Cyber Criminal Gang Busted: Investment Fraud Uncovered in Odisha

The Odisha Police Crime Branch has arrested three individuals, including two Nigerians, involved in a massive investment fraud. The gang operated under the guise of saffron business investments, luring victims with promises of high returns. The fraud spanned 94 cases across 10 states in India.

The Crime Branch (CB) of Odisha Police has arrested three individuals, including two Nigerians, involved in a significant investment fraud in New Delhi.

The arrested individuals are Christopher Chizobam, Nnamdi Stanley Mbamalu, both Nigerian nationals, and Arti Gautam from New Delhi. This organized gang of cyber criminals operated under the guise of investment in the saffron business, promising high returns, the CB stated on Saturday.

Arti opened bank accounts in her name and others, sharing these with Christopher, who used them to transfer fraudulently obtained money. Christopher was responsible for collecting mule accounts to facilitate the receipt of stolen money, while Nnamdi withdrew the cash from ATMs and handed it over to another Nigerian, according to the statement.

The fraudsters trapped a person from Bhubaneswar, luring him into a project for supplying saffron. They introduced a fake supplier pretending to be a regional manager at organics merchandise, a marketing agent for saffron farmers in India.

Initially, they supplied 10 kg of saffron for testing and later increased it to 110 kg as per the fake purchase order. The victim paid a total of Rs 2.65 crore through multiple transactions to various Indian bank accounts, the crime branch police said.

During the investigation, the CB found that this gang has been involved in 94 cases covering 10 states across the nation.