The cyber wing of the State Crime Branch arrested two individuals from West Bengal on Monday in connection with a Rs 6.04 crore investment fraud involving share market and IPO allotment scams.
The accused have been identified as Ashok Nanda (53) of Himalayan Orchid Apartment, Pradhan Nagar, Darjeeling district, and Jayarani Basak (38) of Bakimpally, Panihati, North 24 Parganas district.
The case was registered on January 13, 2024, following a complaint that the victim was defrauded of Rs 6,04,53,000 over 3.5 months. The fraudsters had promised high returns through IPO and OTC trading schemes, convincing the victim to transfer the amount into multiple bank accounts.
Investigations revealed that the complainant transferred money into 22 different bank accounts using eight accounts owned by himself and his associates. The funds were quickly layered and withdrawn via cheques and ATMs, often on the same day.
Ashok Nanda, arrested on May 1 from Siliguri, was identified as a first-layer account holder who received Rs 1.11 crore directly. He runs a hotel in Siliguri and was found with mobile devices and identity documents, which were seized by authorities.
Jayarani Basak was arrested on May 4 and is a second-layer account holder, having received Rs 6 lakh from Nanda’s account. Similar items were confiscated from her possession.
Both accused were produced before the SDJM Court in Bhubaneswar.
The Odisha Crime Branch has cautioned citizens to be wary of unsolicited investment offers on social media and messaging platforms, advising verification of schemes before investing. Suspected cyber frauds should be reported promptly via the 1930 Cyber Helpline or local police stations.
