Bhubaneswar: The Crime Branch of Odisha Police has arrested a 31-year-old man from Bihar in connection with a massive online investment fraud involving over ₹2.06 crore. The arrest was made in Begusarai district following a detailed investigation into a fake trading platform scam operated through WhatsApp.
According to an official press release issued by the Criminal Investigation Department (CID), Crime Branch Cyber Police registered a case under Odisha State CID, Crime Branch Cyber Police Station Case No. 11 dated March 28, 2025. The case has been registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and Sections 66-C and 66-D of the Information Technology Act, 2000.
The fraud dates back to December 23, 2024, when the complainant was contacted by unidentified cyber fraudsters via WhatsApp and automatically added to a group. The group members claimed to provide free stock market advice and daily technical analysis on NIFTY. One individual posed as a fund manager from a reputed company and persuaded the complainant to invest money through a fake online trading platform.
Believing the representations, the victim transferred a total sum of ₹2,06,07,500 from three different bank accounts into five separate accounts through 54 transactions between December 23, 2024, and March 24, 2025.
However, when the complainant attempted to withdraw the returns shown on the platform, he was allegedly stopped by a so-called “risk control team” on various pretexts. Realizing he had been duped in a well-orchestrated 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 analyzing financial transaction trails and digital evidence, the team traced one of the perpetrators to Begusarai, Bihar.
The accused has been identified as Prins Raj (31), son of Devu Singh, a resident of Ward No. 21, Ratanapur in Begusarai district. During the operation, police seized several incriminating materials from his possession, including mobile phones and SIM cards allegedly used in the commission of the crime.
He was produced before the Judicial Magistrate First Class (JMFC), Begusarai, under multiple sections of the BNS and the Information Technology Act. The accused has been brought on transit remand and 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 remain cautious while investing through online platforms, especially those promoted via social media groups and messaging apps, and to verify the authenticity of financial advisors before transferring funds.
