Bhubaneswar: The Special Crime Unit of the Bhubaneswar-Cuttack Commissionerate Police on Monday arrested a fraudster and seized two mobile phones and passbooks of different banks.
The arrested accused has been identified as Atmajyoti Nayak, who has been operating under the guise of the Imperial Investor and targeted unsuspecting individuals with promises of high returns on their investments. Through deceitful tactics and false representations through social media, Nayak convinced numerous investors to entrust their hard-earned money to him, only to betray their trust and misappropriate their funds for personal gain.
According to an official press release of the Commissionerate Police, on February 2 this year, they had registered a case of fraud on the written report of a lady from the Chintamaniswar area in Bhubaneswar. In her report, the complainant mentioned that she was attracted by an advertisement in social media regarding a company, Imperial Investor, and she along with nine other persons invested a sum of Rs 1.11 crore. The company assured them to return 10% to 15% interest every month on the principal money. Being allured she along with others invested their hard-earned money in the company. Initially, the complainant got back some interest but later the accused didn’t return the money and absconded.
Acting on the complaint, the Special Crime Unit started an investigation which revealed a pattern of fraudulent activities perpetrated by Nayak, a resident of Palashapalli under Airport police limits in Bhubaneswar. The fraudster opened a company in the name of Imperial Investor for which he didn’t register with the Registrar of the Company, Cuttack. Further, though the fraudster was running a Non-Banking Financial Institution, he did not get any permission from RBI, Bhubaneswar. The investigation revealed that for the last two years, the fraudster was running a fraudulent business and the money that was taken from the investors was used by him in share trading for his gain.
“The arrest of Atmajyoti Nayak marks a significant milestone in our efforts to hold perpetrators of financial fraud accountable for their actions and to seek justice for the victims affected by their schemes. We are committed to pursuing justice in this case and ensuring that Nayak is held accountable for his crimes to the fullest extent of the law,” the release read.
The Commissionerate Police has urged people who may have fallen victim to the fraudulent schemes of Atmajyoti Nayak or the Imperial Investor to come forward and report their experiences to the Special Crime Unit.
