The Commissionerate Police has cracked down on an investment fraud case, arresting Priya Ranjan Swain, a 43-year-old habitual offender, for allegedly defrauding a Bhubaneswar resident of Rs 10 lakh.
The arrest follows a complaint filed by Soumya Ranjan Pradhan, a resident of Mancheswar Industrial Estate Area, who was lured into a fake investment scheme by “GPNS Business Private Limited.”
According to the police, Pradhan invested Rs 10 lakh in 2024, enticed by promises of a 7% monthly commission. The transactions included Rs 4.5 lakh on September 26, 2024, Rs 3 lakh on November 11, 2024, and Rs 2.5 lakh on July 29, 2024, transferred from his and his brother’s accounts. However, the company neither paid the promised commission nor returned the invested amount. When Pradhan confronted the company’s Bhubaneswar representative, Priya Ranjan Swain, he received evasive responses and delays.
The Cyber Police Station registered the case under multiple sections of the Bharatiya Nyaya Sanhita (BNS) and Section 66D of the IT Act. Following a thorough investigation, Swain was arrested and confessed to his role in the scam. Police revealed that Swain is a repeat offender with 11 cases registered against him across Odisha. Items seized from him include a mobile phone, a laptop, two debit cards, a PAN card, a diary, and visiting cards.
The police suspect that the fraudulent company has targeted multiple victims across Odisha using similar tactics. The investigation is ongoing to uncover the full extent of the scam and identify other potential victims.
Authorities have urged the public to exercise caution when investing in schemes promising unusually high returns and to verify the legitimacy of companies before transferring funds.
