The cyber unit of the Odisha Crime Branch (CB) has arrested Tayyab Khan (23) of Bhopal and Firoz Khan (36) of Ratlam, Madhya Pradesh, for their involvement in a high-stakes investment fraud worth Rs1.50 crore.
The arrests were made following a complaint lodged on January 29, 2025, at the Cyber Police Station in Bhubaneswar. The complainant stated he had been duped into investing in International Metal Trading, lured by promises of high returns through IPO and OTC (Over-the-Counter) platforms.
Initially convinced by minor returns, the victim kept investing — eventually transferring Rs1.50 crore. However, when he attempted to withdraw his funds, the fraudsters demanded more money and blocked access, prompting him to file an FIR.
A CID team analyzed financial transactions and digital evidence, which led them to the fraudsters in Bhopal and Ratlam. Both suspects had posed as trade analysts, operating a sophisticated scam involving forged identities and fake trading platforms.
Upon arrest, police seized several incriminating items, including:
Mobile phones
SIM cards
Aadhaar and PAN cards
Details of multiple fraud-linked bank accounts (now frozen)
The accused were brought to Bhubaneswar on transit remand and have been sent to judicial custody following their appearance in SDJM Court, the CB said in a statement.
