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Odisha Crime Branch arrested a cyber fraudster for allegedly duping a 50-year-old resident of Purighat area in Odisha’s Cuttack of Rs 2.36 crore in online investment scam by posing as a stock market expert, official sources said on Thursday.
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How was the man duped?
According to the complaint lodged at Cyber Crime Police Station, the victim was lured into a WhatsApp group named ‘C-51 ICICI Securities Official Stock’, where unknown individuals promised lucrative returns on investments in stock markets and IPOs through a fake trading platforms.
Initially, the victim was shown small profits to gain his trust. As confidence grew, he was persuaded to take a fake loan worth Rs 1.5 crore to invest in high-return IPOs.
However, when the victim attempted to withdraw his money, the app showed a perpetual ‘Pending Review’ status. The fraudsters then began to pressurise him to repay the non-existent loan.
It was only after losing Rs 2.36 crore that the victim realised he had been trapped in a well-planned scam operated through multiple WhatsApp numbers and false identities.
The man immediately lodged an FIR. The case is currently under investigation, with Crime Branch Additional SP Satya Vikash Bhuyan leading the probe.
Action taken by Crime Branch so far:
The probe team seized various incriminating articles including a mobile phone, SIM cards, screenshots of chats in WhatsApp, Aadhaar cards, a PAN card, bank passbooks, cheque books, debit cards etc.
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Crime Branch has already frozen several bank accounts of the fraudsters. A probe into the case is underway, a Crime Branch official stated.
Cybercrimes are going on rampantly these days. Police have urged people to remain vigilant, avoid unverified financial platforms, and report suspicious activities promptly.
