Bhubaneswar: In a major breakthrough, the cyber wing of the State Crime Branch has arrested two persons from Darjeeling district of West Bengal in connection with an alleged Rs 5.14 crore online investment fraud involving a fake trading platform.
The arrested accused have been identified as Kiran Gurung 55, a resident of Tiumal Para, Siliguri Bazar in Darjeeling district, and Randheer Kumar Ray, 46, a resident of Gurung Basti near Kali Mandir, Pradhan Nagar, in the same district.
The case was registered at the Cyber Crime Police Station under the Odisha CID, Crime Branch, April 9, 2025. It was filed under various Sections of the Bharatiya Nyaya Sanhita (BNS) and provisions of the Information Technology Act, 2000, related to cheating, fraud and identity theft.
According to the complaint, the victim was lured by unidentified cyber fraudsters into investing in the stock market through a fake online trading platform that promised unusually high returns. Believing the claims, the victim transferred a total of Rs 5.14 crore to multiple bank accounts over a period of 20 days, beginning March 17, 2025. To gain the victim’s trust, the fraudsters initially showed fake profits on the platform.
However, when the victim tried to withdraw the returns, the requests were denied and additional payments were demanded. Realising the fraud, the victim reported the matter to the Cyber Crime Helpline (1930), which led to the blocking of suspect accounts, and later lodged a formal complaint with the Cyber Crime Police Station in Cuttack.
Following registration of the case, an investigation team led by Inspector Rajakishore Behera carried out a detailed probe by analysing financial transactions, digital evidence and the money trail. This led to a raid in Darjeeling, where the two accused were identified and apprehended.
Investigators revealed that one of the accused was linked to a joint bank account used in the first layer of the fraud network, which received `49.1 lakh out of the total defrauded amount. During the raid, police seized several incriminating items, including mobile phones, SIM cards, Aadhaar cards, PAN cards, and other documents believed to have been used in executing the fraud.
Both accused were produced before the Additional Chief Judicial Magistrate in Siliguri and granted transit remand. They are being brought to Odisha for further investigation and will be produced before the SDJM court in Bhubaneswar.
Preliminary findings suggest that the accused were part of a larger organised network involved in running fraudulent investment schemes and routing illicit funds through multiple bank accounts. Efforts are ongoing to identify other members of the racket, trace the remaining funds, and dismantle the entire network.
The Odisha Crime Branch has once again urged the public to remain cautious of fraudulent investment schemes circulating on social media and messaging platforms. Citizens are advised to avoid investing based on unsolicited offers and promises of guaranteed high returns, and to verify the authenticity of trading platforms before making financial transactions.
