The Odisha Police’s Crime Branch has arrested a man from Ludhiana, Punjab, in connection with a major investment fraud case. Bittu Kumar, 41, was apprehended for allegedly defrauding a citizen of over Rs 6.16 crore.
The victim had filed a complaint on July 9, 2024, stating that he was scammed by cyber fraudsters who promised high returns on investments in digital currency, IPOs, and over-the-counter (OTC) trading. The victim was convinced to transfer Rs 6,16,37,084. When he tried to withdraw his funds, the fraudsters demanded more money and refused to release his initial investment.
An investigative team, led by DySP Ratnaprava Satpathy, used digital evidence and analyzed transaction details to trace the suspect to Ludhiana. Kumar was arrested from his residence, and police seized several items, including mobile phones, SIM cards, and debit cards.
The accused was presented before a court in Ludhiana, and after obtaining a transit remand, he was brought to Cuttack. He will be presented before the SDJM Court in Berhampur on charges of cheating, forgery, and criminal conspiracy under the Indian Penal Code and the Information Technology Act.
