The Bhubaneswar-Cuttack Commissionerate Police on Sunday arrested Amulya Kumar Sahoo, the key accused in a major cyber fraud case involving fake stock market investments. The 40-year-old, a resident of Sainta village in the Gopalpur area of Bhadrak district, was apprehended in Bhadrak with assistance from Chandbali Police.
The arrest follows a complaint filed on January 5, 2025, by a victim who had been defrauded by a group impersonating stockbrokers under the name Allianz Global Investors. The victim had joined a WhatsApp group on November 14, 2024, and was convinced to open a “VIP trading account” through a mobile app called Trade Genius. The fraudsters, using the numbers persuaded the victim to make six transactions totaling Rs7,68,005 in November and December 2024.
Upon realizing the scam, the victim reported the incident via the National Cybercrime Reporting Portal (NCRP) and approached the Cuttack Cyber Police Station. A detailed investigation was initiated, involving inputs from telecom operators and financial institutions. The police traced the fraudulent activity to Amulya Kumar Sahoo, who had provided his bank account and mobile number details for the fraudulent transactions. His account was used to receive and route the defrauded funds.
A special team, under the supervision of ACP Satyajit Das and including officers such as Inspector R. Jena and SI Lili Sahoo, successfully traced and arrested Sahoo in Bhadrak.
During the investigation, police seized several items from the accused’s possession, including:
5 cheque books (from UCO Bank, SBI, HDFC, B.B. Central Co-op Bank, Suryodaya SFB)
12 ATM/credit cards from various banks
3 mobile phones (Samsung Galaxy F15, Galaxy J6+, Samsung Duos Keypad)
5 SIM cards (3 Jio, 1 Airtel, 1 BSNL)
Key documents: Aadhaar Card, 2 PAN cards, NPS Card, Driving License, Voter ID, and two ATM cards in others’ names
Amulya Kumar Sahoo has been brought to Cuttack for court production, and the investigation is ongoing to trace other individuals involved in the fraudulent network.
