The Cyber Police in Odisha have arrested six individuals in connection with an online trading fraud that duped a complainant of Rs 78 lakh by promising high financial returns.
The accused — Bijaya Kumar Meher (Nagafena), Bishwambhar Kharsel (Palesira), Rajesh Tandi (Batharla), Anil Naik (Badapada), Sritam Meher (Jail Line Pada), and Dipak Dharua (Sunamudi) from Balangir district — operated a fake stock market company called Spreadex Global Ltd through the Telegram ID,
The victim was convinced to invest in the stock market after being contacted in February 2025. Over several months, he transferred amounts totaling Rs 78,00,000 through various bank accounts, including Kotak Mahindra, DBS, Axis, IDFC, and Bandhan Bank.
Realizing the scam, the victim filed a complaint on April 24, 2025. Cyber Police registered a case under relevant IT and BNS sections and launched an investigation using data from banks and telecom authorities. Despite fraudsters using VPNs and foreign IP addresses, police tracked their mobile numbers, bank transactions, and ATM footage.
Under the supervision of the Bhubaneswar-Cuttack Police Commissioner, a special investigation team arrested the six accused with help from Bolangir Police. Authorities seized multiple mobile phones, ATM cards, bank passbooks, cheques, SIM cards, and Rs 4.3 lakh in cash.
Additionally, 66 fraudulent bank accounts and Rs 7,38,237 were frozen. Police continue their probe to apprehend any remaining culprits involved in the syndicate.
