25-04-2025
Three arrested for cheating stock trader of ₹50 lakh Coimbatore
The cybercrime police in Coimbatore have arrested three persons, including an assistant manager of a private bank, on the charge of duping a stock trader of ₹50 lakh.
M. Sivakumar, 27, of Iggalur village near Chandapura in Karnataka, M. Kumaresan, 29, of Hosur in Krishnagiri district and private bank employee S. Nithya, 32, of Onnalvadi near Hosur were arrested based on a complaint lodged by Joju Mathew, 51, of K.R.G. Nagar at Ganapathy in Coimbatore.
The police said Mr. Mathew was added to a WhatsApp group, namely 'No.999-PIN-Wealth Think Tank' by a person claiming to be Mansi Jaiswal, who introduced herself as a former employee of a global investment management firm, with experience in Wall Street.
Jaiswal and others posed as trading advisors and convinced the complainant to invest through a company, namely Pin Fund, claiming to have SEBI registration, said the police. Believing it to be genuine, the complainant transferred ₹50 lakh in multiple transactions. He realised that it was a scam when he could not withdraw the money.
The police said a total of 96 complaints had been received against the accused, who were believed to have defrauded a total of ₹90 lakh, including ₹50 lakh of Mr. Mathew.
The police seized a total of 129 items used by the accused for the fraud, including five mobile phones, nine SIM cards, 25 debit cards, 23 bank passbooks and 62 cheque books.
