Unmasking the Online Betting Scam: Odisha's Million-Dollar Fraud

The Economic Offences Wing (EOW) of Odisha Police has arrested Jitendra Mallick for his role in a nationwide online betting scam. The fraud has impacted over 800 investors and is valued at more than Rs 1,000 crore. EOW has traced Rs 446 crore and frozen Rs 1.25 crore.

The Odisha Police Economic Offences Wing (EOW) has apprehended Jitendra Mallick from Bengaluru on charges related to an extensive online betting scam. The arrest marks another step in unraveling a fraudulent scheme that has ensnared over 800 investors across India.

The scam, which promised high returns, initially delivered payouts but soon collapsed as investor numbers surged. EOW revealed that the fraudulent app, promoted widely by Mallick, has resulted in Rs 1,000 crore in suspected illegal transactions.

Four other individuals had previously been detained from various states, and a lookout notice has been issued for another suspect. EOW continues its investigation, having already traced Rs 446 crore and frozen Rs 1.25 crore.

(With inputs from agencies.)