Odisha Cyber Police Nab Trio in Major Stock Trading Fraud Case
In a significant crackdown on financial cyber crime, the cyber police station in Bhubaneswar has arrested three individuals on Thursday for their alleged involvement in a sophisticated investment fraud scheme. The accused are charged with duping an investor of a staggering Rs 94 lakh by making false promises of doubling his money through stock trading within a short timeframe.
Details of the Arrested Accused
The police have identified the arrested men as Lala Basantara (21 years old), Manas Kumar Sahu (30 years old), and Chinmay Sahoo (19 years old). All three are residents of Reamal, located in Odisha's Deogarh district. Their arrest marks a crucial development in an ongoing investigation into organized cyber financial crimes.
Background of the Fraud Case
According to official police statements, a formal case was registered on December 5, 2025, following a detailed complaint filed by the victim. The complainant reported a substantial financial loss of Rs 94.62 lakh after falling prey to what appeared to be a lucrative investment opportunity.
Investigations conducted by the cyber crime unit have uncovered that the three arrested individuals were not operating in isolation. They were active members of a larger inter-state cyber crime network that has been systematically targeting unsuspecting investors across regions. This network specializes in offering unusually high returns on investments to lure victims into their traps.
Modus Operandi of the Scammers
The fraudulent operation began when the scammers initially contacted the victim through a popular social media platform. They presented themselves as legitimate stock trading experts, enticing the investor with promises of exceptionally high returns on stock market investments.
To establish credibility and build trust, the fraudsters employed a clever strategy. They initially paid the victim small profits on his early investments, creating an illusion of legitimacy and profitability. Encouraged by these early successes and the prospect of substantial gains, the victim gradually increased his investment, eventually pouring over Rs 94 lakh into the scheme.
The Final Deception and Police Action
The scam reached its climax when the victim's online investment wallet showed nearly double the amount he had invested within weeks. However, when he attempted to withdraw these apparent profits, the fraudsters immediately blocked the transaction. They then demanded an additional deposit of approximately 30% of the wallet's total value, claiming this was necessary to enable the withdrawal process.
It was at this point that the victim realized he had been systematically cheated. He promptly approached the Bhubaneswar cyber police last month, providing detailed information and evidence. This complaint triggered a thorough investigation that ultimately led to the identification and arrest of the three accused individuals.
Ongoing Investigation and Recovery Efforts
A senior police officer involved in the case revealed that substantial amounts of money were traced to the bank accounts of the arrested individuals. The investigation team is currently working diligently to track down other members of the criminal gang and recover the defrauded funds.
The officer emphasized that this case highlights the growing sophistication of cyber financial crimes in India, particularly those targeting investors seeking quick returns. Police authorities have issued warnings to the public about such fraudulent schemes and advised extreme caution when approached with investment opportunities promising unrealistically high returns in short periods.
This arrest serves as a reminder of the importance of verifying investment platforms and consulting financial experts before committing substantial funds to any trading scheme, especially those promoted through social media channels.
