In a major breakthrough, the cybercrime wing of Odisha’s state crime branch arrested five individuals, including a woman, from Surat for defrauding a Berhampur businessman of over Rs6 crore through a fake cryptocurrency trading platform.
The arrested individuals were identified as Sejal Ravikumar Sabhaya, Sabhaya Ravi Kumanbhai, Sabhaya Kumanbhai, Paras Dhirubhai Jesani, and Dharmesh Nanubhai Savaliya. These scammers created a fraudulent cryptocurrency trading platform designed to deceive and lure in unsuspecting investors.
The scam began in May 2024 when the victim, a businessman from Berhampur, was contacted on social media by an unknown woman, who posed as a Hong Kong-based software developer. She promised lucrative returns of 200% within days and added him to a chat group, where additional fraudsters continued to encourage him to invest.
Between May 23 and June 24, 2024, the businessman transferred a total of ₹6,16,37,084 to various accounts provided by the scammers, without properly verifying their legitimacy. Initially, the victim was led to believe that his investments were yielding substantial profits. However, when he tried to withdraw his supposed returns, the scammers began making excuses and eventually stopped responding altogether.
When the businessman demanded a refund, the scammers increased their demands, asking for an additional Rs89,00,000. They refused to return his money and then abruptly changed their contact numbers and disbanded the chat group. It was only then that the businessman realized he had been defrauded, prompting him to file a First Information Report (FIR) with the authorities.
Upon receiving the complaint, a team led by Crime Branch DSP Ratnaprava Satpathy launched an investigation. By tracking digital and banking records, the police managed to trace the scammers to Surat, Gujarat, where the arrests were made.
The police have confirmed that these individuals were part of a larger network operating fraudulent schemes under the guise of cryptocurrency investments. Investigations are ongoing to track down other potential accomplices and uncover more details about the scam.
This case serves as a stark reminder of the risks associated with online cryptocurrency scams and the importance of verifying the legitimacy of any investment opportunity before committing significant sums of money.
