Bhubaneswar: The Odisha Crime Branch busted a cyber fraud network and arrested 24 persons involved in a scheme that defrauded investors of Rs 6.28 crore.

According to reports, the accused ran a WhatsApp group namely 'Kotak Investment Club' to lure investors with promises of high returns. Once they received the funds, the fraudsters would remove investors from the group and quickly transfer the money across more than 100 bank accounts to evade detection, making withdrawals within two to three days.

The investigation began after a complaint was filed by one of the victims. In response, the Crime Branch set up seven special teams to track down the cybercriminals. These teams apprehended nine individuals in Tamil Nadu, eight in Gujarat, and seven in Rajasthan.

Crime Branch ADG Vinaytosh Mishra said that those arrested are not the masterminds but rather foot soldiers used to manage and launder the stolen money. "After defrauding the investors, the masterminds transferred the funds to these foot soldiers' bank accounts, who then withdrew the money, keeping a small commission," the police official said.

By tracking live locations, Crime Branch officers were able to locate and apprehend the suspects, Mishra added.

So far, the Crime Branch has successfully frozen Rs 16.85 lakh in various accounts linked to the accused and returned Rs 6.8 lakh to the victims.