A 37-year-old man from Badbazaar in Sambalpur district, Ranjan Panda, has filed a complaint with the cyber police station alleging he lost Rs 65 lakh in an online investment scam.
According to Amia Dungdung, inspector of the cyber police, the Bengaluru-based company named in the FIR has been involved in multiple scams nationwide, with several perpetrators already arrested.
Panda said he was persuaded to invest by the company, which promised a 7% interest rate. After being shown details of another Odisha investor and attending several online meetings showcasing ‘fake’ investors’ luxurious lifestyles, he invested Rs 79.6 lakh starting with Rs 2.5 lakh on July 7, 2024. Panda received Rs 14.6 lakh back before the company’s website went offline in November 2024.
Attempts to contact the company were met with threats warning that approaching police would forfeit any chance of refund. After media reports exposed the scam, Panda lodged a complaint against Priyaranjan Swain, Abinash Sahoo, and Ajay Sharma.
The police are currently verifying the accused’s identities, with complaints registered in multiple Odisha cities including Bhubaneswar and Berhampur.
