MIFX Regulation, Is This Indonesian Broker Safe?
MIFX is a regulated Indonesian broker with STP licenses from BAPPEBTI, JFX, and ICDX. Learn how its oversight protects traders and ensures compliance.
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Abstract:The Chennai police have uncovered an INR 1.62 crore online forex trading scam involving a social media influencer, Vishnu, and his wife, Asmitha, a popular makeup artist. Read more.

In a major revelation, the Chennai police have uncovered an INR 1.62 crore online forex trading scam involving a social media influencer, Vishnu, and his wife, Asmitha, a popular makeup artist. As per the police, the two defrauded many investors. The Central Crime Branch of Chennai Police booked the couple along with Vishnus mother and sister after Chandrasekaran, a Thanjavur-based resident, filed a complaint.
Chandrasekaran stated that Vishnu, who runs a YouTube channel namely Political Lens and promotes a natural beauty product business i.e. Neetu Vishnu Organic, insisted that his family should invest in Connoisseur Investment Limited, a trading company. Vishnu claimed that his mother had 25 years of trading experience and promised up to 4% returns on investments.
Chandrasekaran and his family invested INR 1.62 crore overall. While Chandrasekaran put in INR 62.25 lakh, his wife Nirmaladevi chipped in with INR 27.25 lakh, his elder daughter Saithanya invested INR 29.50 lakh, and his younger daughter Aishwarya gave INR 43 lakh. Aishwarya, in fact, used to follow Asmithas makeup videos on Instagram.
Vishnu abruptly stopped the profit payment he promised after December 2023. According to Chandrasekaran, Vishnu issued post-dated cheques, but they later received a legal notice preventing their deposit in the bank. The family even requested Vishnu to hand them the principal amount only. However, despite repeated requests, the family could not receive their funds. Frustrated by the incident, the family filed a complaint with the Chennai Police Commissioners office.
In a major twist to the forex investment scam episode, Asmitha filed a complaint against his husband, Vishnu, with the Virugambakkam All Women Police Station. She claimed that Vishnu harassed, assaulted, and used her name to begin the scam. Vishnu was arrested and was in jail for a brief period following her complaint. However, the investigation found everyone - Asmitha, Vishnu and his mother and sister - guilty of committing fraud. As a result, cases were registered against all four.
Some videos went online showing the assault on Vishnu and the constant threats he received over the alleged forex investment scam. Vishnu claimed that many individuals targeted him and demanded a fund return. They filed a complaint with the police. These individuals, in response, stated that Asmitha leaked the incriminating video to social media channels, adding to the public spat.
Vishnu also hogged the limelight for devotional Ayyappan songs and luxurious lifestyle exhibited on Instagram. Some users claimed that Vishnus overall forex trading scam amounts to over INR 60 crore.
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