Bhubaneswar: Odisha Crime Branch has arrested another accused in an online trading investment fraud case involving an amount of Rs 1.4 crore. The arrested accused has been identified as Amanullah Khan of Telangana.
A statement from Crime Branch said on Friday that a complainant from Bhubaneswar had filed a report with the Cyber Crime Police Station on January 13, 2025 stating that he had been defrauded by unidentified cyber fraudsters. They lured him with promises of high returns through investments in IPOs and OTC trading.
Persuaded by their assurances, he began trading and, between November 13, 2024, and January 1, 2025, transferred a total of Rs 1,40,00,000.
Despite initial losses, the fraudsters convinced him to invest further. However, when he attempted to withdraw his funds, they demanded additional payments and refused to release his money. Realising he had fallen victim to a scam, he promptly lodged an FIR. The case is currently under investigation.
The Crime Branch team, after thoroughly analysing transaction details and examining digital evidence, successfully cracked the case. As a result, the accused/s was apprehended from Hyderabad in Telangana after Karnataka and Tamil Nadu.
The accused and their associates posed as trade analysts, deceiving the complainant under the pretext of investments in IPOs, shares, and OTC trading.
Investigations have revealed that they fraudulently obtained a sum of Rs 1,40,00,000 from the complainant.
Consequently, he has been charged under Sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), 61(2), and 3(5) of the BNS, along with Sections 66-C and 66-D of the Information Technology Act, 2000.
The accused person had been produced before the Court of Court of Special Judicial First-Class Magistrate at Gandhi Bhawan, Nampally, Hyderabad, Court and is being brought on transit remand to Odisha and produced at SDJM, Bhubaneswar.
The investigating team has seized various incriminating items, including mobile phones, SIM cards, Aadhaar cards, PAN cards, bank passbooks and debit card.
The investigation is progressing, with the team working diligently to uncover other accomplices, trace the trans-India network of this cyber fraud, and map the complete money trail.
