The Crime Branch of Odisha Police arrested six individuals from Tamil Nadu and Gujarat on Thursday for their alleged involvement in an investment fraud totaling Rs 71.95 lakh.
The accused have been identified as Arun Shaju, Seenu R, and Vasu J from Tamil Nadu, and Jaimin Kukdeja Megharajbhai, Brijesh Dayabhai Sathiya, and Udaya Rameshbhai from Gujarat. They are accused of deceiving a resident of Bhubaneswar with false promises of high returns from investments in shares.
According to police sources, a complaint was filed on February 28, prompting the Crime Branch to launch an investigation into the matter. The probe revealed that Shaju and Megharajbhai opened bank accounts in their names and provided the details to the other gang members—Vasu J, Seenu R, and Rameshbhai—who used these accounts to collect the illicit money. Sathiya allegedly collected the money via cheques and handed it over to hawala operators based in Gujarat.
The victim had joined two WhatsApp groups in January that promoted fake trading apps, GSQT and IBGINON. The group admins encouraged the complainant to open accounts on these platforms using special links. Initially, he received some profits, which enticed him to invest more. He eventually took personal loans and borrowed money from family and friends to deposit a total of Rs 71.95 lakh into 10 different bank accounts.
However, by February 22, the complainant could only see profits in digital wallets, and the fraudsters demanded even more money, threatening to take away his entire investment if he did not comply. Realizing that he had been scammed, the victim reported the fraud to the Crime Branch.
The six accused were arrested in connection with this scam, and further investigations are underway to identify and apprehend others involved in the operation.