Bhubaneswar, April 24: The Odisha Crime Branch Cyber Police arrested one Vinay Kumar Sharma, a resident of New Delhi, in connection with 2,06,07,500 online investment fraud case.
The Odisha Crime Branch Cyber Police has successfully arrested one accused person involved in a major online investment fraud case in which the complainant was cheated of Rs 2,06,07,500 through a fake online trading platform.
According to a Crime Branch release, the victim in the fraud case was contacted by unidentified cyber fraudsters through WhatsApp on December 23, 2024 and was automatically added to a WhatsApp group. The fraudsters, posing as financial experts, falsely represented one individual as a fund manager of a reputed company and lured the complainant with promises of high returns on investments. The group regularly shared free stock market tips and daily technical analysis of NIFTY, thereby gaining the complainant’s trust.
Believing the representations to be genuine, the complainant transferred a total amount of 2,06,07,500 from his three different bank accounts to five different beneficiary accounts through 54 transactions during the period from December 23, 2024 to March 24, 2025, as directed by the fraudsters.
When the complainant attempted to withdraw the so-called investment returns, the fraudsters, posing as the “risk control team,” repeatedly refused to release the funds on various false pretexts. Realising that he had fallen victim to a well-orchestrated cyber fraud conspiracy, the complainant lodged an FIR at Cyber Crime Police Station.
During investigation, the team led by Inspector Tapan Kumar Pradhan conducted an in-depth analysis of financial transactions and digital evidence. Based on credible leads, the team carried out a successful operation at Dwarka and identified one of the perpetrators as Vinay Kumar Sharma, 56, son of Krishan Chand Sharma, resident of C-4C/43, Pocket-14, Near Janak Puri Fire Station, Janak Puri, West Delhi, Delhi.
The accused was apprehended, and various incriminating materials including mobile phones, SIM cards, Aadhaar cards, PAN cards, and other evidence were seized from his possession.
He has been brought on transit remand and will be produced before the Hon’ble Court of SDJM, Bhubaneswar for further legal action.
