Over 100 Cheated In Online Forex Investment Scam In Chennai, 2 Arrested

Chennai Cyber Crime Cell Police busted a big online scam on Wednesday, in which more than 100 people were duped who invested their money via websites run by scammers posing as foreign exchange traders. Two men were arrested in connection with the case who have been identified as Syed Abu Thahir and Syed Ali Hussain.

M. Ashok Kumar, an electrician in Thiruverkadu, filed a complaint with the office of the Commissioner of Police on January 21, alleging that two unknown persons contacted him over the phone on an international call and identified themselves as Directors of Deltin International Solutions.

“They approached people claiming to be the directors of a forex firm and targeted those who were already involved in the share market. The duo asked them to invest in the forex market through their website,” said inspector Vinothkumar.

They enticed Ashok Kumar to invest in Deltin International Foreign Exchange so that he could benefit handsomely. Between October 17, 2019 and January 3, 2020, the complainant Ashok Kumar transferred a total of Rs 10.54 lakh to the website’s account by trusting callers claiming to be directors of the foreign exchange company. Later, Ashok Kumar realised he had been duped by the duo and reported them to the authorities. The Cyber Crime Cell registered an FIR and begun the investigation.

Syed Abu Thahir and Syed Ali Hussain, who confessed to developing the fake websites, were singled out by cops (www.deltinfx.com and www.deltininternationalsolutions.com).

They contacted victims via voice over internet protocol (VoIP) calls and made false promises of high returns. The two were apprehended and remanded in custody. They were also arrested and police confiscated Rs 1.95 lakh and five cell phones from them.

According to police reports, the con artists have been working out of Chennai for more than a year and a half. Taking advantage of the situation during the lockdown, they enticed many people to invest in their companies under the guise of receiving high returns. Hundreds of victims have been defrauded by the organisation across India, according to investigations.

The Chennai Cyber Crime Cell Police has advised the general public to exercise caution while trading forex.

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