bank manager and an accomplice for facilitating online trading fraud after a Tiruverkadu man lost Rs 59 lakh.

Following messages on WhatsApp earlier this year, victim S Karthikeyan had transferred money to bank accounts claiming to facilitate trading.

He realised he was being cheated as he did not receive any returns even after several months. He filed a complaint with the Avadi Commissioner's Office Cyber Crime Wing, and a case was registered. 

Cyber crime officials uncovered that two individuals, Ezhiri Vijayakarthick (26) of Tiruvallur, and Monishraj (26), a Kotak Mahindra Bank manager from Tiruvannamalai, had been procuring bank accounts from the public for a commission and providing them to fraudsters involved in money laundering.

The duo was arrested and police seized two mobile phones used in the cheating operation. Both were later remanded in judicial custody.