Cuttack: Based on a written complaint filed at the Cyber Crime Police Station, the Crime Branch’s Cyber Crime unit arrested one person for committing online trading investment fraud worth ₹47.2 lakh. 

In his complaint lodged on May 21, 2024, the complainant from Cuttack stated some unknown cyber fraudsters lured him to invest in IPO and OTC trading on pretext of higher return. In this process, the complainant transferred ₹47.2 lakh. 

The accused convinced the complainant to invest more. But when the complainant made up his mind and attempted to withdraw the invested money, the accused demanded additional money. Later they refused to release his funds. Realising being a victim of fraud, the man lodged a FIR.

Following an investigation led by IO Deputy SP Kalpana Sahu and examining the transaction details and other digital evidences, the accused, Syad Iqbal Hussain from Hyderabad in Telangana was zeroed down. 

Hussain and his associates represented themselves as trade analysts and defrauded the complainant.

The accused person has been brought on transit remand to Odisha and was forwarded to the Court of JMFC-III Cuttack today. 

The investigating team seized various incriminating articles including a mobile phone, SIM cards, screenshots of chats in WhatsApp, aadhar cards etc. Several bank accounts of the fraudsters have also been frozen.

Further investigation is under progress and involvement of more persons cannot be ruled out.

In this connecton, Crime Branch Cyber PS Case No- 26 dtd.21.05.2024 U/s- 419/420/465/467/468/471/120(B)/34 IPC r/w sec 66-C/ 66-D of Information Technology Act, 2000 has been registered.