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Chennai Cybercrime Police have arrested two men from Rajasthan and West Bengal in separate online fraud cases involving a fake investment opportunity and a premium credit card offer. The incidents resulted in financial losses of ₹12.99 lakh and ₹17.60 lakh for two Chennai residents.
How Did the Investment Fraud Begin?
The first case involved Jaganathan Balaji, a 54-year-old businessman from Triplicane, Chennai, who was exploring business opportunities involving electric vehicle charging stations.
On May 28, 2026, Balaji came across an online advertisement and contacted a business firm using his mobile phone.
According to police, the individuals who responded claimed to represent a Japanese company. They persuaded him to register on a trading website, promising substantial financial returns.
The accused also offered online training to help him understand the trading process. Believing the representations, Balaji began investing through the platform. He subsequently discovered that he had allegedly been cheated of ₹12.99 lakh.
How Was the Rajasthan Suspect Arrested?
Following the financial loss, Balaji approached the Cybercrime Police, East Zone, and lodged a complaint seeking action against those responsible.
A special police team examined the bank account details and mobile phone numbers associated with the transactions. During the investigation, officers traced one of the suspects to Rajasthan. With assistance from Ramgarh Pachwara Police Station personnel, the team arrested Rajendra Kumar Meena, 35, from Hemliwala in Rajasthan’s Dausa district.
Police seized two mobile phones, including an iPhone, from the accused. He was subsequently brought to Chennai, produced before a court and remanded to judicial custody.
How Did the Credit Card Scam Work?
In a separate case, a 34-year-old Chennai resident, Keerthivasan, from Nungambakkam, allegedly lost ₹17,60,440 after being approached with a fraudulent premium credit card offer.
On April 23, an unidentified caller contacted him and claimed that his credit score qualified him for a premium credit card with attractive benefits.
The caller subsequently sent a link through WhatsApp and instructed Keerthivasan to enter his bank account information and other personal details. Believing the offer was genuine, Keerthivasan submitted the requested information.
How Was the Victim’s Money Taken?
On April 24, the fraudster sent Keerthivasan a mobile phone and instructed him to insert his SIM card into the device, describing the process as a necessary two-step verification procedure.
Shortly after he inserted the SIM card into the new phone, ₹10 lakh was transferred from his bank account. Another ₹7,60,440 was fraudulently debited through online transactions using his credit card. The combined unauthorised transactions resulted in a financial loss of ₹17,60,440.
Keerthivasan subsequently reported the incident through the National Cyber Crime Reporting Portal and approached the Cybercrime Police, East Zone, seeking action and recovery of his money.
Who Was Arrested in West Bengal?
Investigators examined the bank accounts and mobile numbers linked to the fraudulent transactions and traced one suspect to West Bengal.
A police team travelled to the state and, with assistance from local authorities, arrested Abul Hussain Sheikh, 26, from Nawda in Murshidabad district, on November 6.
The accused was brought to Chennai for further investigation.
Following interrogation, Sheikh was produced before the Saidapet Metropolitan Magistrate Court on November 8 and remanded to judicial custody.
What Do These Cases Reveal?
The two incidents involved different methods of deception. In the first, fraudsters allegedly used an online business opportunity and promises of trading profits to attract a businessman.
In the second, the accused used a premium credit card offer, a WhatsApp link and a mobile phone presented as part of a verification procedure to obtain sensitive financial information.
Both cases demonstrate how fraudulent offers presented through familiar digital channels can lead to substantial financial losses.
The arrests followed investigations involving banking records, mobile phone numbers and coordination between police teams across different states.
