Bhubaneswar: The Crime Branch of Odisha Police has arrested three persons for allegedly duping investors of over Rs 7.08 crore in two separate cases of fraud in the name of online trade.
While one person was arrested from Karnataka in connection with Rs 1.03 crore fraud, two others were picked up from Maharashtra for cheating involving over Rs 6.04 crore.
In one case, a complaint was lodged by a citizen alleging that he was defrauded by unknown cyber fraudsters on pretext of higher return and investing in IPO and OTC trading. They persuaded him to trade in IPO and OTC, leading him to transfer Rs. 1,03,50,000/-. Despite initial losses, he was convinced to invest more, but when attempting to withdraw, they demanded an additional money and refused to release his funds. He realised it was a scam and lodged an FIR. The case is currently under investigation.
The Crime Branch Team after analysing the transaction details and working upon other digital evidences had crack down at Bengaluru. They arrested one person, identified as Ganesh K Setty (48) from Chandra Layout in Bengaluru. He was brought to Cuttack on transit remand and forwarded to the Court. He was booked under Sections 419/ 420/ 465/ 467/ 468/ 471/ 120(B)/ 34 IPC r/w Section 66-C/66-D of IT Act-2000.
Similarly, another complaint was lodged by a citizen that he was defrauded by unknown cyber fraudsters on pretext of higher return and investing in IPO and OTC trading. They persuaded him to trade in IPO and OTC, leading him to transfer Rs. 6,04,53,000/-. Despite initial losses, he was convinced to invest more, but when attempting to withdraw, they demanded an additional money and refused to release his funds. He realized it was a scam and lodged an FIR. The case is currently under investigation.
The Crime Branch Team after analyzing the transaction details and working upon other digital evidences had crack down at Mumbai and Pune. Two persons, identified as Swapnil Goraksha Dhokale (Pune) and Azaz Shafiq Shaikh (34) (Mumbai), were arrested and brought to Cuttack on transit remand.
The two have been booked U/S 318(4)/319(2)/ 336(2)/ 336(3)/ 338/ 340(2)/ 61(2)/ 3(5) BNS r/w 66-C/ 66-D IT Act 2000.
Previously, three accused persons have already been arrested in this case from West Bengal.
The Crime Branch has advised citizens to beware of unsolicited investment offers on social media and messaging apps—always verify before investing to avoid falling victim to cyber frauds and to report such matters at 1930 Cyber helpline or at nearest police stations.
