Odisha Police Uncovers Major Cyber Fraud Operation in Rourkela

Significant Cyber Fraud Bust in Rourkela

Rourkela: The Odisha Police have successfully dismantled an international cyber fraud scheme, leading to the arrest of nine individuals in Rourkela.

Authorities reported the seizure of ₹1.41 crore from 23 different bank accounts, according to a senior police official on Wednesday.

The suspects include Kishan Agarwal (26), Kunal Agarwal (25), Girdhar Singh (24), Ajay Kumar (25), Sandeep Kumar Soni (28), Soumendra Singh Rajput (27), Abhijit Bhardwaj (27), and Dinesh Kumar Sahu (25), all hailing from various regions of Chhattisgarh, along with Arjun Singh (27) from Uttarakhand. Their arrests occurred on Tuesday evening.

During a press briefing, Western range DIG Brijesh Kumar Rai stated, "Following a tip-off, our team monitored two apartments in Rourkela. This surveillance was initiated due to reports of suspicious activities involving numerous unidentified individuals in the area."

In the initial raid, two suspects were apprehended, while a subsequent operation led to the capture of five more individuals, who were found in possession of incriminating materials, including counterfeit SIM cards, mobile devices, and laptops.

"They were defrauding individuals through a fraudulent application they developed, named TradeNow," the officer explained.

The group was reportedly managing mule accounts and was transacting over ₹50 lakh daily, Rai noted.

Further investigations resulted in the arrest of two additional suspects linked to the cyber fraud operation.

Kishan Agarwal, identified as the mastermind, allegedly orchestrated the scheme from Dubai, operating across India and other nations, according to the DIG, who confirmed his capture in Rourkela.

"During questioning, the suspects disclosed that they utilized the fake mobile application to entice investors with promises of substantial returns in the stock market within a brief period," Rourkela SP Nitesh Wadhwani stated.

Describing the gang's tactics, the officer mentioned that they initially provided small profits ranging from ₹1,000 to ₹4,000 to investors. However, when individuals invested larger sums, the fraudsters would claim losses in the stock market to abscond with the funds.

To build trust with potential investors, the group allegedly used a fabricated video featuring a well-known Bollywood actor endorsing their application, the SP added, promising further updates on this matter.

The police have confiscated five laptops, 31 mobile phones, 68 SIM cards, 20 identification documents, four bank passbooks and cheques, two USB drives, 19 ATM cards, a money counting machine, a car, and a scooter.

In total, ₹1.41 crore has been seized from 23 accounts, with 176 accounts currently under investigation.