These days it is common to come across various types of financial fraud happening in the country. But have you ever thought of a scam where a person with a different nationality not belonging to your country could make you fall into his trap?
Yes, you heard that right.
People are always warned to stay cautious of individuals promising high returns and trading tips but what about people with different nationality? Are we supposed to trust them and fall prey to them?
“Atithi Devo Bhava”, is what we Indians believe and hence following the footprints of the same we leave behind all the warnings and easily trust in any fraudulent activity shared by foreigners.
Isn’t this ironic?
Well, a similar incident recently happened in India where a Chinese national, Fang Chenjin was arrested in Delhi for an alleged scam worth ₹100 crores.
Key Highlights of the Case
- A Chinese national was arrested by Delhi police for his massive involvement in a cyber fraud of ₹100 crores
- Accused Chenjin operated online stock trading scams and targeted victims via WhatsApp groups
How Was the Scammer Identified?
The scam was uncovered when one of the victims, Suresh Kolichiyii Achuthan filed a complaint against Fang Chenjin on 24th July, 2024. He claimed that Fang tricked him into investing ₹43.5 lakhs in fraudulent stock market training sessions.
For investigation, police analyzed bank accounts, mobile numbers, and call details provided by the victim to track the details of the fraud. The details provided were linked to a bank account in the name of Maha Laxmi Traders in Mundka, Delhi.
Further inquiry revealed that the mobile phone linked to this account was registered in Chenjin’s name. This helped police track Chenjin’s location and he was finally arrested from Delhi’s Safdarjung Enclave.
While investigating further police gathered evidence and found that the accused was linked with a scam worth ₹100 crores in different states across the country.
What Revelations Were Made by the Police?
As per the findings, Police revealed that:
- Chenjin used WhatsApp as a medium to connect with his targets.
- He eventually tricked victims into investing in multiple transactions.
- 17 criminal complaints were already filed with the Cyber Crime Portal against Chenjin’s fraud.
- All the filled complaints were connected to the same Fincare Bank account.
How to Report Such Cases?
Now here it is more important for anyone to do a proper validation and verification before making any payments or investing in any scheme. However, even after that if you get tricked by some of the smart players with evil objectives it is important to take a quick action.
To make your statement and case stronger, keep track of all the evidence, and file a complaint with the local authorities. You can also file a complaint in Cyber Crime.
Last but not least, stay vigilant and never fall for any stock market trading schemes assuring high profits in less time.
If you are affected by a similar scam and need any help in reporting the case, fill out the form below and our team will soon reach out for your help.
