Delhi, India: A Chinese national, Fang Chenjin, has been arrested in connection with a ₹100 crore cyber fraud case involving online stock trading scams. The incident surfaced after Suresh Kolichiyil Achuthan, one of the victims, filed a complaint on the cybercrime portal, stating he was defrauded of ₹43.5 lakh.
Chenjin operated through fraudulent WhatsApp groups, luring victims into fake stock market training sessions before persuading them to invest large sums. Investigations traced the transactions to a bank account under the name "Maha Laxmi Traders" in Mundka, Delhi. Further evidence, including WhatsApp conversations and a mobile phone linked to the crime, led to Chenjin’s identification and arrest.

Police revealed that at least 17 complaints related to this scam have been registered, collectively accounting for the ₹100 crore fraud. Chenjin has also been linked to cybercrime and money laundering cases in Andhra Pradesh and Uttar Pradesh.
“The accused targeted individuals through fraudulent online stock trading schemes. Investigations are ongoing to uncover further connections,” said DCP Shahdara, Prashant Gautam.

Authorities are now working to trace the other accomplices and funds involved in the scam.