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CHENNAI: The West Zone Cyber Crime Police have arrested a 39-year-old woman for allegedly cheating a 40-year-old woman of Rs 23 lakh by promising high returns on investments in a company.
The arrested woman was identified as Pooja Jain of Mint Street, Park Town. Police seized two mobile phones and a laptop allegedly used in the crime.
According to the police, the complainant, Hema Priyadarshini, was introduced to Jain through her relative Saravanan in 2024. Jain allegedly told her that investments in IBL Bond would fetch monthly returns of 30 per cent.
Trusting her assurances, Priyadarshini gave Jain a cheque for Rs 15 lakh from her HDFC Bank account in the name of IBL & Co. After receiving interest payments for a few months, she was allegedly persuaded to invest another Rs 8 lakh through a cheque on March 28, 2025.
When the interest payments stopped, Jain allegedly told her that the company had incurred losses. The complainant later suspected that the name of India Bond Limited had been misused to dupe investors. A case was registered at the West Zone Cyber Crime Police Station on August 22, 2026.
During investigation, police found that Jain had worked as a relationship manager in private banks since 2019. She allegedly obtained customer details while dealing with banking and loan-related matters and later created a website under the domain name ‘INDIABONDSLIMITED’.
Police said she allegedly lured customers with promises of 25 to 30 per cent returns, created current accounts using the name IBL & Co, deposited victims’ cheques and transferred the money to her personal savings accounts. She also allegedly created fake investment bonds using her laptop.
Police said cases related to cheating had previously been registered against Jain at Nungambakkam and Kolathur police stations and the Chennai Central Crime Branch.
Jain was produced before a court and remanded in judicial custody. Police are continuing efforts to trace other suspects allegedly involved in the case.