The Cyber Crime Unit of the Odisha Criminal Investigation Department (CID), Crime Branch, has successfully arrested a key perpetrator in a large-scale online trading scam that defrauded a victim of ₹47.2 lakh.
The accused, identified as Syed Iqbal Hussain (45) from Hyderabad, was taken into custody following a meticulous investigation tracing digital evidence and financial transactions.
The case originated from a complaint lodged by a resident of Cuttack, who was enticed by cyber fraudsters posing as investment analysts. They promised lucrative returns through IPO and OTC trading, ultimately persuading the victim to invest large sums of money.
Initial losses were dismissed as temporary setbacks, prompting further investments. However, when the victim attempted to withdraw funds, the fraudsters demanded additional payments and refused to release the money, exposing the scam.
A dedicated team led by Dy. SP Kalpana Sahu analysed crucial digital footprints, including transaction records, mobile communications, and online interactions. Their efforts culminated in tracking down the accused in Hyderabad, where he was apprehended and brought to Odisha on transit remand before being presented in court.
Authorities have seized key evidence, including mobile phones, SIM cards, WhatsApp chat records, and Aadhaar cards, linking the accused to the fraudulent operation. Several bank accounts used in the scam have also been frozen as part of the ongoing probe to uncover accomplices and the broader financial network involved in the crime.
Odisha Police has issued a strong advisory urging citizens to be cautious of unsolicited investment offers circulating on social media and messaging platforms.
They emphasise verifying investment schemes before transferring money and reporting suspicious activities to the 1930 Cyber Helpline or their nearest police station.
As investigations continue, law enforcement authorities aim to dismantle the fraud network, ensuring justice for victims and reinforcing cybersecurity awareness across the country.
