Woman held for share market scam

The District Crime Branch police arrested a 30-year-old woman from Vriddhachalam on Monday on charges of being involved in a scam that defrauded several people through false promises of lucrative returns in the share market.

The arrested, identified as P. Pradha of Virattikuppam near Vriddhachalam, was produced before a local court and remanded to custody. The arrest followed a complaint lodged by one of the victims with the DCB.

Police said the complainant had fallen victim to a monetary fraud through a bogus share trade and had deposited ₹72.65 lakh in various bank accounts. The complainant realised that she had been duped only after not being able to get the promised returns.

The police said the accused along with a few others she had employed misled a number of individuals into believing that their investments were profitable, thus prompting them to deposit a significant sum of money. A case has been registered.

Published - June 03, 2025 09:04 pm IST