Iridium Scam: Chennai Man Held at Airport for Forging RBI, DRDO Documents

The Crime Branch-Criminal Investigation Department (CB-CID) of Tamil Nadu Police has arrested a key accused in the multi-crore iridium investment scam. The accused, identified as Suresh Kumar, son of Ganeshraja, was intercepted at Chennai International Airport on July 31 after arriving from Bahrain. He was remanded in judicial custody on August 1, and his mobile phone has been sent for forensic analysis.

According to the CB-CID, the fraudsters allegedly approached victims with a false promise that several thousand crore rupees had been received from the Central Government through the Reserve Bank of India (RBI) as proceeds from the sale of iridium copper. The victims were then induced to pay money as service charges and commissions to RBI officials to facilitate the release of the purported funds.

To build trust, the gang allegedly displayed forged documents bearing the names and emblems of the RBI, the Defence Research and Development Organisation (DRDO), the Bhabha Atomic Research Centre (BARC), and the Income Tax Department. They also allegedly produced fake metal and stones, claiming these to be iridium, a rare and valuable element.

The case was registered by the Salem Organised Crime Unit (OCU) of the CB-CID on March 15, 2025, based on a complaint from an Assistant General Manager of the RBI. So far, the investigation has established that at least 50 victims were allegedly defrauded in the scam. Nineteen accused persons have been arrested and remanded in judicial custody. CB-CID teams have seized several electronic devices, including laptops, mobile phones, and printers, along with forged RBI and DRDO documents, fake bank cheques, and suspected fake metal and stones.

The recent arrest of Suresh Kumar came after the CB-CID issued a Look Out Circular (LOC) against him on August 7, 2025. Following continuous surveillance, he was intercepted upon his arrival from Bahrain. Police said Kumar allegedly prepared forged United Overseas Bank (UOB) and RBI documents showing fictitious transfers of huge sums of money. He reportedly received ₹45,000 for preparing these fabricated documents. Though a native of Chennai, he was operating from Bahrain.

As of now, the CB-CID has registered 47 cases relating to iridium scams across the State, and investigations are under way. The police have urged the public to be cautious of schemes promising unrealistic returns through government connections, and to verify any such claims with authorised financial institutions.