Odisha Police have apprehended a man from West Bengal for his alleged involvement in a massive Rs 12.33 crore online investment fraud, highlighting the growing threat of cybercrime.
Key Points
- Odisha Police arrest a man from West Bengal in connection with a Rs 12.33 crore online investment fraud.
- The victim was lured into investing through a fake online trading platform with fabricated testimonials and investment tips.
- The complainant transferred Rs 12.33 crore to various bank accounts before realising it was a scam.
- Police investigation revealed that Rs 4.15 lakh was transferred to the bank account linked to the arrested accused, an MBA graduate.
- Further investigation is underway to identify other members of the cyber fraud network and recover the defrauded amount.
Odisha Police have arrested a man from West Bengal for his alleged involvement in an online investment fraud case involving Rs 12.33 crore, a senior officer said on Wednesday.
The accused has been identified as Rahul Jaiswal (36), a resident of Kolkata, he said.
The arrest was made on the basis of a complaint lodged by the victim, who lost Rs 12.33 crore in a fake online trading platform, he said.
The fraudsters gained his confidence by sharing fake investment tips and fabricated testimonials. Subsequently, the victim, who hails from Odisha, was persuaded to install a fraudulent trading application and invest funds.
Between August 12 and September 2, 2025, the complainant transferred Rs 12.33 crore to nine different bank accounts of the fraudsters through 52 transactions, the officer said.
When he attempted to withdraw the invested amount, the cyber fraudsters denied the request on various pretexts. Realising that he had been cheated, the victim lodged an FIR at the cybercrime police station on September 6 last year.
During investigation, the police officers found that an amount of Rs 4.15 lakh was transferred into the bank account linked to the arrested accused. The accused is an MBA graduate and is currently self-employed, the officer said.
Further investigation is underway to identify and apprehend other members of the organised cyber fraud network and to trace the remaining defrauded amount, he added.
