that defrauded numerous investors across India, resulting in the arrest of seven individuals. The operation, led by Senior Superintendent of Police (Crime & Investigation) R. Kalaivanan and Superintendent of Police S. Bascarane, uncovered 64 bank accounts involved in the fraud, with transactions amounting to ₹56 crore over the past nine months.
During the investigation, authorities seized over 50 computers, luxury vehicles, a high-end motorcycle, and multiple credit and debit cards. The scammers had used the stolen funds to acquire luxury bungalows in Bengaluru and resorts in Yercaud, Puducherry, and Kodaikanal.
The investigation, which began after a local resident lodged a complaint, revealed a widespread fraud network targeting over 1,57,000 potential victims through the websites of Global Software Solution, Algo Master Trading, and Gleam Global Services. The police are now reaching out to these individuals for further information.
The complaint was filed by Kokila, who had invested ₹18 lakhs in what she believed was a legitimate trading software, only to find herself unable to contact the fraudsters afterward. The Cyber Crime Police registered a case and, after a two-month investigation, traced the scam to operations in Bengaluru and Neyveli, revealing connections to an international network.
On August 31, a special police team conducted a successful raid in Bengaluru, apprehending the key suspects. The investigation also exposed a vast network of call centers operating since 2014, using foreign internet connections to evade detection. The masterminds behind the scam, identified as Nawshad Khan and Tufail Khan from Neyveli, remain at large, with five additional suspects still on the run.
The Puducherry Cyber Police urge the public to be cautious when dealing with online trading platforms that promise high returns with little risk and encourage victims to come forward and report any incidents.
