The Odisha Cyber Police arrested Priya Ranjan Swain, Bhubaneswar representative of “GPNS Business Private Limited,” for duping investor Soumya Ranjan Pradhan of Rs10 lakh in a fake investment scheme promising 7% monthly returns.
Pradhan, from Mancheswar Industrial Estate Area, invested through multiple transactions in 2024—Rs4.5 lakh in September, Rs3 lakh in November, and Rs2.5 lakh in July—transferred from his and his brother’s accounts. The company failed to pay the promised commissions or return the principal amount. When confronted, Swain gave evasive replies, raising suspicion.
The Cyber Police registered a case under the Bharatiya Nyaya Sanhita (BNS) and Section 66D of the IT Act. Swain confessed after arrest and is known to have 11 previous cases registered across Odisha.
Police seized mobile phones, a laptop, debit cards, a PAN card, a diary, and visiting cards from him. The fraudulent company is believed to have targeted multiple investors statewide using similar tactics.
Investigations continue to uncover the scam’s full scale and identify other victims.
Authorities caution the public to verify investment schemes thoroughly and avoid offers promising unusually high returns.