Fraud Alert: Man Arrested for Duping Investor of ₹12 Lakh with Fake Trading App

Cyber Crime in Bhubaneswar

Bhubaneswar: A 34-year-old individual was apprehended by the Cyber Police on Saturday in Balasore for allegedly defrauding a local investor of ₹12 lakh by promoting a fraudulent trading application.

Deputy Commissioner of Police (DCP) Jagmohan Meena reported that the suspect had been running this scam from his in-laws' home in Balasore for a considerable time.

Upon his arrest, authorities confiscated ₹8.39 lakh in cash, three mobile devices, bank cheque books, debit cards, rubber stamps, and other evidence.

The accused, identified as Pramod Kumar Mahinti, hails from Kendrapara district.

Despite only completing his matriculation, Pramod utilized his technical skills to mislead the victim.

He operated a business named 'Baishnabi Enterprises,' employing a counterfeit GST registration certificate to gain the trust of the complainant and secure the investment.

The investigation was initiated after Milan Kumar Beura, a Nayapalli resident, lodged a complaint with the Cyber Police on May 7.

Milan claimed that Pramod enticed him with the promise of a seven percent monthly return on investments made through an app called 'BlinkxPro.'

From March 19 to May 6, he invested a total of ₹12 lakh across two separate bank accounts.

Initial inquiries indicated that one of the accounts involved was registered in Delhi, while the other was located in Balasore.

The Cyber Police have charged Pramod under various sections of the Bharatiya Nyaya Sanhita (BNS).

He was presented before a local court on Saturday for remand.