The cyber police have busted a gang involved in an online investment scam, arresting three persons and seizing electronic devices and financial instruments used in the fraud.
The accused have been identified as Deepak Kumar Dash, Chandan Kumar Sahu, and Ramahari Sahu. They were arrested from different locations including Bhubaneswar, Balasore, and Berhampur.
According to police, the gang lured the victim with promises of unusually high returns on investments in digital currency, initial public offerings (IPOs), and the stock market. Trusting their assurances, the victim transferred a total of Rs 1.45 crore. However, when he later attempted to withdraw the funds, the accused demanded additional payments and refused to release the invested amount. Realising he had been cheated, the victim filed an FIR.
The investigation was led by Inspector Amitav Das, who analysed transaction trails, mobile data, and other digital evidence. This led to the identification and arrest of the accused. Police recovered mobile phones, SIM cards, debit cards, and cheque books used to execute the scam.
The accused were produced before the court of JMFC-III (Cognisance Taking), Cuttack, and booked under relevant sections of the Indian Penal Code and the Information Technology Act. Police said further investigation is underway to trace the wider network involved in the cybercrime.
