Odisha Crime Branch dismantles major fake investment racket, 24 arrested

Bhubaneswar, Oct 30: In a significant breakthrough in the fight against cyber crime, the Odisha Crime Branch has dismantled a fraudulent investment scheme and apprehended 24 individuals involved in a scam that defrauded victims of ₹6.28 crore. According to a statement released by the Crime Branch on Wednesday, the scammers operated through a deceptive WhatsApp group called "Kotak Investment Club," luring unsuspecting investors.

Once investors transferred their funds, the perpetrators would remove them from the group and quickly withdraw the stolen money, dispersing it across more than 100 bank accounts within just a few days.

Following a complaint from a victim, the Crime Branch launched an operation, assembling seven teams to tackle the inter-state fraud ring. They successfully detained nine suspects in Tamil Nadu, eight in Gujarat, and seven in Rajasthan.

Crime Branch ADG Vinaytosh Mishra explained that those arrested are not the masterminds but rather lower-level operatives, with the main fraudster orchestrating the scheme and distributing the money to them. Despite the challenges posed by the group's nationwide operation, authorities were able to track and apprehend them using their live locations. Mishra noted that further investigations are ongoing.

The Crime Branch has also managed to freeze ₹16.85 lakh from various accounts linked to the suspects and has returned ₹6.8 lakh to the victims as part of the recovery efforts.