Cuttack: The cyber unit of Odisha Crime Branch (CB) has arrested two persons from Madhya Pradesh in connection with an investment trading scam, amounting to Rs 1.50 crore.
The accused have been identified as Tayyab Khan (23) and Firoz Khan (36) from Bhopal and Ratlam respectively in Madhya Pradesh.
They were arrested on the basis of a complaint lodged on January 29 this year at the cyber police station in Bhubaneswar.
The complainant alleged that he was defrauded by cyber fraudsters on pretext of higher return by investing in International Metal trading. “They persuaded him to trade in IPO and OTC, leading him to transfer Rs. 1,50,50,000. Despite initial losses, he was convinced to invest more, but when attempting to withdraw, they demanded additional money and refused to release his funds. He realised that it was a scam and lodged an FIR,” a CB release said.
The CID team later analysed the transaction details and worked upon other digital evidence which were traced to Ratlam and Bhopal in Madhya Pradesh. After verifying the details in the locality, the two perpetrators, who presented themselves as trade analysts, were identified and arrested. Several incriminating items, including mobile phones, SIM cards, Aadhar cards, and PAN cards, were seized from them. Several bank accounts of the fraudsters were also freezed.
“The accused persons were brought on transit remand and were forwarded to the SDJM Court in Bhubaneswar, which remanded them to jail custody,” it said.
Further investigation is underway to unearth other accomplices of this crime, its trans-India ramification and the money trail.
The Odisha Crime Branch has also issued a public advisory, urging citizens to exercise caution with unsolicited investment offers on social media and messaging platforms.
