The Central Crime Branch (Cyber Crime) arrested two more suspects, including the mastermind, in a nationwide online trading scam in which victims were cheated of over ₹100 crore.
The case began after Karthik, 36, of Perungudi, lost ₹1.43 crore to a fake online investment app promoted through social media. Following his complaint on September 16, the CCB formed a special team, and arrested Surya Srinivas, Dinesh, Arun Pandian and former bank manager Seshadri Ethiraj.
Further investigation led them to the mastermind, Sreenath Reddy, 49, who was arrested at a guest house in Mugaliwakkam. His associate, Anita, 40, from Tiruvallur district, was also arrested.
The police said Sreenath Reddy had created five fake shell companies across Chennai and opened over 30 bank accounts, which he handed over to international cybercriminals. Using these accounts, over ₹100 crore was siphoned off from victims across India, from which Reddy received several crores as commission.
He also appointed agents across States to procure bank account details for cybercriminals.
