The Odisha Police Criminal Investigation Department (CID) has arrested three accused from Bangalore and Maharashtra while taking action in two separate cyber fraud cases. They are accused that through social media, two people were given investment and cheated more than 7 crores.
According to the agency, CID officials said that two accused from Maharashtra Swapnil Goraksha Dhokle and Ajaj Shafiq Sheikh were arrested on Tuesday. Both of them cheated a victim and cheated about Rs 6 crore by luring profits in IPO (Initial Public Offering) and OTC (over-the-counter) trading. At the same time, the third accused Ganesh K. Setty, who hails from Bengaluru, was arrested three days ago. He had cheated more than 1 crore rupees from another person.
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When the victims realized the fraud, they lodged an FIR at Odisha Cyber Police Station. While investigating the case, the CID team identified the three accused on the basis of technical evidence and was arrested and brought to Odisha. CID says that it can be part of the organized cyber fraud gang and more names can be revealed in further investigation. Odisha Police is engaged in further action in this matter.
Regarding the matter, the CID official said that the accused used to contact the victims through social media platforms and implicated them in the name of investment in IPO and OTC trading. Initially, by showing a minor deficit, he used to incite the victims for more investment. When the victims tried to withdraw money, extra fees were demanded from them and refused to release the money.