A former bank relationship manager has been arrested by the Cyber Crime Police in Chennai for cheating a woman of ₹23 lakh by promising monthly returns of 25 to 30% on investments in purported IBL Bonds.
Police identified the accused as Pooja Jain. Investigators alleged that she collected ₹15 lakh from Hema Priyadarshini, 40, in 2024 and another ₹8 lakh in 2025. A laptop and two mobile phones allegedly used in the offence have been seized.
High Returns Promised on IBL Bonds
According to police, Jain approached Priyadarshini with an investment proposal involving IBL Bonds and assured her of monthly returns ranging from 25 to 30 per cent. Priyadarshini subsequently invested ₹15 lakh in 2024 and another ₹8 lakh the following year.
After a few months, Priyadarshini stopped receiving interest payments. She was allegedly informed that the company had suffered losses.
Priyadarshini approached the authorities, and a case was registered on August 22, 2026, based on her complaint. The subsequent investigation led police to Jain.
Proposal for Conducting Cyber Crisis Drill, Tabletop Exercise (TTEx) & CCMP Readiness Exercise
Website and Fake Bonds Allegedly Created
During the investigation, police found that Jain had been working as a relationship manager in private banks since 2019 and had allegedly obtained details of customers.
Investigators said she later contacted a web developer through Justdial and created a domain named INDIABONDSLIMITED to make the investment scheme appear genuine.
Police further alleged that Jain opened current accounts with banks in the name of a fictitious firm, IBL & Co. Cheques received from investors were deposited into these accounts, after which the money was allegedly transferred to her personal savings accounts.
The investigation also found that a laptop was allegedly used to create fake investment bonds, which were then sent to investors through email. Police seized a laptop and two mobile phones allegedly connected to the offence.
Police Probe Reveals Earlier Fraud Cases
The West Zone Cyber Crime Police arrested Jain in connection with the ₹23 lakh complaint after examining the alleged investment transactions and the mechanism used to present the scheme to investors.
Investigators are examining allegations that the investment operation was made to appear legitimate through the INDIABONDSLIMITED domain, the purported IBL Bonds and bank accounts opened in the name of IBL & Co. The inquiry also revealed that Jain had previous fraud cases registered against her, according to police.
The case centres on allegations that investors were induced to part with money on the promise of unusually high monthly returns and were provided fake investment bonds through email. Police have alleged that funds received from investors were routed through accounts linked to the fictitious firm before being transferred to Jain’s personal savings accounts.
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