Chennai, Jun 29 (PTI) A city resident was duped of over Rs 2 crore in an online investment scam, and four men were arrested in this connection, police said on Sunday.
Lured by high profits, the resident clicked online links for making investments in IPO/share trading and deposited Rs 2.26 crore in multiple transactions. The resident made the investment after he joined some WhatsApp groups and, following receipt of a WhatsApp message that assured very high returns, a city police release said.
Special teams were formed, and a probe led to the identification of fraudsters from Tirunelveli and Tenkasi. Sixty-year-old Sathyanarayanan and three others, Manivel, Roshan, and Simson Chelladurai, aged between 25 and 35, were held and mobile phones and Rs 4.38 lakh in cash were recovered. They were produced before a court, which remanded them to judicial custody.
Police warned the public to be cautious and said the victims are being targeted through advertisements on social media platforms.