Odisha Crime Branch Arrests Bihar Man in ₹2.06 Crore Online Investment Fraud

Bhubaneswar: The Crime Branch of Odisha Police has arrested a 31-year-old man from Bihar in connection with an online investment fraud amounting to over ₹2.06 crore. The accused was apprehended from Begusarai district following a detailed probe into a fake trading platform scam operated through WhatsApp.

According to an official release issued by the Criminal Investigation Department (CID), the case was registered at the Odisha State CID, Crime Branch Cyber Police Station on March 28, 2025, under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and Sections 66-C and 66-D of the Information Technology Act, 2000.

The fraud reportedly began on December 23, 2024, when the complainant was contacted by unidentified cyber fraudsters via WhatsApp and automatically added to a group offering free stock market advice and daily technical analysis on NIFTY. One of the group members allegedly posed as a fund manager from a reputed firm and convinced the victim to invest through a fake online trading platform.

Trusting the representations made in the group, the complainant transferred a total of ₹2,06,07,500 from three separate bank accounts into five different accounts through 54 transactions between December 23, 2024, and March 24, 2025.

When the victim later attempted to withdraw the profits displayed on the platform, he was reportedly blocked by a so-called “risk control team” on various pretexts. Realising that he had fallen victim to a well-planned cyber fraud, he lodged an FIR at the Cyber Crime Police Station.

The investigation was led by Inspector Tapan Kumar Pradhan of the Crime Branch. After analysing financial transaction trails and digital evidence, the team traced one of the accused to Begusarai in Bihar.

The arrested individual has been identified as Prins Raj (31), son of Devu Singh, a resident of Ward No. 21, Ratanapur, Begusarai district. During the operation, police seized mobile phones, SIM cards, and other incriminating materials allegedly used in the commission of the crime.

He was produced before the Judicial Magistrate First Class (JMFC), Begusarai, and has been brought on transit remand. The accused will be forwarded to the court of the Sub-Divisional Judicial Magistrate (SDJM), Bhubaneswar, for further legal proceedings.

The Crime Branch has reiterated its advisory urging citizens to exercise caution while investing through online platforms, particularly those promoted via social media groups and messaging applications. It has advised investors to verify the authenticity of financial advisors and platforms before transferring funds.