Odisha Police busts cryptocurrency racket operating from Cambodia

In a major breakthrough, Rourkela Police on Saturday busted a cryptocurrency racket that was reportedly being operated from Cambodia. Police arrested six persons including the mastermind of the racket from different parts of the country.   
The accused have been identified as Ujjawal Utkarsh, the mastermind, and his associates Nabin Rao, Sanjib Jain, Pankaj Rao, and Md Nassiruddin, all from Chhattisgarh. 

The members of the racket were staying in Cambodia. They have swindled nearly Rs 15 crore from people through fake mobile applications in the last one year. It was learned that four persons of Sundargarh fell victim to the racket.  

Addressing a presser, Rourkela SP Mitrabhanu Satpathy said, "A complaint of fraud was lodged with Rourkela Cyber police station on December 30, 2023. The complainant claimed that he was swindled of Rs 65 lakh. Police started an investigation by registering a case (29-30-12-2023) and detected frauds committed by a big racket.”  

“These people usually make fake applications and lure people into investing in various shares by promising high returns. They made an India SEBI App through which they received investments from various parts of the country and even abroad. Police later came to know that as many as 210 cases of fraud have been registered against the gang in different states,” the SP said.

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He added that their counterparts in various states and enforcement agencies are being contacted about the frauds committed by the racket A joint investigation will be launched, he stated. 

Many bank accounts linked to the accused have been frozen while over 200 SIM cards seized from them have been deactivated, the SP added.