Erode man held for Rs 1.2 crore online stock trading scam
CHENNAI: The cyber crime wing of the Central Crime Branch (CCB) has arrested the man who duped a Chennai resident of Rs 1.23 crore in an online stock market investment scam.
The victim, Mahendran, a resident of Villivakkam, had received a WhatsApp message from an unknown person who promised high returns on stock market investments. Believing it to be true, he downloaded a fake online trading mobile application and invested Rs 1 lakh, said a police officer. Initially, he saw profits generated on the app. The accused, citing new rules, asked the victim to deposit more money.
