The Avadi Cyber Crime Police arrested a 43-year-old man for allegedly procuring bank accounts from members of the public and selling them to cyber fraudsters linked to a Chinese scam network. The police said 67 complaints registered across India on the National Cyber Crime Reporting Portal (NCRP) have been linked to bank accounts allegedly sold by the accused.
The case came to light following a complaint from Yoganandh, 43, of Porur, who allegedly lost ₹1.73 crore after being lured into investing in cryptocurrency through a Chinese app called ‘Chin Chain’.
According to police, the accused had contacted Yoganandh through Facebook and promised returns three times the investment. Believing the claims, he transferred ₹1.73 crore in several instalments to multiple bank accounts provided by them. When neither the promised returns nor his principal amount was returned, he approached the Avadi Police Commissioner.
The Cyber Crime Wing registered a case and launched an investigation. The police found that ₹13.86 lakh of the amount transferred by Yoganandh had been credited to an IndusInd Bank account held in the name of Anbalagan of Coimbatore. The account was allegedly operated in the name of a fake company, VA Software Solutions.
