Chandigarh, Sept. 28 -- The cyber crime police station has arrested three cyber criminals involved in two major online financial frauds of Rs.11.28 lakh, exposing how victims were cheated through fake loan modification and investment schemes.

On the complaint of Yogesh Kumar, a resident of Chandigarh, police registered a case after he was cheated of Rs.4.61 lakh. The victim had earlier taken a business loan and later received a call from a person posing as a financial company executive. He was told his loan repayment could be modified only if he cleared the existing one. Persuaded, he transferred the amount via links sent over WhatsApp.

Investigations revealed that the defrauded money was deposited into accounts belonging to Vikrant Sin...