Odisha Crime Branch has arrested two men from Ludhiana, Punjab, and Guntur, Andhra Pradesh, in connection with separate investment frauds that cheated victims out of more than Rs7 crore.
In the first case, Bittu Kumar (41) from Ludhiana was arrested for allegedly duping an Odisha-based investor of Rs6.16 crore through a fake digital currency trading scheme. According to the police, Kumar lured the victim with promises of high returns via digital currency exchange platforms. The victim transferred large sums to bank accounts provided by the fraudsters but was unable to withdraw funds later, realizing he had been conned.
Following a complaint to the Cyber Crime Unit, police tracked and arrested Bittu Kumar in Ludhiana. He was brought to Odisha on transit remand after being presented in court. During the arrest, officials seized mobile phones, SIM cards, and debit cards.
Kumar faces charges under multiple sections of the IPC—419, 420, 465, 467, 468, 471, 120(B), 34—and Sections 66-C and 66-D of the IT Act, 2000. He will appear before the Sub-Divisional Judicial Magistrate (SDJM), Berhampur.
In a second case, Sudheer Kumar (33) from Guntur allegedly scammed another Odisha-based investor of over Rs1 crore using a similar fake online trading investment pitch. After failing to retrieve his money, the victim alerted the authorities.
Crime Branch officers traced and arrested Sudheer Kumar in Guntur, seizing mobile phones, SIM cards, passbooks, cheques, and various documents. He was brought to Odisha on transit remand.
Officials stated that the arrests are part of an ongoing crackdown on cyber-enabled financial fraud. The public has been advised to remain vigilant and avoid dubious online investment offers.
