Cuttack/Bhubaneswar: The Cyber Crime unit of the Odisha Crime Branch has arrested two persons in connection with two separate cases of online investment fraud. Police said the combined amount involved in the two cases is estimated to be over ₹2 crore. The accused were detained from different states and brought to Cuttack, where they were produced before the court as part of due legal process.
Fake Trading Platforms Target Jajpur Victim
Officials said the first case pertains to the Chandikhole area in Jajpur district. In this instance, the victim was induced to invest in fake online trading platforms on the promise of high returns. The investigation revealed that more than ₹73.56 lakh was transferred in phases. It was later established that the digital platforms used for the transactions were not linked to any authorised financial institution or recognised stock exchange. Following a complaint lodged by the victim in September 2025, the Cyber Crime unit initiated technical and financial analysis.
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Based on scrutiny of digital transaction records, bank accounts, mobile numbers and online communication channels, the police identified the accused and arrested him from Uttarakhand. Officials said several bank accounts and digital wallets used in the fraud have been frozen to prevent further movement of funds.
Bhubaneswar Case Involves Fake IPO and OTC Investments
The second case relates to Bhubaneswar, where another victim was allegedly cheated of around ₹1.40 crore after being persuaded to invest in fake IPO and over-the-counter (OTC) trading platforms. Police said the victim was contacted through online channels and assured that the investment opportunities were safe and highly profitable. The investigation found that the investment options, dashboards and profit figures shown to the victim were entirely fabricated.
According to the Cyber Crime unit, the accused in this case was arrested from the Thane region in Maharashtra. Both accused were brought to Cuttack on transit remand and produced before the court. Police indicated that the investigation is ongoing to determine whether additional associates, mule accounts or organised networks are involved in the two cases.
Professionally Designed Platforms Used to Gain Trust
Officials said the fake investment platforms used in both cases were designed in a professional manner to resemble genuine trading websites and investment applications. Victims were shown fake dashboards, fabricated profits and regular updates to build confidence. In some instances, nominal “returns” were displayed at an early stage to encourage victims to invest larger amounts.
Digital Forensics and Public Advisory
Police said mobile phones, laptops and other digital storage devices seized from the accused are being subjected to forensic examination. Investigators are also analysing banking transactions, IP logs and other digital trails to identify further links connected to the fraud network.
The Cyber Crime unit has advised the public to remain cautious about investment offers circulated through social media, messaging applications or unsolicited calls. Officials warned that online schemes promising unusually high returns are often used as tools for financial fraud.
According to the police, complaints related to online financial fraud can be registered through the National Cyber Crime Reporting Portal or at the nearest cyber police station. With digital transactions continuing to rise, authorities said strict monitoring is being maintained and action against those involved in such offences will continue.
