The Crime Branch of Odisha Police has arrested six individuals involved in a significant investment fraud scheme operating from Tamil Nadu and Gujarat. The arrested suspects are: Arun Shaju ,Seenu R, Vasu J, Jaimin Kukdeja Megharajbhai, Brijesh Dayabhai Sathiya, Udaya Rameshbhai from Gujurat.
According to reports, Arun Shaju and Jaimin Kukdeja opened bank accounts to facilitate fraudulent activities, while Vasu J, Seenu R, and Udaya Rameshbhai acted as account collectors, obtaining additional mule accounts to streamline the transfer of stolen funds. Brijesh Dayabhai Sathiya was responsible for withdrawing cash via cheques and distributing it to hawala operators in Gujarat.
The fraud came to light after a Bhubaneswar resident, interested in share market trading, was lured into joining two WhatsApp groups promoting fake trading apps named “GSQT” and “IBGINON.” After initially seeing profits, the victim was encouraged to invest more money, ultimately depositing Rs71.95 lakhs into various accounts. When he sought to withdraw his funds, the fraudsters threatened him, claiming he would lose everything unless he transferred additional money.
Realizing he had been deceived, the victim filed an FIR with the Crime Branch, leading to the arrests.
