Chennai: A suspect in a multi-crore iridium investment scam was arrested by CB-CID at Chennai airport on arrival from Bahrain on Saturday. Suresh Kumar was remanded in judicial custody on Saturday for forging bank documents to cheat investors.The case was registered by the Salem branch of the Organised Crime Unit of the CB-CID on March 15, 2025, following a complaint from the assistant general manager of Reserve Bank of India. The fraudsters falsely claimed that thousands of crores had been credited by Union govt through RBI as proceeds from the sale of iridium copper and persuaded victims to pay ‘service charges’ and commissions to facilitate the release of the purported funds.Investigators said the gang used forged documents bearing the names of RBI, Defence Research and Development Organisation (DRDO), Bhabha Atomic Research Centre (BARC) and the Income Tax (I-T) department, besides fake iridium samples, to convince victims.The investigation revealed that Suresh Kumar, operating from Bahrain, prepared forged Union Overseas Bank and RBI documents showing fictitious transfers of large sums of money. Police said he received ₹45,000 for creating the fabricated documents. A Look out Circular (LoC) issued against him on Aug 7, 2025, led to his interception at Chennai airport on Friday night. His phone was seized for forensic analysis.Police said 50 victims had been identified, 20 accused arrested, and 47 iridium scam cases under CB-CID investigation. Large quantities of electronic devices, forged documents, fake bank cheques and counterfeit metal samples were also seized.
