Bhubaneswar: The Odisha Crime Branch has arrested a Delhi-based person in connection with a major cyber fraud case where a complainant was cheated of Rs 2.06 crore through a fake online investment platform. 

The accused person has been identified as Vinay Kumar Sharma (56), a resident of Janakpuri area, West Delhi, Delhi. 

The case was registered at the Cyber Crime Police Station under sections 318(4)/319(2)/336(2)/336(3)/338/340(2)/61(2)/3(5) of BNS read with Sections 66-C/66-D of the Information Technology Act, 2000, Odisha Crime Branch said in a release on Friday.

WhatsApp Group lure and false promises of high returns

According to Odisha Police, the victim was contacted via WhatsApp in December 2024 and added to a group where fraudsters posed as financial experts. They shared stock tips and technical analysis of NIFTY, falsely projecting credibility and luring the complainant with promises of high returns.

Rs 2 crore transferred through 54 transactions

Trusting the scheme, the complainant transferred Rs 2,06,07,500 from three bank accounts to five beneficiary accounts through 54 transactions between December 2024 and March 2025. When the victim later tried to withdraw returns, the fraudsters—posing as a “risk control team”—blocked the request on false grounds.

Accused tracked down in Delhi’s Dwarka

Following an in-depth probe involving financial trail analysis and digital evidence, a team led by Inspector Tapan Kumar Pradhan traced one accused to Dwarka in New Delhi. The accused was apprehended during a targeted operation.

Devices, IDs seized; accused produced in court

Police seized mobile phones, SIM cards, Aadhaar and PAN cards, and other incriminating materials from his possession. The accused was produced before the Judicial Magistrate First Class-II, Dwarka Court and later brought on transit remand. He will be presented before the SDJM court in Bhubaneswar for further legal proceedings.

Public advisory issued against online investment scams

The Crime Branch has urged citizens to remain cautious of unsolicited investment offers on social media and messaging platforms. People are advised to verify the authenticity of trading platforms before investing and report suspicious activities to the cyber helpline (1930) or the nearest police station.