Bhubaneswar, Mar 30: The Crime Branch of Odisha Police has arrested seven inter-state cyber fraudsters for duping a senior Biju Janata Dal (BJD) MLA and former minister of Rs 1.4 crore on the pretext of high returns against investment in IPOs and OTC trading.

The accused fraudsters were apprehended following multiple raids by the crime branch sleuths at different locations in Karnataka and Tamil Nadu between March 25 till March 28.

The accused were identified as Jyothi Raju (39), Raju C (34), Ismail Rahaid (27), Vasim (28) of Karnataka, and Pattaraja S (34), Jegatheesh Radhakrishnan (40), E Sakthikumaravel (50) of Tamil Nadu.

The BJD MLA who fell prey to the cyber fraudsters lodged a complaint at the Cyber Crime Police Station of crime branch on January 13, 2025. As per sources, the senior BJD leader came into contact with the fraudsters through a message on social media a couple of months ago.

“The accused and their associates posing as trade analysts lured the complainant with promises of high returns through investments in IPOs, shares and OTC trading. Persuaded by their assurances, he began trading and, between November 13, 2024, and January 1, 2025, transferred a total of Rs 1,40,00,000. Despite initial losses, the fraudsters convinced him to invest further. However, when he attempted to withdraw his funds, they demanded additional payments and refused to release his money,” the Crime Branch said in its press statement released on Sunday.

The former minister soon realised that he had been trapped by the fraudsters and filed a complaint with the crime branch.

Based on his complaint, the police registered a case under sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), 61(2), and 3(5) of the BNS, and 66-C, 66-D of the Information Technology Act, 2000 and arrested the accused. The accused persons were brought on transit remand and produced before the court in Odisha on Sunday.

The Crime Branch sources further noted that various incriminating items, including mobile phones, SIM cards, WhatsApp chat screenshots, Aadhaar cards, PAN cards, bank passbooks, cheque books, and debit cards have been seized during the raids.

The Investigating Officer has also frozen multiple bank accounts linked to the fraudsters. As per reports, the cops have managed to freeze Rs 15 lakh in said bank accounts while a total of Rs 4 lakh has so far been recovered. The crime branch further added that efforts are on for the further recovery of the rest amount.

--IANS

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