Bhubaneswar: The cyber crime and economic offence police in Bhubaneswar on Tuesday arrested a 27-year-old man for allegedly duping a Bengaluru-based software engineer of Rs 8.32 lakh through a fraudulent investment scheme.
The accused has been identified as Swastik Nayak, a resident of Infocity here.
Nayak was arrested on the basis of a complaint lodged by the 26-year-old victim, originally from Chhatrapada in Jajpur, on April 22.
According to the complainant, Nayak convinced her to join a pyramid-structured multi-level marketing organisation, promising quick returns on investment. The victim, who knew him personally, invested a substantial amount in the bogus company and subsequently lost her money.
The investigation revealed that the accused allegedly misappropriated her money by presenting himself as a key associate of a Hong Kong-based financial organisation, which had previously conducted illegal money circulation operations disguised as direct selling multi-level marketing.
