In a significant crackdown on financial fraud targeting vulnerable senior citizens, Bhubaneswar police have apprehended two individuals accused of orchestrating an elaborate investment scam that cost an elderly man a staggering ₹45 lakh.
The Elaborate Con Game
The accused, identified as Santosh Kumar Patra and Srikant Parida, allegedly convinced their 72-year-old victim to invest substantial amounts in what they promised would be highly profitable business ventures. Over several months, the duo systematically extracted money from the senior citizen through false promises and fabricated returns.
How the Scam Unfolded
According to police investigations, the fraudsters employed classic confidence tricks:
- Building trust through regular interactions with the elderly victim
- Presenting fake investment opportunities with guaranteed high returns
- Providing false documentation and regular updates to maintain the illusion
- Creating a sense of urgency to encourage larger investments
Police Investigation Breakthrough
The Economic Offences Wing of Bhubaneswar police launched a thorough investigation following a complaint from the victim's family. Through digital forensics and financial trail analysis, investigators were able to trace the money flow and identify the perpetrators.
"This case highlights the growing trend of financial fraud targeting elderly citizens who are often more trusting and less technologically savvy," stated a senior police official involved in the investigation.
Protecting Senior Citizens
The arrest serves as a crucial reminder for families with elderly members:
- Regularly discuss financial matters with senior family members
- Verify investment opportunities through registered financial advisors
- Be cautious of unsolicited investment offers
- Monitor unusual banking transactions
Police have recovered significant evidence from the accused and are investigating possible connections to other similar fraud cases in the region. The two arrested individuals have been remanded to police custody for further interrogation.
