Bhubaneswar: The Odisha Police on Friday arrested a 30-year-old man from Maharashtra for allegedly duping a city-based investor of over ₹26 lakh by promising high returns through a fake trading platform.
The accused, identified as Savyasachi Pisolkar (30), a resident of Nashik district in Maharashtra, was apprehended by the Cyber Crime Unit following a complaint filed by Shakti Shankar Panda (41), a resident of Bhubaneswar.
According to police, Panda came across a trading application through a WhatsApp group that claimed to offer lucrative profits from investments in IPOs and block trades. Convinced by the assurances, he transferred ₹26.21 lakh to bank accounts linked to Pisolkar and his associates.
However, after the transactions, Panda neither received any returns nor was he able to recover his invested money. Realizing he had been cheated, he lodged a complaint with the Cyber Crime police station.
Based on the complaint, a case was registered, and Pisolkar was traced and arrested from Maharashtra. The police said further investigation is underway to identify other members of the fraud network and trace the money trail.
