A 39‑year‑old former bank relationship manager was arrested in Chennai on Friday for defrauding an investor of Rs 23 lakh by selling fake bonds. Police said the accused promised high returns and collected cheques that were later deposited into a fraudulent account.
The victim, 40‑year‑old Hema Priyadarshini, said she was introduced to the accused, Pooja Jain, in 2024 through a relative. Jain promised a monthly return of 30 per cent on ‘IBL Bonds’ and persuaded Priyadarshini to write a cheque for Rs 15 lakh to ‘IBL & Co’. After receiving initial interest payments, Priyadarshini invested an additional Rs 8 lakh in March 2025.
Investigators found that Jain, who had worked as a bank relationship manager since 2019, used customer database records to target investors. She created a fraudulent domain, INDIABONDSLIMITED, and opened a bank account in the name of the fictitious entity ‘IBL & Co’. Cheques were deposited into this account before the funds were transferred to Jain’s personal savings accounts. She also generated fake bond certificates and sent fraudulent email acknowledgements to investors.
Jain, a resident of Mint Street in Park Town, was arrested after the Greater Chennai Police Commissioner directed a special cyber‑crime team to investigate. She had prior fraud cases registered against her at Nungambakkam and Kolathur police stations and with the Central Crime Branch. The accused was produced before a local court and remanded in judicial custody, while police are searching for and attempting to arrest her alleged accomplices who are absconding.
