In a major breakthrough, Bhubaneswar’s cybercrime and economic offences wing arrested two men from Rajasthan for defrauding a local resident of crores in an elaborate online trading scam. The accused, Naveen Kumar Jangir (22) and Mukesh Kumar Sheela (26), both from Churu, Rajasthan, reportedly manipulated a fake trading app to deceive the victim with promises of high returns.
The scam began when the cybercriminals added the victim to a social media group, where they shared a link to a fake trading app. Unbeknownst to the victim, the scammers had full control over the app, allowing them to fabricate profits and build trust. Initially, small withdrawals were permitted to further convince the victim of the scheme’s legitimacy.
Seeing a false profit of Rs 10.39 crore, the victim continued investing heavily. However, the scammers soon blocked his account and demanded an additional Rs 30 lakh to release the funds. Realizing he had been defrauded, the victim approached Bhubaneswar police, who quickly launched an investigation.
Working in collaboration with Rajasthan police, authorities arrested Naveen Kumar Jangir and Mukesh Kumar Sheela. The police seized Rs 5.77 lakh from Jangir’s account and recovered two mobile phones used in the operation.
Investigating officer PK Das revealed that the scam is linked to a wider cybercrime network in Rajasthan, with more individuals likely involved. The case highlights the growing threat of online trading scams in India, where manipulated apps and social media platforms are used to defraud unsuspecting investors.
Bhubaneswar police urge citizens to verify the legitimacy of trading platforms and exercise caution before making any financial investments online.