Odisha Police Busts International Cyber Fraud Racket

Odisha Police have dismantled an international cyber fraud operation based out of Rourkela, arresting nine individuals and seizing Rs 1.41 crore. The group ran a fake trading app called TradeNow, defrauding investors by promising high returns. The investigation continues with 176 accounts under scrutiny.

Odisha Police have successfully dismantled an international cyber fraud network operating out of Rourkela. The operation led to the arrest of nine individuals, with Rs 1.41 crore seized from 23 bank accounts, according to a senior police officer's announcement on Wednesday.

The accused, primarily from Chhattisgarh and Uttarakhand, allegedly used a fraudulent trading app named TradeNow to dupe investors with promises of high returns in the share market. Acting on a tip-off, the police placed two Rourkela apartments under close watch. The subsequent raids uncovered fake SIM cards, mobile devices, and laptops, among other incriminating evidence.

The mastermind, Kishan Agarwal, reportedly ran the racket from Dubai, targeting India and other countries. During interrogation, the suspects revealed that they initially provided small profits to gain investors' trust, later seizing larger investments under the guise of stock market losses. Police further uncovered the use of a video featuring a known Bollywood actor to promote the app.