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States » EastPosted at: May 23 2025 11:34PM


Odisha Cyber Crime unit arrests two in investment trading fraud case

Bhubaneswar, May 23 (UNI) The Cyber Crime Unit of the Odisha Crime Branch has arrested two individuals accused in an investment trading fraud case involving a sum of Rs. 1.55 crore.
Odisha Police sources, on Friday said a complainant from Bhubaneswar reported to the Cyber Crime Police Station that he was defrauded by unknown cyber fraudsters under the pretext of offering high returns through investments in international metal trading.
The fraudsters convinced him to trade in IPOs and over-the-counter (OTC) markets, leading him to transfer a total of Rs. 1,50,50,000. Despite incurring initial losses, the victim was persuaded to invest further.
However, when he attempted to withdraw his funds, the fraudsters demanded additional payments and refused to release the money. Realising it was a scam, the complainant lodged an FIR.
The investigation team, led by DySP Diptimayee Mallick, analyzed transaction details and digital evidence, ultimately traced the suspects to Ratlam and Bhopal in Madhya Pradesh.
Following verification in the locality, the team arrested Tayyab Khan and Firoz Khan, the alleged perpetrators.
According to Odisha Crime Branch sources, the accused and their associates posed as trade analysts and cheated the complainant of Rs. 1,50,50,000 in an elaborate investment fraud.
The case has been registered under Sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), 61(2), and 3(5) of the BNS, read with Sections 66-C and 66-D of the IT Act, 2000.
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