Bhubaneswar: Odisha Police Crime Branch busted an inter-state cyber fraud gang and arrested seven of its members for cheating a man of Rs 1.4 crore, an officer said Sunday.
Out of the seven arrested accused persons, four are from Karnataka and three others belong to Tamil Nadu, the officer said.
The accused and their associates posed as trade analysts, deceiving the complainant under the pretext of investments with promises of high returns in IPOs (initial public offerings), shares and OTC (over-the-counter) trading, he said.
During the investigation, the cybercrime unit of the crime branch found that the accused persons fraudulently obtained a sum of Rs 1.40 crore from the complainant between November 13, 2024 and January 1, 2025, he said.
“After thoroughly analysing transaction details and examining digital evidence, we successfully cracked the case. The accused persons have been apprehended from various locations across Karnataka and Tamil Nadu,” the officer said.
After producing the accused persons in the local courts in Karnataka and Tamil Nadu, the Odisha Crime Branch brought them here on transit remand Sunday.
The investigating team has seized mobile phones, SIM cards, WhatsApp chat screenshots, Aadhaar cards, PAN cards, bank passbooks, chequebooks, and debit cards from the accused persons.
The Crime branch officials have recovered Rs 4 lakh and frozen Rs 15 lakh in the bank accounts of the accused persons, sources said.
PTI
