How A Chinese National Targeted Indian Investors In ₹100 Crore Scam

Delhi Police has arrested a Chinese national, Fang Chenjin, for his alleged role in a cyber fraud syndicate worth over ₹100 crore. The massive scam involved individuals through false stock trading schemes run through WhatsApp groups, in which the unsuspecting victims were promised high returns.

The case came to light after an individual lost ₹43.5 lakh in what appeared to be stock market training sessions. Victims were persuaded to make multiple transactions, which were later traced to the bank accounts controlled by fraudsters.

Investigations uncovered that the bank frauds carried out by Chenjin were registered at least 17 complaints on the Cyber Crime Portal, which were all being operated from one Fincare Bank account. Other probes threw up his involvement in two more major cybercrime and money laundering cases in Andhra Pradesh and Uttar Pradesh.

Investigative Breakthrough

Delhi police thoroughly investigated the bank accounts, mobile records, and call data to trace the flow of defrauded money. Their efforts led them to a bank account in the name of Maha Laxmi Traders located in Mundka, Delhi, that was directly linked to suspicious transactions.

Further evidence involved a mobile phone registered in Chenjin’s name, which it is said was used to orchestrate the cheating.
When Chenjin was apprehended from his Delhi Safdarjung Enclave residence, he was discovered with his mobile device, which had WhatsApp chat records bearing evidence against him.

Criminal Network Caught

WhatsApp conversations showed that Chenjin was highly involved in managing the syndicate and recharging mobile numbers used for the scam activities. His arrest is considered one of the major breakthroughs aimed at curbing the fraud schemes as it has been reported to affect a large number of victims countrywide.

Investigations Underway

Police believe the fraud syndicate may have a wider connection and are continuing their probe to pin down other members in the operation. The authorities have urged people to remain vigilant on promises of much returns online.

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