Odisha Police Arrests Cybercrime Gang in Multi-Crore Fraud Case

The Odisha Police's crime branch has arrested 15 cybercriminals connected to investment frauds involving crypto, stocks, and IPOs. The gang, consisting of members from Odisha and New Delhi, deceived victims into transferring large sums of money into fraudulent accounts. Investigations revealed their involvement in multiple cyber frauds across India.

In a significant crackdown, the Odisha Police's crime branch apprehended 15 cybercriminals allegedly implicated in a series of fraudulent investment schemes related to cryptocurrency, stocks, and IPOs. According to senior police officials, the suspects, operating under the guise of high-return investment schemes, orchestrated extensive cyber frauds.

The cybercriminal gang, with two masterminds from New Delhi and others from Odisha, systematically tricked individuals into transferring substantial funds to fraudulent accounts. “We have dismantled a well-coordinated network that defrauded victims across various states,” said Arun Bothra, Additional DGP of the crime branch in Bhubaneswar.

The arrests followed a complaint from a Bhubaneswar-based victim who was lured into a fake investment scheme via social media. The victim lost Rs 3.04 crore after initially investing Rs 5 lakh. Despite repeated attempts to withdraw, he failed, prompting police action. The operation led to the confiscation of significant evidence, including mobile phones, SIM cards, debit cards, and IDs.