The Crime Branch of Odisha Police has arrested six individuals from Tamil Nadu and Gujarat for their alleged involvement in an investment fraud totaling Rs71.95 lakh.
The accused include Arun Shaju, Seenu R, and Vasu J from Tamil Nadu, as well as Jaimin Kukdeja Megharajbhai, Brijesh Dayabhai Sathiya, and Udaya Rameshbhai from Gujarat. They reportedly deceived a resident of Bhubaneswar by promising higher returns on investments in shares.
Following a complaint registered on February 28, the Crime Branch launched an investigation that uncovered how Shaju and Megharajbhai opened bank accounts in their names. They shared the account details with Vasu, Seenu, and Rameshbhai to facilitate the transfer of the defrauded amount. Another member of the gang, Sathiya, is accused of obtaining the ill-gotten funds through cheques and passing them to hawala operators in Gujarat.
In January, the victim joined two WhatsApp groups promoting trading apps named GSQT and IBGINON. Encouraged by the group admins, he opened accounts on these platforms using specific web links. Initially seeing profits, he began investing more money, taking out personal loans and borrowing from family and friends. By February 22, he had deposited Rs71.95 lakh across ten different bank accounts, although he only observed profits in digital wallets.
Sources within the Crime Branch revealed that the fraudsters subsequently demanded additional funds from the victim, threatening that failure to comply would result in the loss of his investments and profits. Realizing the entire operation was a scam, the victim reported the matter to the Crime Branch.