Cosmetics Trader from West Bengal Arrested in Major Online Investment Fraud Case
In a significant breakthrough, the cyber crime police unit of Bhubaneswar has apprehended a cosmetics trader from Hooghly district in West Bengal for his alleged involvement in a sophisticated online investment scam. The elaborate scheme resulted in a senior citizen being defrauded of a staggering sum exceeding Rs 50 lakh during the year 2024.
Details of the Arrest and Investigation
The accused, identified as 46-year-old Arabinda Paul, was taken into custody on Sunday following a meticulous investigation. Authorities revealed that a portion of the illicit funds had been traced directly to his personal bank account, providing crucial evidence for the arrest. Police officials have confirmed that intensive efforts are currently underway to identify and locate other members of the criminal network involved in this racket.
How the Elaborate Scam Unfolded
The victim, a 67-year-old man, formally lodged a complaint on January 29, 2025, detailing how he was systematically deceived out of Rs 50.16 lakh. The fraud began in 2024 when the senior citizen encountered an enticing online trading platform advertised on social media. On October 8, 2024, he was invited to join a dedicated WhatsApp group, where he was instructed to open a trading account with promises of exceptionally high and rapid financial returns.
Assistant Commissioner of Police Suchismita Das explained the modus operandi: "The victim was lured by offers of substantial profits. Between October and November 2024, he proceeded to transfer large sums of money to multiple bank accounts without conducting any due diligence on the credibility of the individuals posing as traders."
The Deceptive Tactics Employed by the Fraudsters
When the elderly investor later attempted to withdraw his supposed earnings, the perpetrators employed a series of delaying tactics. They provided various excuses and eventually ceased all communication entirely. The police investigation uncovered that the criminal gang had created a completely fabricated e-wallet interface. This fake platform displayed artificially inflated profit figures to maintain the illusion of a legitimate investment and mislead the victim into a false sense of security.
Even when the victim sought to access his funds, he was persuaded to wait patiently and was further encouraged to inject additional capital into the scheme, deepening his financial losses.
Police Action and Ongoing Efforts
"After realizing he had been cheated, the victim approached our cyber crime unit in January of last year," stated ACP Das. "Our team conducted a thorough analysis of the complex bank transaction trails and meticulously traced the digital footprints left by the accused. This led to the successful arrest of Arabinda Paul. Our investigation remains active as we work to identify and apprehend the remaining accomplices involved in this organized gang."
The case highlights the growing threat of online financial fraud, particularly schemes targeting vulnerable individuals such as senior citizens with promises of unrealistic investment returns.
