The Special Crime Unit of the city police on Wednesday arrested a couple accused of running a fraudulent gold trading scheme, duping multiple investors of around Rs12.6 crore.
The accused, Ramesh Chandra Majhi and his wife Anisha Subudhi, were taken into custody near Biju Patnaik College following a complaint by Bholanath Mohanty, Managing Director of a private firm. Mohanty claimed he was defrauded of Rs5.6 crore between 2022 and 2023.
According to the investigation, the couple falsely posed as authorised gold traders, allegedly using forged documents that appeared to be from the Reserve Bank of India to convince investors of their legitimacy. They collected large sums via bank transfers and cash while issuing signed undertakings promising high returns.
Initially residing in Nayapalli, the couple vacated their residence after the fraud and went into hiding, making it difficult for victims to locate them.
Police revealed that at least 15 investors were targeted, with total losses estimated at Rs12.6 crore — Rs7 crore of which came from investors other than Mohanty.
A police official stated, “This was a premeditated operation involving multiple victims. We’re working to trace the flow of money and recover the investments.”
Ten of the victims have approached the Police Commissioner seeking justice. Authorities have urged any additional victims to file complaints at their local police stations.
The couple has been presented before the court as recovery proceedings begin.
