Odisha Police Nab Duo for Defrauding Woman of ₹1.56 Crore in Investment Scam

Arrests Made in Major Fraud Case

Bhubaneswar: On Thursday, the Criminal Investigation Department (CID) of Odisha Police apprehended two individuals accused of swindling a woman out of ₹1.56 crore by luring her with promises of substantial returns, according to police reports.

The suspects have been named as Kamadev Rout and Bikram Kumar Jethi.

The victim, a resident of the Salipur region in Cuttack district, transferred ₹57.39 lakh across ten separate bank accounts provided by the accused. Additionally, she handed over ₹98.60 lakh in cash on various occasions, as stated by the CID.

The complainant had entrusted the money to the accused for investments in various online platforms between February 2024 and February 2025.

When her funds were not returned, she filed a complaint with the cyber police unit of the Crime Branch, a police official revealed.

In a bid to extract more money from her, the accused contacted the victim via phone and traveled to Cuttack on July 16 and 17, where they were subsequently arrested by a CID team.

Initial investigations indicate that the suspects acquired multiple assets, including land, vehicles, and gold jewelry in Bhubaneswar and Jharkhand.

Ongoing investigations aim to uncover further connections of the accused and their financial activities related to this case.