Chinese national held in ₹100 crore cyber fraud case
New Delhi: The Delhi Police has arrested a Chinese national in connection with a massive nationwide cyber fraud case involving fraudulent online stock trading scams of Rs 100 crore.
The accused has been identified as Fang Chenjin son of Fang Nong Sheng resident of Krishna Nagar, Safdarjung Enclave, Delhi.
According to the police, the arrest followed an investigation initiated after a complaint by Suresh Kolichiyil Achuthan, who was tricked into investing Rs. 43.5 lakh in bogus stock market schemes.
The fraudsters operated via WhatsApp groups, luring victims with fake stock trading sessions. The money was directed to multiple bank accounts controlled by the network.
A specialised team, led by Inspector Rajeev under the guidance of SHO Cyber, Inspector Manish Kumar, and ACP Ops Gurdev Singh, employed technical surveillance and manual investigation.
The team traced transactions to a Fincare Bank account linked to Maha Laxmi Traders in Mundka, Delhi, where fraudulent activities were uncovered. The investigation culminated in the arrest of Fang Chenjin originally from Gaungdong, China.
Evidence recovered included a mobile phone, used to facilitate the crimes, and WhatsApp chats connecting Chenjin to fraudulent activities. These chats revealed his role in directing the scams and coordinating with associates.
Further inquiries uncovered Chenjin’s involvement in two prior cyber fraud cases in Andhra Pradesh and Uttar Pradesh.
The accused was linked to a criminal network responsible for defrauding over Rs.100 crore across India, with at least 17 similar complaints registered on the Cyber Crime Portal. His passport and visa, issued for work in India for a Taiwanese company in Andhra Pradesh in 2020, were seized during a previous arrest, rendering his stay in India unlawful.
Police have also linked him to a larger fraud network involving multiple victims and transactions exceeding Rs. 100 crore. Investigations into his associates and additional bank accounts are ongoing.
