₹8.40cr fraud: 2 cyber crooks held from Kolkata

Odisha Police arrested two cyber fraudsters from Kolkata in connection with investment frauds to the tune of ₹8.40 crore, a senior Crime Branch (CB) official said Thursday.

- PNN & AGENCIES

In one incident, the victim, a 50-year-old individual from Purighat area in Cuttack, came in contact with a Whatsapp group, “C-51 ICICI Securities Official Stock” in October 2023.

After he joined the group, the cybercriminals persuaded him to invest in stocks and initial public offerings (IPOs) via fake apps (https://app.fiosh.com, https://bolsip.com), promising high returns against his investment.

The accused persons initially gave away small profits to gain his trust.

The victim was also later offered a fake loan to invest in IPOs and shared another application.

Persuaded by the accused fraudsters, the complainant made further payments to get the loan.