The Odisha Crime Branch has arrested a man named Umashankar Dixit from Bhadrak for allegedly defrauding a Bhubaneswar resident through a fake online trading scheme posing as a SEBI-registered company.
Dixit, the proprietor of M/s Dixit Enterprisers, lured investors under the false claim that his firm was affiliated with AK Capital Ltd, a legitimate-sounding financial entity. He promised high returns on investments, a tactic commonly used in financial scams.
The case came to light after Dharmendra Prusty, a resident of BDA Colony, Chandrasekharpur, filed a complaint alleging he had been deceived into investing Rs5 lakh with the promise of high interest.
Investigation revealed that the complainant had transferred Rs5,00,000 on January 15, 2025, to a bank account belonging to the accused.
According to IDFC First Bank’s report, the account was held solely by M/s Dixit Enterprisers, confirming Dixit’s direct involvement.
Additionally, the police seized the registered SIM card used during the creation of the fraudulent bank account.
Authorities confirmed that the accused misrepresented his company and used fake affiliations to gain the victim’s trust before misappropriating funds.
