Cyber Heist in Shahdara: How a Chinese National Orchestrated a Rs 100 Crore Scam

A Chinese national, Fang Chenjin, was arrested in Delhi for allegedly masterminding a Rs 100 crore cyber fraud. The scam, which involved fraudulent stock trading via social media, tricked victims into investing, leading to multiple accounts linked to illegal transactions. Fang was previously involved in similar cases in India.

Delhi Police have arrested a Chinese national, Fang Chenjin, for his involvement in a major cyber fraud case, with connections to a scam worth over Rs 100 crore. The arrest has exposed an extensive online stock trading scam conducted through social media platforms, officials revealed on Tuesday.

The Deputy Commissioner of Police in Shahdara, Prashant Gautam, disclosed that a complaint had been lodged in July, following an incident where an unsuspecting victim was duped into investing Rs 43.5 lakh through supposed stock market training sessions. These fraudulent investments were traced to various bank accounts controlled by the perpetrators.

Upon further investigation, the police linked the funds to a bank account under Maha Laxmi Traders in Mundka, Delhi, and identified a mobile number registered to Fang, which confirmed his significant involvement. This development ties Fang to other major fraud cases in Andhra Pradesh and Uttar Pradesh, intensifying the ongoing probe into cybercrime and financial deceit.

(With inputs from agencies.)