Online trading scammers dupe 150 investors of crores in Odisha; 9 arrested

Berhampur police on Wednesday arrested as many as nine persons for allegedly duping more than 150 investors of Rs 4 crore after luring them into an online trading scam.

As per the allegations, the fraudsters amassed Rs 4 crore from over 150 investors from Khaja Sahi and the surrounding areas of Berhampur after promising to double their money in a short period through online trading.

The matter came to light when some affected youths in the area abducted one of the scammers after the alleged fraudster failed to return the money. Upon receiving information, the Town Police rescued the abducted individual from Digapahandi and arrested three suspects.

Not long after the arrest, reports of a dispute arose between two groups marred with violent clashes over recovering the lost money also surfaced.

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Following this, police arrested six more individuals, bringing the total number of arrests to nine. Till the last reports came in, authorities were carrying out a detailed investigation into the modus operandi of the group but did not offer any additional comments.

It is worth noting that online scams have witnessed a rapid surge in Odisha. Earlier, Chief Minister Mohan Charan Majhi had also noted the spurt and advised citizens to stay vigilant.

Online Scams in Odisha in the Last Six Months:

As per reports, over 59,000 people were cheated over the past six years in various cyber crimes in Odisha. A massive rise in cases was seen in 2024 with 472 cases affecting more than 40,000 people that year.

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Government action against cybercrime in Odisha:

To combat online fraud, a dedicated cybercrime unit was established in Bhubaneswar under the Crime Branch. Operational since September 2023, it handles various cyber offences such as identity theft, hacking, ATM and online banking fraud, and phishing.

Further, Odisha has also opened 11 new cybercrime police stations and upgraded three existing ones in Berhampur, Rourkela and Sambalpur.