Bhubaneswar: The Cyber Crime Unit of Odisha Crime Branch arrested three directors of two fintech firms in connection with fraud in cryptocurrency investment. The accused were allegedly running fintech companies and were involved in cyber frauds by facilitating the quick transfer of money to the virtual accounts of cybercriminals.
The arrested persons have been identified as Sumit Kumar Das and Amiya Ranjan Satpathy of Bargarh and Sidharth Satpathy of Bhilai in Chhattisgarh. Sumit and Amiya were directors of a fintech firm PayInc, while Sidharth was the director of Fynpe.
The arrests were made based on a complaint by a victim who reported that he had received a WhatsApp call from a lady suggesting him to subscribe to a YouTube channel link for earning money on May 5 last year. Subsequently, she gave him a Telegram App contact for a chat. Following this, the victim frequently received messages through Telegram enticing him to invest money for high returns. The victim then started paying the money believing that he was making investments and was trapped by the fraudsters.
The complainant deposited more than Rs 54.75 lakh between May 6 last year and May 23 to get high returns. When the fraudsters pursued him for more money without any return, the complainant reported the matter at the Cyber Police Station of the Odisha Crime Branch.
