Bhubaneswar: The Crime Branch of Odisha Police has arrested another accused in an online trading investment fraud case involving a staggering amount of Rs 6.28 crore. With this, the number of accused arrested in the case has gone up to 31.
The accused, identified as Mohammed Faiz Ahmed (23) of Hyderabad in Telangana, was arrested after a thorough investigation and analysis of transaction details and digital evidence, an official statement said on Wednesday.
The case was registered on August 24, 2024, based on a written report by one Kuntal Majumdar from Angul, who alleged that he was defrauded by unknown cyber fraudsters with promis of high returns on investments in IPO and OTC trading. The accused persons and their associates represented themselves as trade analysts and cheated the complainant of over Rs 6.28 crore.
The investigating team has been working tirelessly to crack the case, and so far, 30 accused persons have been arrested from various states, including Tamil Nadu, Gujarat, Rajasthan, Kerala, and West Bengal.
The Crime Branch has seized various incriminating articles, including mobile phones, SIM cards, screenshots of chats, and Aadhar cards. Several bank accounts of the fraudsters have also been frozen. The investigation is ongoing, and the team is working to unearth other accomplices and the money trail.
The CID Crime Branch has appealed to people to beware of unsolicited investment offers on social media and messaging apps and to verify before investing to avoid falling victim to cyber frauds. They can report such matters at the 1930 Cyber Helpline or at the nearest police station.
