Bhubaneswar: The Odisha Crime Branch’s Cyber Police has arrested a man from Delhi in connection with a major online investment fraud in which a resident of Bhubaneswar was cheated of Rs 1.4 crore.
The accused has been identified as Yaseen Shah (38) of New Seemapuri.
According to a Crime Branch release, the victim had lodged a complaint alleging he was defrauded over a period of one-and-a-half months. Fraudsters lured him with promises of high returns through investments in the share market, specifically
IPOs and OTC trading. Following their instructions, the complainant transferred the money to multiple bank accounts. When he was unable to withdraw his supposed profits, he realised he had been scammed and reported the matter to the Cyber police station in Cuttack. Before filing the formal complaint, the victim had alerted the 1930 helpline to block the accounts involved.
A dedicated investigating team led by DSP Anila Anand conducted a thorough probe, meticulously tracking the money trail, analysing bank transactions, and examining digital evidence. The trail led investigators to Shahdara in New Delhi, where a raid was carried out, resulting in the arrest. The accused’s Aadhaar card and PAN card were seized.
Police said his account was one of the first-layer mule accounts used in the racket and had received Rs 2 lakh out of the total Rs 1.4 crore transferred by the victim.
This latest arrest takes the total number of people detained in the case to 16. Fifteen other accused persons have already been arrested from various states across the country. Further probe into the larger network behind the fraud is underway, the release added.