In a significant bust, Bhubaneswar Cyber Police arrested three men involved in a well-orchestrated fake investment scam targeting young professionals and middle-class families across Odisha.
The accused — Siddharth Pujari from Koraput, Abhinash Sahu from Khordha, and Vivek Singh from Jeypore Town — operated under the facade of two Bengaluru-based companies, using fake websites and agents to lure investors. They organised investment seminars at hotels and events, promising annual returns as high as 7%, and used fabricated success stories alongside high-pressure tactics to secure large investments.
Victims, including Soumya from Bhubaneswar, were enticed to invest substantial sums. Soumya invested Rs10 lakh but received no returns, prompting a complaint to the Cyber Police.
The ensuing investigation led to the arrests of Siddharth in Koraput, Abhinash in Khordha, and Vivek in Jeypore Town. Police seized:
Two laptops managing fake websites and transactions
Mobile phones with communication records
ATM and credit cards linked to fraudulent accounts
Bank details and chequebooks
Rs6 lakh frozen across two accounts
Deputy Commissioner of Police Jagmohan Meena, who spearheaded the operation, described the scam as a sophisticated syndicate that duped numerous investors by building false credibility.
The accused have been produced before the court, and investigations continue to track additional collaborators.
