Bhubaneswar: Odisha Crime Branch has busted a fake investment racket and arrested 24 persons in connection with the crime. According to a press release issued by the Crime Branch on Wednesday, cyber frauds swindled Rs 6.28 crore from unsuspecting people inviting investments under a fake Whatsapp group called ‘Kotak Investment Club’.
After the investors deposited their money with the group, the cyber criminals removed them from the WhatsApp group and withdraw the money. They collected the money using 100 over bank accounts.
On receiving complaints from the victims, the Crime Branch formed seven teams to crack the inter-state cyber criminal’s group. So far, the Crime Branch arrested nine accused from Tamil Nadu, eight from Gujarat and seven from Rajasthan.
Crime Branch ADG Vinaytosh Mishra said, “The arrested persons are the foot soldiers of the cyber fraud group. After duping people, the kingpin of the group withdrew the money from the bank accounts and passed on a commission to these foot soldiers.”
Since the group was operated pan India, it was very difficult for the investigating agencies to nab them. Nevertheless, they arrested 24 persons and further investigation into the matter is on.
During the investigation, Crime Branch froze Rs 16.85 lakh from the several bank accounts of the accused and so far, returned Rs 6.8 lakh to the victims.
