CHENNAI: The city police have arrested an absconding accused in connection with a Rs 1.43 crore online trading scam in which eight persons, including a former manager of a private bank, have been arrested so far.
Karthik (36) of Perungudi, a businessman, approached the police after he lost Rs 1.43 crore to cyber scammers, who lured him via social media in March 2025. After adding Karthik to a WhatsApp group, the fraudsters in the group convinced him to download a trading application via a link, luring him with promises of high returns on his investments.
Trusting their claims, Karthik transferred a total of Rs 1.43 crore to various bank accounts on multiple dates. However, when he attempted to withdraw his funds, the accused gave various excuses and pressured him to invest more money, at which point he realized he had been cheated.
Based on his complaint, the Central Crime Branch (CCB) registered a case, and after a probe, the police arrested Surya Srinivas (50), owner of Surya Export-Import Company from Nungambakkam.
Further investigations led to the arrest of Seshadri Eshwara Raj (43), a former branch manager of a Kotak Mahindra bank in Ekkaduthangal.
Continuing on the investigations, the police arrested mule bank holders Dinesh (29) of Anakaputhur and Arun Pandiyan (33) of Vaniyambadi. Subsequently, four more persons were arrested.
Meanwhile, on Thursday, a special team arrested Mohammed Zainudeen (26) of Tondiarpet. Police said he was a cryptocurrency agent and took a commission for diverting funds to various bank accounts. He was produced before a magistrate and remanded in judicial custody.