Bhubaneswar: The Commissionerate Police of Bhubaneswar-Cuttack on Tuesday arrested a 24-year-old man from Telangana for allegedly cheating a retired couple from the city out of Rs 23.39 lakh by promising high returns on investment.
The accused, identified as Kathi Karthik Kumar of Karimnagar, was apprehended following a cyber fraud investigation.
According to police, the victims, Sabyasachi Prahraj and his wife, were planning to set up a nursing school post-retirement. They came across an advertisement for a forex trading platform on Facebook and established contact with the accused. Over a period of time, they transferred Rs 23.39 lakh to his account via online transactions.
Realising they had been defrauded, the couple filed a complaint with the Bhubaneswar police. Investigation revealed that the account used by the accused was part of a wider network collecting money through fraudulent means.
Following raids in Telangana, Kumar was arrested. Police said he was involved in cyber financial fraud, operated virtual current accounts, and impersonated legitimate business entities to scam unsuspecting individuals.
Further investigation is underway.
