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Odisha CB arrests two accused in Multi-Crore Online Investment Scam

Bhubaneswar, May 8 (UNI) The Odisha Crime Branch has arrested two fraudsters in separate cases for defrauding innocent investors of crores of rupees through fake online investment and stock market schemes, promising to make them millionaires.
According to Crime Branch sources, on October 4, 2023, a 50-year-old man from the Purighat police station area in Cuttack district was duped after being lured into investing in the stock market.
The accused had added him to a WhatsApp group named “C-51 ICICI Securities Official Stock” and persuaded him to invest through a fake app.
Initially, the cybercriminals returned small profits to gain his trust. Encouraged by these returns, the victim invested a significant amount.
Later, the fraudsters coerced him into taking a fake IPO-linked loan and ultimately swindled him out of Rs 2.36 crore.
Following a complaint, the police arrested Nikhil Jaiswal from Kolkata. Earlier, Mohammed Zaki had been arrested in connection with the same case from Hyderabad.
Nikhil was found to have defrauded the victim of Rs 1.41 crore.
During the investigation, officials seized mobile phones, SIM cards, chat screenshots, Aadhaar and PAN cards, and bank documents.
Multiple bank accounts linked to the accused have been frozen, and further investigations are underway to trace other accomplices and financial transactions.
In a similar case, the Cyber Crime Unit of the Odisha Crime Branch arrested 28-year-old Tapas Haldar from West Bengal. He is accused of defrauding the victim of a total of Rs 6.04 crore.
A doctor residing in Bhubaneswar, seeking higher returns through investments, fell victim to this scam.
Over a span of three and a half months, he was defrauded of Rs.6,04,53,000 in stages under the pretence of stock market and IPO investments.
When the doctor attempted to withdraw the money, he realised he had been scammed and subsequently filed a police complaint. The doctor had transferred the money from eight different bank accounts.
Investigations revealed that the funds were distributed across 22 different bank accounts and later withdrawn using cheques and ATMs.
Earlier, police had arrested Ashok Nanda and Jayrani Basak from Darjeeling in connection with this case.
Similar to the previous case, investigators seized mobile phones, SIM cards, chat logs, identity documents, and bank records from the accused.
Several bank accounts belonging to Tapas Haldar have been frozen. The investigation to identify further associates and trace the money trail is ongoing.
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Tags: #Odisha CB arrests two accused in Multi-Crore Online Investment Scam
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