Tamil Nadu, Coimbatore: In a major breakthrough, the Coimbatore City Cyber Crime Police have successfully cracked a sophisticated online investment scam, arresting three individuals, including an Assistant Manager from YES Bank.
The accused – Sivakumar (27) of Bangalore, Kumaresan (29) of Hosur, and Nithya (32), a bank employee residing near Hosur Public School – were found to be operating a fraudulent scheme that targeted unsuspecting investors through a WhatsApp group named “No.999-PIN-Wealth Think Tank.”
The primary complainant, Mr. Joju Mathew (51) from Ganapathy, Coimbatore, a freelance stock trader, was deceived by individuals posing as expert trading advisors. Among them was one “Mansi Jaiswal”, who falsely claimed to be a former Franklin Templeton employee with Wall Street experience. Through a fake investment firm named PIN FUND, falsely promoted as SEBI-registered, the victim was manipulated into transferring ₹50 lakhs over multiple transactions. When he was denied withdrawal, he realized it was a scam and reported it to the authorities.
The Cyber Crime team uncovered that a total of ₹90 lakhs had been funneled through various accounts linked to the accused. So far, 96 complaints have been registered, and officials are continuing to probe the depth of the scam by tracking seized accounts.
During the investigation, police recovered a significant amount of material evidence. Seized items include five mobile phones, nine SIM cards, 25 debit cards, 23 bank passbooks, 62 cheque books, three rubber stamps, one QR code scanner, and one bill book – bringing the total number of seized items to 129. These items are expected to provide further leads in the ongoing inquiry.
The Coimbatore Cyber Crime Police have earned well-deserved praise for their swift, coordinated, and intelligent response to this complex case. Their prompt action has not only led to key arrests but has also brought relief to many victims and potentially prevented further financial losses.
Public Advisory: The public is strongly urged to verify the authenticity of any investment platform or financial advisor and avoid transferring funds without proper due diligence. Suspected scams should be reported immediately to the Cyber Crime Helpline or nearest police station.
Our Citizen Reporter – Coimbatore
Mr. A. Gokul
