Bengaluru Man Arrested in Massive Online Betting Scam Affecting Over 800 Investors

Arrest in Online Betting Fraud

Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Police has apprehended an individual linked to an online betting fraud, as confirmed by an official on Thursday.

The suspect, Jitendra Mallick, aged 27, was taken into custody in Bengaluru on June 4 and subsequently transported to Odisha on remand on June 9.

Previously, four other individuals were arrested in connection with this case from various states including West Bengal, Rajasthan, and Kerala, and they are currently incarcerated. Additionally, a 'lookout' notice has been issued for another suspect, Md Saif.

According to reports, these individuals have defrauded over 800 investors from Ganjam district by promising substantial returns on their investments.

Initially, the scammers paid out the promised returns for a short period, but as the number of investors grew, they ceased payments and shut down the application.

Mallick played a key role in promoting the fraudulent application throughout Odisha, successfully enrolling numerous new investors. He organized promotional meetings in hotels across Berhampur, Bhubaneswar, and other locations, as stated by EOW officials.

The scam has national implications, with the total amount involved estimated to exceed Rs 1,000 crore. So far, the EOW has traced transactions amounting to approximately Rs 446 crore and has frozen assets totaling Rs 1.25 crore.