Odisha Crime Branch has apprehended two cyber fraudsters from Punjab for orchestrating a high-value investment scam, deceiving citizens with fraudulent IPO and Over-The-Counter (OTC) trading schemes.
The fraud involved sophisticated online tactics, where unsuspecting victims were persuaded to invest in IPO and OTC trading platforms, promising high returns.
Following complaints lodged under CID CB Cyber Crime PS Case Nos. 60/2024 and 13/2025, investigations led by Inspector Namita Kumari Sahu unearthed a scam amounting to ₹9 crore. One victim lost ₹7.5 crore while another was defrauded of ₹1.55 crore through meticulously crafted online tactics that manipulated investment aspirations.
The fraudsters, after luring investors and extracting successive payments, refused to release the invested amounts, demanding even more money to process withdrawals.
After digital forensics and extensive tracing, the investigating team, led by Inspector Namita Kumari Sahu, arrested Amrit Pal from Sangrur and Pardeep Soni from Ludhiana. Both accused were produced in their respective local courts and brought to Odisha on transit remand.
Both individuals face charges under multiple sections of the Bharatiya Nyaya Sanhita, 2023, alongside provisions of the Information Technology Act, 2000.
The CID Cyber Crime Branch has appealed to citizens to exercise caution with unsolicited investment offers, especially those received via social media and messaging platforms. Victims are urged to report cyber frauds via the 1930 helpline or at their nearest police station.
