Salon owner arrested as mastermind of fake trading App cyber scam; 3 held

Cyber Police have arrested three persons, including a salon owner, for allegedly cheating people of lakhs of rupees through a fake online trading application. The arrested salon owner is suspected to be the mastermind behind the organised cyber fraud racket in Bhubaneswar.

According to police sources, the prime accused, Lala Basant, who runs a salon, operated the fraudulent network with the assistance of Chinmay Sahu, a graduate student. Another accused, Manas Kumar Sahu, allegedly acted as a middleman, facilitating financial transactions and coordinating between victims and other members of the gang.

Multiple Cases Linked Across the Country

Investigations revealed that multiple complaints have been registered against the accused in different parts of the country. The gang allegedly developed fake trading applications and lured unsuspecting people by promising exceptionally high returns on investments.

In one major case, the accused reportedly duped a retired employee from Bhubaneswar by assuring him returns of Rs 2 crore. The victim was eventually cheated out of Rs 94 lakh.

Following a complaint lodged at the Cyber Police Station, officials launched a detailed probe, traced the digital and financial trail, and arrested the three accused.

Roles of the Accused Identified

ACP Suchitra Das said one of the accused was the holder of a bank account through which large-scale financial transactions were carried out. Another accused, who runs a salon, allegedly used a current account to route the fraud proceeds. The third accused acted as a supervisor, overseeing and coordinating all monetary transactions linked to the cyber fraud operation.

Police said further investigation is underway to identify additional victims and ascertain whether more individuals are involved in the racket.