The Central Crime Branch (CCB) has arrested three persons, including two women, for allegedly defrauding an elderly person of ₹3.4 crore under the pretext of online trading investment.
Police said the complainant, Sathyanathan, 68, a resident of Adyar, said that he was added to a WhatsApp group named “FYERS VIP” by persons who claimed to be officials of Fyers Securities in Bengaluru. By engaging in professional discussions related to trading and investments, the fraudsters gained his trust and instructed him to download a mobile application. The complainant downloaded the app and transferred a total sum of ₹3.40 crore from his bank account to 13 different bank accounts provided by the fraudsters between July 7 and 25.
When the complainant later requested the return of his money, the mobile application was completely disabled and became inaccessible. Realising that he had been cheated, he lodged a complaint on the National Cyber Crime Reporting Portal. Based on the complaint, a police team arrested the first accused, Balasubramanian, 51, of Thanjavur, on November 22.
Subsequently, the police arrested Murugesh, 49, Epsi, 35, and Panchavarnam, 33, on Thursday. One mobile phone used in the offence was seized from them.
Investigation revealed that through brokers, the main accused approached Epsi and Panchavarnam, seeking bank accounts to deposit money. They provided several bank accounts, for which a commission was given to them. Of the complainant’s money, ₹6,00,790 was transferred to Murugesh’s bank account. Murugesh withdrew the amount through cheque and handed it over to the broker, who in turn paid Murugesh a commission.
It was further found that about ₹45 lakh was routed through five bank accounts in a similar manner, with the money being withdrawn by the account holders themselves through cheques and commissions being paid to them, the police said.
Published – December 27, 2025 12:14 am IST
