Coimbatore Police Arrest Five for ₹27.45 Lakh Cryptocurrency Fraud Targeting NRI
The cybercrime police in Coimbatore have arrested five individuals accused of defrauding a non-resident Indian (NRI) from the city of ₹27.45 lakh. The fraud was carried out under the pretext of facilitating online and cryptocurrency trading.
According to police, unknown suspects contacted the NRI, a resident of Vadavalli in Coimbatore, through social media. They lured him with promises of high returns if he invested in online and cryptocurrency trading. The victim subsequently transferred ₹27,45,800 to accounts controlled by the fraudsters.
The arrested individuals were identified as Vasanth (20) of Arivoli Nagar, Ajal (22) of Kovaipudur, Janagan (23) of Konganagiri in Tiruppur district, Bharath (26) of Palladam, and Udayakumar (38) of Mayiladuthurai.
During the investigation, police found that Bharath had misused identity documents of several people to obtain over 250 SIM cards used for the fraud. Udayakumar had opened multiple bank accounts with the help of others and shared the credentials with individuals abroad to facilitate the scam.
Authorities noted that at least 15 complaints are pending against the accused in nine states. The five men were lodged in Coimbatore Central Prison after their arrests and remand.
