Avadi Cyber Crime Police have arrested two men accused of supplying shell company bank accounts to an online trading fraud network after a 35-year-old Vallur resident allegedly lost ₹85.5 lakh through a fake investment platform promoted on WhatsApp.
Fake Trading Platform Displayed Attractive Profits
According to the complaint, the victim was added to a WhatsApp group named “20 TrendSet Bulls,” where members shared stock market tips and promoted trading opportunities promising lucrative returns.
The group’s operators allegedly persuaded him to invest through a website called “The Language of Candles,” which was presented as a legitimate online trading platform.
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The victim transferred ₹85.5 lakh to several bank accounts provided by the operators. The platform initially displayed profits and a growing investment balance, encouraging him to continue depositing money.
He approached police after being unable to withdraw the funds and reportedly losing contact with those operating the platform.
Shell Company Account Received Victim’s Funds
Investigators examining banking records and digital transaction trails found that ₹10 lakh from the complainant had been credited to an account held in the name of Glomart Agro and Garments Pvt. Ltd.
Police identified the company’s owner and account operator as Udhayan, 37. Another accused, Prabhakaran, 39, allegedly arranged the account for the cyber fraud network in exchange for commission.
Both men were arrested by a special team and produced before a court, which remanded them to judicial custody. Police seized two mobile phones and sent them for forensic examination.
Investigators found transactions exceeding ₹57 lakh in the account linked to the accused. It was also connected to two previously registered cybercrime cases.
Additional Account Linked to Five Complaints
Police alleged that the accused also supplied another bank account operated under the name “Nanam Tex” to cybercriminals for commission.
That account was reportedly linked to five complaints filed through the National Cyber Crime Reporting Portal, raising suspicion that the accused were part of a wider system supplying accounts for moving fraud proceeds.
Investigators believe such accounts were used as intermediary or mule accounts to receive and transfer money while obscuring the identities of the principal beneficiaries.
Police are analysing the seized devices to recover communications, identify additional suspects and trace those responsible for operating the fraudulent trading platform. The investigation remains underway.
