Chennai, Aug 2 (PTI) The CB-CID of the Tamil Nadu police has arrested a key accused in a multi-crore ‘iridium copper’ scam upon his arrival from Bahrain at the international airport here, officials said on Sunday.
The accused, identified as Chennai native Suresh Kumar, was intercepted by CB-CID sleuths on July 31 and remanded to judicial custody the following day, they said.
A Look Out Circular had been pending against Kumar since August 7, 2025, after investigators found that he had been operating from Bahrain.
The ‘iridium copper’ scam is an advance-fee fraud in which con artists trick victims into believing that a rare and highly valuable metal, called ‘iridium’ or ‘iridium copper’, has been sold for thousands of crores of rupees on the international market.
They then falsely claim that the proceeds are being withheld by government authorities and ask victims to pay various charges to release the funds.
According to a police statement, the racket involved a network of fraudsters who allegedly cheated people in Tamil Nadu and neighbouring states by falsely claiming that thousands of crores of rupees had been allocated by the Central government and the Reserve Bank of India from the sale of ‘iridium copper’.
To gain the confidence of unsuspecting victims, the accused allegedly fabricated documents purportedly issued by the RBI, the Defence Research and Development Organisation, the Bhabha Atomic Research Centre and the Income Tax Department.
Victims were allegedly induced to pay money under the pretext of clearing service taxes and paying commissions to RBI officials to facilitate the release of the funds, with promises of astronomical returns.
Investigations revealed that Kumar played a key role in the conspiracy by preparing counterfeit RBI and UOB documents from Bahrain, for which he allegedly received Rs 45,000. His mobile phone has been seized for forensic examination.
The Crime Branch-CID investigation was launched based on a complaint lodged by an Assistant General Manager of the RBI.
Subsequently, a case was registered on March 15, 2025, by the Salem City Organised Crime Unit under various provisions of the IPC relating to cheating and forgery, as well as the Information Technology Act and the Emblems and Names (Prevention of Improper Use) Act, 1950.
So far, investigators have found that around 50 people were allegedly cheated by the network. Before Kumar’s arrest, 19 other accused had been arrested and remanded to judicial custody in connection with the case.
Electronic devices, counterfeit bank cheques, and stones and metal objects allegedly passed off as ‘iridium’ were seized from the accused during the investigation.
The CB-CID is investigating 47 cases related to iridium and fake RBI document scams across Tamil Nadu, the statement added. PTI JR SSK
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