Duo runs fake forex websites, cheats 700 people of Rs 12 crore, arrested

The cyber crime police of the central crime branch (CCB) arrested two men for cheating running two fake websites on the promise of multiplying investment in the foreign exchange market.
Syed Abu and Ayed Ali
Syed Abu and Ayed Ali

Chennai

The accused, Syed Abu Thahir (34) of Teynampet and Syed Ali Hussain (40) of Chidambaram, were college mates. They started deltinfx.com and deltininternationalsolutions.com in 2019, the police said. 
“They approached people claiming to be the directors of a forex firm and targeted those who have already indulged in the share market after obtaining their database. The duo asked them to invest in the forex market through their website. They made them deposit money on their website after opening an account and showed a few numbers as if the victims’ money is invested in the market and the daily status of their investment,” said inspector Vinothkumar. 
The duo was arrested based on a complaint by one M Ashok Kumar of Tiruverkadu, who lost about Rs 10.5 lakh to them. Investigation revealed that the duo had cheated more than 700 people from across the country to the tune of Rs 12 crore in the last two years. The accused were remanded in judicial custody on Monday. 
“We have the list of the victims and have been contacting them to receive complaints. On Tuesday, five more victims, including one from Bhopal, reached the city police commissionerate to lodge complaints. We would take the accused into our custody again to ascertain if more persons are involved in the scam,” said the inspector. 

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

Related Stories

No stories found.
DT next
www.dtnext.in