Bhubaneswar: Odisha Crime Branch has reportedly arrested a resident of Andhra Pradesh for his involvement in the Rs 6,16,37,084 investment fraud in the state.
The accused have been identified as Vedgiri Srinivasrao of Srinagar in Andhra Pradesh. Different incriminating materials such as mobile phones, SIMs, etc were also seized from the possession of Srinivasrao.
Odisha Crime Branch Cyber Police has registered and are investigating a case of online investment fraud involving a fake trading platform. In the present case, unidentified cyber fraudsters on 07.05.2024 contacted the complainant who is a businessman through Facebook (one lady) claiming to work as a Software developer with IBM, Hong Kong.
She then persuaded him to communicate via WhatsApp in phone. She informed that her IBM team was establishing a data centre at ZAIF for digital currency exchange. She convinced him to open trading account with ZAIF and do trading.
From 23.05.2024 to 24.06.2024, he had transferred a total amount of Rs 6,16,37,084 to different accounts as instructed by Sanjana Srinivasan. On 30.05.2024 his trading account showed a negative balance of USDT 11,292. When he informed this fact to Sanjana, she advised to invest more money to recover the losses. Then he continued trading and his account showed significant profit.
During his trading, he faced profit and loss frequently which were only being shown in his trading account. When he wanted to withdraw money the customer care of ZAIF asked him to pay 20% of the balance amount. So he deposited Rs 89,00,000 but the risk control team refused to release his funds with one pretext to other. Then he realized that he have been a victim of well-planned conspiracy by unknown cyber fraudsters, ZAIF trading Company and their associates. So he lodged FIR at Cyber Crime PS.
The investigating team lead by Inspector Rajendra Bhola after analyzing the transaction details and working upon other digital evidences had cracked down at Bhubaneswar and arrested Srinivasrao and forwarded him to SDJM, Berhampur U/s 419/ 420/ 465/ 467/ 468/ 471/ 120-B/ 34 IPC Sec-66-C/66-D IT Act.
Previously in this case Investigating Officer has arrested six accused. Out of six five from Surat and one from Ludhiana Punjab state.
Meanwhile, the Crime Branch requested the citizens to beware of unsolicited investment offers on social media and messaging apps—always verify before investing to avoid falling victim to cyber frauds and to report such matters at 1930 Cyber helpline or at nearest police stations.
