Online trading scam: Crime Branch arrests cyber fraudster from Bhubaneswar

The Crime Branch on Monday arrested a cyber fraudster in connection with a large-scale online cheating case involving more than Rs 6 crore. 

The accused has been identified as Bedagiri Srinivasa Rao, a native of Andhra Pradesh.

According to reports, Rao was arrested in Bhubaneswar following an extensive investigation into the cyber fraud racket. He is accused of duping victims by luring them into investing money through a fake online trading platform, promising high returns.

According to sources, the scam was well-organised and operated across multiple states. Earlier, five accused were arrested from Surat, while another accused was nabbed from Ludhiana in connection with the same case. The arrests helped the Crime Branch trace the wider network and ultimately led to the arrest of Rao.

Also Read: Inter-state cyber fraud gang busted in Bhubaneswar, 60 mobiles seized

The fraudulent operation allegedly involved convincing unsuspecting individuals to invest large sums of money through deceptive digital platforms. Once the money was deposited, the accused and his associates allegedly siphoned off the funds.

The Crime Branch is continuing further investigation to identify other possible links, trace the money trail, and determine whether more people were involved in the cyber fraud network.