Bhubaneswar, Oct 30: In a significant victory against cybercrime, the Odisha Crime Branch has dismantled a fake investment racket and arrested 24 individuals involved in a fraud scheme that swindled ₹6.28 crore from unsuspecting investors. According to a press release from the Crime Branch on Wednesday, the fraudsters operated under a fake WhatsApp group named ‘Kotak Investment Club,’ enticing victims to invest their money.
Once they received the funds, the criminals promptly removed the investors from the WhatsApp group and withdrew the money within two to three days, distributing it across over 100 different bank accounts.
Following a complaint from one of the victims, the Crime Branch mobilized seven teams to tackle this interstate cyber fraud ring. The operation led to the arrest of nine suspects in Tamil Nadu, eight in Gujarat, and seven in Rajasthan.
Crime Branch ADG Vinaytosh Mishra explained that the arrested individuals are not the masterminds but rather “foot soldiers.” The kingpin of the operation distributed the stolen money to these foot soldiers and paid them a commission for their role in the scam. Mishra noted the challenges posed by the group’s nationwide operations but emphasized that their teams successfully tracked and apprehended the suspects. Further investigations are ongoing.