Odisha Crime Branch has arrested two cyber fraudsters from Punjab for running a high-value investment scam involving fake IPO and Over-The-Counter (OTC) trading schemes. The duo lured victims with promises of unusually high returns, using sophisticated online tactics to gain their trust.
The case came to light following complaints registered under CID CB Cyber Crime PS Case Nos. 60/2024 and 13/2025. Investigations led by Inspector Namita Kumari Sahu uncovered a meticulously designed fraud amounting to Rs9 crore. One victim lost Rs7.5 crore, while another was cheated of Rs1.55 crore, after being manipulated through professional-looking investment platforms.
The fraudsters persuaded victims to keep investing and later refused to release the funds, demanding additional payments under the guise of “withdrawal processing fees.”
After extensive digital forensics and technical tracking, the Crime Branch arrested Amrit Pal from Sangrur and Pardeep Soni from Ludhiana. Both were produced before local courts and brought to Odisha on transit remand.
The accused face charges under several sections of the Bharatiya Nyaya Sanhita, 2023, along with relevant provisions of the Information Technology Act, 2000.
The CID Cyber Crime Branch has urged citizens to remain cautious of unsolicited investment offers, particularly those circulated through social media, apps, and private messaging. Victims of cyber fraud can seek help by calling the 1930 helpline or by approaching their nearest police station.
