Bhubaneswar, February 28: The Crime Branch of Odisha Police has arrested a 31-year-old cyber criminal from Bihar in connection with an investment fraud amounting to ₹2.06 crore. A senior police officer provided this information on Friday.
The accused has been identified as Prince Raj, a resident of Ratanapur in Begusarai district, Bihar. He was apprehended on March 28, 2025, based on a complaint filed at the Crime Branch Cyber Police Station in Bhubaneswar. The complaint was lodged by a local businessman.
According to the businessman, on December 23, 2024, unknown cyber fraudsters contacted him via the popular social media platform WhatsApp. Subsequently, he was added to a WhatsApp group without his consent.
In the group, an individual posed as a fund manager from a reputed company and offered assistance, convincing the businessman to invest in the stock market through a fake trading platform.
The group provided free stock market advice and daily technical analysis of Nifty.
Sources from the Crime Branch revealed that between December 23, 2024, and March 24, 2025, the businessman transferred a total of ₹2,06,07,500 in 54 installments from three different bank accounts to five accounts linked to the cyber criminals.
A senior officer stated, “When the victim attempted to withdraw his money, the so-called ‘risk control team’ made various excuses to deny the release of funds. It was then that he realized he had fallen victim to a well-planned cyber scam. Following this, he filed a First Information Report at the Cyber Crime Police Station.”
Based on the complaint, police initiated an investigation and arrested Raj on Wednesday night in Begusarai, Bihar. Of the total ₹2.06 crore defrauded, ₹40 lakh was transferred to Raj’s account.
In a separate cyber fraud case, the Crime Branch also arrested Himanshu Prasad Karna and his wife Sailendri Karna from Rajkishorepada in Angul district, Odisha, for their involvement in an investment scam worth ₹1.55 crore.
According to the complaint, unknown cyber fraudsters initially contacted the victim via social media and later added him to a WhatsApp group called ‘Stock Market Pioneers.’ They sent a link, luring him to invest in a fake online trading platform with promises of high and guaranteed returns.
Deceived by false assurances, the victim transferred a total of ₹1,55,66,000 in several installments to seven different bank accounts as directed by the fraudsters.
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 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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