Fraud Alert: Trio Arrested for Conning Investor of ₹10 Lakh in Bhubaneswar

In a significant crackdown, Bhubaneswar police have arrested three individuals involved in a fraudulent scheme that duped an investor of ₹10 lakh. The suspects had established a fake company, initially luring the victim with attractive returns. Following the investigation, authorities have seized bank accounts linked to the accused and recovered a portion of the lost funds. This incident highlights the ongoing issue of investment fraud in the region, prompting increased vigilance among potential investors.

By Narendra Chaudhary May 19, 2025, 19:59 IST

Bhubaneswar Police Crack Down on Investment Scam

Bhubaneswar: Authorities have apprehended three individuals accused of defrauding an investor out of ₹10 lakh by luring him with promises of substantial returns, according to police reports on Sunday.

Two of the suspects were taken into custody in Jeypore, located in Koraput district, while the third was arrested in Khurda.

The trio established a fraudulent company and initially attracted the complainant by offering a 7% return on his investment, as stated by Bhubaneswar DCP Jagmohan Meena.

The victim ultimately invested a total of ₹10 lakh, only to be swindled.

Authorities have frozen all bank accounts linked to the suspects and managed to recover ₹5.30 lakh. Additionally, the victim has received ₹3 lakh following a court case, Meena noted.