Maharashtra man arrested for ‘duping’ Odisha investor on promise of high returns

Bhubaneswar: A 30-year-old man from Maharashtra was arrested by the Odisha Police for allegedly duping an investor with the promise of high returns, officials said Friday.

Savyasachi Pisolkar (30), a native of Maharashtra’s Nashik district, was arrested by the Cyber Crime unit on the basis of a complaint lodged by Shakti Shankar Panda (41), a resident of Bhubaneswar, they said.

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In the police complaint, Panda said he came to know about a trading app through a WhatsApp group.

Lured by promises of high returns from investments in IPOs and block trades, Panda said he transferred Rs 26.21 lakh into the bank accounts of Pisolkar and his associates.

However, he did not get back the money he invested, police said.

A case has been registered, and an investigation is underway, they said.

PTI