Odisha Crime Branch arrested Rahul Jaiswal, a 36-year-old MBA graduate from Kolkata, in connection with a Rs 12.33 crore online investment fraud case.
The Cyber Crime Police Station registered the case on September 6, 2025, after a victim reported being duped through a fake trading platform.
Investigators said fraudsters contacted the complainant via WhatsApp on July 31, 2025, posing as stock market consultants. They lured him with fabricated investment tips and testimonials, persuading him to install a fraudulent trading app. Between August 12 and September 2, 2025, the victim transferred Rs 12.33 crore across 52 transactions into nine different accounts. When he attempted to withdraw funds, the fake platform’s “risk control team” blocked his request.
Inspector Tapan Kumar Pradhan led the probe, analysing transaction trails and digital evidence. A raid at Maniktala, Kolkata, resulted in Jaiswal’s arrest. Investigators revealed that ₹4.15 crore was transferred into his linked bank account. Police seized incriminating materials, including mobile phones, SIM cards, and digital devices.
Authorities produced Jaiswal before the Learned A.C.J.M., Sealdah, Kolkata, and secured transit remand. He will be forwarded to the Court of Learned J.M.F.C.-III, Cuttack. Officials confirmed that further investigation is underway to identify other members of the organised cyber fraud network and trace the remaining defrauded amount.
The Crime Branch issued a public advisory urging citizens to remain cautious of unsolicited investment offers on social media and messaging platforms. Officials advised verifying the authenticity of trading platforms before investing and reporting suspected fraud immediately via the 1930 Cyber Helpline or the National Cyber Crime Reporting Portal.
