CHENNAI– A team of cybercriminals from Uttar Pradesh, accused of cheating Chennai residents out of ₹48 lakh using a fake trading app, were brought to the city for questioning. The Four men were Mohan Singh (33), Sanyam Jain (26), Harshavardhan Gupta (28), and Armaan (30). The group, already imprisoned for unrelated cybercrime charges, is now facing new accusations of cheating Chennai residents through a sophisticated fake investment operation. The Chennai Police’s Cyber Crime Wing had secured a prisoner on warrant order from a local magistrate, allowing them to transport the accused for questioning. Initial complaints by four city residents, each losing about ₹12 lakh, triggered the investigation.
The Modus Operandi: A Digital Mirage Called ‘Chinese Dragon’
According to investigators, the accused used a fake mobile application dubbed “Chinese Dragon” that mimicked legitimate stock trading platforms. The app promised high returns, targeting victims via popular messaging apps like WhatsApp and Telegram. Once users installed the app and deposited money, they were shown manipulated dashboards that falsely indicated profits. The moment they tried to withdraw funds, communication would cease, and the app would become inaccessible. The accused used 153 mule bank accounts, linked to fake mobile numbers, to circulate the stolen money. These funds were routed through multiple stages—converted to cryptocurrency, converted back to rupees—to make tracing difficult.
International Links and A Mastermind on the Run
Police believe the fraud was not limited to Indian borders. The technical backend of the app and the financial trail hint at foreign involvement, possibly from China. The operation’s mastermind, a 28-year-old man named Rohan, is currently under custody in Telangana in connection with another digital fraud case. While his exact role in the Chennai fraud is still under investigation, early evidence suggests he controlled the remote servers used to manage the fake app and the victims’ investments.
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Rising Tide of Digital Investment Frauds in Tamil Nadu
There is a growing tally of cyber scams in Tamil Nadu, particularly investment frauds using social media and cryptocurrency as bait. In recent months, similar cases have surfaced where fraudsters duped individuals through Instagram trading groups, Telegram bots, and even “digital arrest” scams posing as law enforcement officials. Officials urge the public to verify investment platforms via SEBI registration, avoid unsolicited messages promising quick returns, and immediately report suspicious activities on the National Cybercrime Portal.
