Bhubaneswar: In a major step toward cracking down on cyber fraud, Odisha Police have arrested a 24-year-old man, Kathi Karthik Kumar, from Telangana for allegedly deceiving an elderly couple into investing Rs 23.39 lakh in a fraudulent Forex trading scheme.
The victims, Sabyasachi Prahraj and his wife, were misled with promises of high returns. Believing the scheme to be legitimate, they transferred the amount online — only to later discover it was part of a wider financial fraud.
A complaint filed in Bhubaneswar led to an in-depth investigation that uncovered Kumar’s link to a larger cybercrime syndicate. According to police sources, the group creates fake online trading platforms, uses forged identities, and impersonates legitimate companies to lure unsuspecting individuals — often targeting the elderly.
“The accused was tracked and apprehended in Telangana. The fraudulently obtained funds were funneled through various bank accounts associated with other ongoing scams,” a senior police officer said.
Odisha Police continue to investigate the network, aiming to identify and apprehend other accomplices involved in the operation. Officials are urging the public to exercise caution when approached with high-return investment offers, especially from unverified platforms.
