Cuttack: The Crime Branch of Odisha Police arrested two individuals from Punjab for allegedly defrauding a total of ₹9.05 crore from two residents of Odisha through online trading scams.

The arrests were made in two separate cases involving cyber fraud tactics. According to officials, the fraudsters duped the victims by luring them into investing in Initial Public Offerings (IPOs) and Over-the-Counter (OTC) trading platforms, promising high returns.

In the first case, the complainant reported receiving multiple phone calls from unknown cybercriminals who convinced him to invest in what appeared to be legitimate IPO and OTC trading opportunities. Persuaded by their assurances, the victim transferred ₹7.5 crore in several installments, despite suffering initial losses. When he later attempted to withdraw his funds, the fraudsters demanded additional payments and ultimately refused to return the invested amount.

Acting on the complaint, the Cyber Crime wing of the Crime Branch registered a case and conducted a detailed investigation, analysing transaction records and digital evidence. Their efforts led to the identification and arrest of Amrit Pal from Sangrur, Punjab. He was presented before the Sangrur Court and, after obtaining transit remand, brought to Odisha. Pal was produced before the SDJM Court in Jeypore and booked under multiple sections of the Bharatiya Nyaya Sanhita (BNS) 2023, including Sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), 61(2), 3(5), along with Sections 66-C and 66-D of the Information Technology Act, 2000.

In the second case, the Cyber Crime unit arrested Pradeep Soni from Ludhiana, Punjab, for allegedly defrauding another Odisha-based complainant of ₹1.55 crore using a similar modus operandi. He was produced before the JMFC (I) Court in Ludhiana, and following the grant of transit remand, was brought to Odisha and presented before the SDJM Court in Bhubaneswar. He was booked under the same sections of the BNS and IT Act as in the previous case.

The Crime Branch has issued an advisory warning the public to remain cautious of unsolicited investment offers made via social media platforms and messaging apps. The Crime Branch further urged people to thoroughly verify the legitimacy of any trading or investment scheme before transferring money. Victims of cyber fraud are encouraged to report incidents via the Cyber Helpline 1930 or at the nearest police station.