The Odisha Crime Branch Cyber Police arrested a Delhi resident for orchestrating a massive online investment fraud that cheated a complainant of Rs 2,06,07,500.
The arrest followed an investigation into a fake trading platform scam.
Fraudsters contacted the victim via WhatsApp in December 2024, adding him to a group that shared daily stock tips and NIFTY analysis. They posed as financial experts and introduced a fake fund manager to lure the victim with promises of high returns. Trusting the scheme, the complainant transferred money through 54 transactions to five accounts between December 23, 2024, and March 24, 2025.
When the victim attempted to withdraw returns, the fraudsters, posing as a “risk control team,” refused to release funds. Realising the deception, he lodged a complaint at the Cyber Crime Police Station.
Inspector Tapan Kumar Pradhan’s team traced financial transactions and digital evidence to Dwarka, Delhi. They identified and arrested Vinay Kumar Sharma (56), son of Krishan Chand Sharma, residing near Janak Puri Fire Station. Police seized mobile phones, SIM cards, Aadhaar, PAN cards, and other incriminating materials.
The accused was produced before the Dwarka Court and brought on transit remand to Bhubaneswar for further legal action. The Crime Branch reiterated its commitment to fighting cybercrime and urged citizens to remain vigilant against fraudulent investment schemes. Officials advised the public to verify trading platforms before investing and to report suspicious activity to the 1930 Cyber helpline or nearest police station.
