Avadi police arrest three for duping people with fake forex trading advertisements
Avadi police have arrested three individuals for running a fraudulent forex trading scheme on Instagram. The suspects used fake profit videos to lure victims into investing in unauthorized platforms, collecting 40,000 rupees from each participant.
Why it matters
This case underscores the rising prevalence of social media-based financial scams and the need for increased public vigilance regarding online investment platforms.
The Cyber Crime Wing of Avadi City Police arrested three youngsters for allegedly collecting ₹40,000 each from around 40 people by advertising forex trading courses on Instagram and using videos showing purported profits to lure them into investing in trading platforms.
According to the Avadi City Police, the accused — Kavin Prasanth (24), Keerthivasan (24), and Parthiban (24), all from Thiruverkadu — operated an Instagram account, ‘tradingcrew’, through which they promoted forex trading and training courses.
On October 2, the account featured a video showing around 40 people purportedly earning lakhs of rupees through trading on the ‘Just Markets’ brokerage platform and ‘MetaTrader 5’. The video created the impression that participants had made substantial profits, the police said.
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