The Crime Branch of Odisha Police has successfully arrested seven inter-state cyber fraudsters accused of duping a senior Biju Janata Dal (BJD) MLA and former minister of Rs1.4 crore. The fraudsters had promised high returns on investments in IPOs and OTC trading.
The accused were arrested after multiple raids were conducted by Crime Branch officials at various locations in Karnataka and Tamil Nadu from March 25 to March 28, 2025. The individuals arrested include Jyothi Raju (39), Raju C (34), Ismail Rahaid (27), and Vasim (28) from Karnataka, and Pattaraja S (34), Jegatheesh Radhakrishnan (40), and E Sakthikumaravel (50) from Tamil Nadu.
The BJD MLA, who became the victim of the scam, lodged a formal complaint with the Cyber Crime Police Station on January 13, 2025. According to sources, the MLA was first contacted by the fraudsters via a social media message several months earlier.
The accused, posing as trade analysts, persuaded the MLA to invest in IPOs, shares, and OTC trading with promises of high returns. Between November 13, 2024, and January 1, 2025, the MLA transferred a total of Rs1.4 crore. Despite initial losses, the fraudsters convinced him to invest more. However, when the MLA attempted to withdraw his funds, the fraudsters demanded additional payments and refused to release his money.
Realizing he had been tricked, the former minister filed a complaint with the Crime Branch, leading to the registration of a case under multiple sections of the Indian Penal Code and the Information Technology Act, 2000.
Following the raids, authorities seized incriminating items, including mobile phones, SIM cards, Aadhaar cards, PAN cards, bank documents, and more. The Crime Branch also froze several bank accounts linked to the fraudsters, recovering Rs4 lakh so far and freezing Rs15 lakh in one account. Efforts are underway to recover the remaining funds.
The arrested individuals have been brought to Odisha on transit remand and were produced before the court on Sunday. The investigation is ongoing as police continue their efforts to trace the rest of the stolen amount.
