Odisha Police have arrested Ashwani Pal, a 41-year-old man from Raipur, Chhattisgarh, for duping an IT professional of Rs 19.84 lakh through a fraudulent investment scheme. The arrest was made following a complaint filed by the victim, an IT professional, who had been tricked into transferring large sums of money after being promised high returns on investments.
The scam began when the victim was contacted by Pal, who initially offered a subscription to a supposed investment scheme for just Rs 50. The victim, believing the offer to be genuine, joined a Telegram group where Pal encouraged him to invest in a supposed high-return scheme. Over time, the fraudster gained the victim’s trust by sending small initial payments of Rs 12,600 and Rs 1,550, making it appear as though the investment was legitimate.
Encouraged by the initial returns, the victim deposited a total of Rs 19.84 lakh in four different bank accounts over eight separate transactions, as directed by Pal. Additionally, the fraudster convinced the victim to open an account on a website, viacom1.com, to purchase Bitcoin and trade for profits. However, when the victim tried to withdraw his funds, the fraudsters prevented him from doing so and demanded large sums of money for “income tax clearance” fees.
Realizing that he had been duped, the victim approached the Odisha Crime Branch, which swiftly began investigating the matter. The police eventually tracked down Ashwani Pal, who was arrested for his involvement in multiple fraudulent activities. The authorities also seized several personal documents, including his mobile phone, SIM card, Aadhar card, and PAN card.
According to the police, Pal is facing multiple charges related to cyber fraud, and investigations are ongoing. The case highlights the growing threat of online investment scams, where fraudsters exploit the trust of victims through fake promises of high returns on investments.
