Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Police has arrested three fraudsters for allegedly duping investors of over Rs 2 crore through fake online trading schemes, a senior EOW official said on Friday.
The accused have been identified as Bikram Keshari Sahoo of Patia, Dinesh Moharana of Soubhagya Nagar, and Sarbanam Sabat of Saheed Nagar, Bhubaneswar. The case was registered following a complaint by investor Sasadhar Mitra, a resident of Chandini Chowk in Cuttack.
According to Mitra, during 2023, the accused induced him and other investors to invest in online trading schemes operated by BITOX and its associated entities, including AEXN Global, Cars Corner, and Eclat Coin. They promised high returns within a short period, claiming that principal amounts would be refunded in three months.
Mitra invested Rs 41,30,200, while other investors, including Jayanti Panigrahi and Sukhmay Das, collectively invested over Rs 1.28 crore. After collecting the funds, the accused allegedly shut down company websites and mobile apps and fled without returning the investors’ money.
Investigations revealed that Bikram, along with Dinesh and Sarbanam, conducted promotional meetings in Bhubaneswar, Cuttack, and other states including Himachal Pradesh, West Bengal, and Andhra Pradesh to lure the public into investing.
The EOW continues to investigate whether the accused orchestrated similar scams targeting additional investors in other regions.
