The Cyber Crime Wing of the Greater Chennai Police has arrested a 34-year-old man in connection with an alleged ₹5.8-crore investment fraud in which a businessman was lured into investing in fake forex and stock trading platforms with the promise of high returns.

The police said the case was registered based on a complaint by R.A. Khaleel Ahmed, 43, of Anna Nagar West Extension, who alleged that he was introduced to forex trading by Mahesh of Madurai and C. Saravanakumar of Madathukulam.

He was persuaded to invest through a firm named FX Global Prime, following which he was induced to make repeated investments on various pretexts, resulting in a loss of about ₹5.8 crore.

Investigation revealed that the accused had been operating the complainant’s demat and trading accounts for several years and gradually diverted his investments to multiple fictitious trading platforms.

The platforms allegedly displayed fictitious profits of nearly ₹66 crore. Whenever the complainant attempted to withdraw the money, he was asked to pay additional amounts towards transfer charges, penalties, and other fees before his account was eventually frozen, the police said.

The Cyber Crime Wing arrested C. Saravanakumar and remanded him to judicial custody.

Published - July 09, 2026 06:54 pm IST