Bhubaneswar: A 30-year-old man was arrested from Maharashtra by the Odisha Police for allegedly duping a Bhubaneswar-based investor of over Rs 26 lakh by promising high returns through a fake trading platform.
The accused, identified as Savyasachi Pisolkar of Nashik district in Maharashtra, was apprehended by the Cyber Crime Unit following probe into a complaint filed by Shakti Shankar Panda (41), a resident of Bhubaneswar.
As per the complaint, Panda came across a trading application through a WhatsApp group that claimed to offer lucrative profits from investments in IPOs and block trades. Impressed with the assurances, he transferred Rs 26.21 lakh to bank accounts linked to Pisolkar and his associates.
However, after the transactions, Panda neither received any returns nor was he able to recover his invested money. Realising he had been cheated, he lodged a complaint with the Cyber Crime police station.
Based on the complaint, a case was registered, and Pisolkar was traced and arrested from Maharashtra. Certified bank statement, KYC documents, nodal officer report from Axis Bank, and electronic evidence establishing transaction trail of fraudulent deposits were also seized from him.
Further investigation is underway to identify other members of the fraud network and trace the money trail, police added.