Delhi police arrests Chinese national in ₹100 crore online stock trading scam
In a major breakthrough, Delhi police have arrested a Chinese national named Fang Chenjin in connection with a major online stock trading scam that has forged over ₹100 crore by cheating individuals. The entire cyber fraud was being carried out through the WhatsApp groups of stock trading; the scam involved targeting unsuspecting investors using an advanced network of siphoning off funds. The arrest was made after a detailed probe by Shahdara Cyber Police Station traced a complex multi-state cybercrime operation.
The scam was reportedly first exposed through a complaint registered by Suresh Kolichiyil Achuthan in July 2024. He alleged that he had been induced into fraudulent stock trading sessions, resulting in investments amounting to ₹43.5 lakh via several transactions. These investments were routed through a number of bank accounts operated by the scammers, one of which was traced to have been connected to a bank account in the name of Maha Laxmi Traders in Mundka area, Delhi.
As the search continued, the authorities tracked the funds into several accounts and also analyzed the mobile phone data, which finally led them to Chenjin, who was living in Safdarjung Enclave, Delhi. The police gained crucial evidence from his mobile phone, including WhatsApp chat logs, which proved his role in managing the fraudulent operations. From the chats, it emerged that Chenjin coordinated with other fraudsters and even took care of mobile number recharge systems used for the scam.
Chenjin's arrest has also opened up new fraud cases in Andhra Pradesh and Uttar Pradesh. It is said to have affected several people in these regions, and the total loss over ₹100 crore has been estimated. At the same time, the case reflects an increasing cybercrime threat associated with cross-border networks of criminals who exploited digital platforms like WhatsApp to propagate their criminal activities.
This arrest marks a significant breakthrough in a broader investigation into money laundering and cybercrime activities, with the police continuing to piece together the full extent of the operation. Delhi’s cybercrime units are working in coordination with authorities in other states to identify and apprehend additional suspects involved in the racket.
This wave of online stock trading scams, particularly ones running through the channels of WhatsApp, calls for more attention to prevent such crimes in the virtual world. With this ongoing investigation, law enforcement authorities are advising citizens to continue being vigilant about unsolicited investment opportunities and report any suspicious activity on time.
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