Bhubaneswar, Aug 24: The Odisha Crime Branch has arrested two individuals from Ludhiana (Punjab) and Guntur (Andhra Pradesh) in connection with separate investment fraud cases that duped victims of over ₹7 crore.
In the first case, Bittu Kumar (41) from Ludhiana was arrested for allegedly defrauding an Odisha-based investor of ₹6.16 crore through a fake digital currency investment scheme.
According to the Crime Branch, the victim was lured by promises of high returns in digital currency exchange trading. He transferred the amount to bank accounts provided by the fraudsters but discovered the scam when his attempts to withdraw the funds failed.
Following a complaint lodged with the Cyber Crime Unit, investigators tracked Kumar to Ludhiana. A team apprehended him and brought him to Odisha on transit remand after presenting him in a Ludhiana court. Police seized mobile phones, SIM cards, and debit cards during the arrest.
Kumar has been charged under IPC Sections 419, 420, 465, 467, 468, 471, 120(B), 34, and Sections 66-C and 66-D of the IT Act, 2000. He will be produced before the Sub-Divisional Judicial Magistrate (SDJM), Berhampur.
In the second case, another Odisha-based victim lost over ₹1 crore in a similar online trading scam. The accused, Sudheer Kumar (33) from Guntur, allegedly convinced the victim to invest in high-return online trading schemes. After the victim was unable to withdraw his funds, he reported the incident to the Crime Branch.
An investigation resulted in Kumar’s arrest in Guntur. Authorities seized mobile phones, SIM cards, bank passbooks, cheques, and other documents from his possession. He was brought to Odisha on transit remand after being presented in a local court.
Sudheer Kumar has been booked under Sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), 61(2), 3(5) of the Bharatiya Nyaya Sanhita (BNS) and Sections 66-C and 66-D of the IT Act, 2000. He will be produced before the SDJM court in Mayurbhanj.
The Crime Branch continues its crackdown on cyber fraud and urges the public to remain cautious about online investment schemes.
