BHUBANESWAR: The Economic Offences Wing (EOW) of Odisha Police has arrested three individuals accused of defrauding investors of over Rs 2 crore through a deceptive online trading scheme. A senior EOW official confirmed the arrests on Friday.
The accused—Bikram Keshari Sahu from Patia, Dinesh Moharana from Saubhagya Nagar, and Sarbanam Sabat from Shaheed Nagar—were apprehended following a complaint filed by Sasadhar Mitra, a resident of Chandni Chowk, Cuttack.
In his complaint, Mitra alleged that during 2023, the accused convinced him and other investors to invest in online trading plans launched by BITOX and its associated entities such as AEXN Global, Cars Corner, and Eclat Coin. The fraudsters promised high returns in a short period to lure investors.
The EOW official stated that Mitra invested Rs 41,30,200, while other investors, including Jayanti Panigrahi and Sukhamay Das, collectively invested over Rs 1.28 crore. After collecting the funds, the accused shut down the company websites and mobile applications, disappearing without paying any returns to the investors.
During the investigation, it was revealed that Bikram, along with Dinesh and Sarbanam, actively promoted the online trading schemes, assuring investors of double to triple returns and a refund of the principal amount within three months.
The accused also held promotional events across Bhubaneswar, Cuttack, and several locations in Himachal Pradesh, West Bengal, and Andhra Pradesh to attract more investors.
Reports indicate that the fraudsters collected money not only through their personal bank accounts but also through accounts held in the names of firms such as BK Constructions and Consultancy Private Limited in banks including Axis Bank, HDFC Bank, and State Bank of India.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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