The Bhubaneswar–Cuttack Police have caught a big cyber fraud gang that cheated people online and stole money from victims across different states using Telegram, WhatsApp, and social media ads.
Each member of the gang played a specific role in the operation. Some were responsible for providing SIM cards, while others opened bank accounts. Fake companies were created, and current accounts were opened in their names. These accounts were then used to receive and transfer the stolen money.
The gang promised people big profits from stock market investments. In the beginning, they showed small fake profits to gain trust. When victims invested more money, the gang disappeared with the money.
How did they do it?
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The gang arranged fake bank accounts and SIM cards, often with the help of corrupt bank staff and SIM card sellers.
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They created fake companies, such as Mahakali Constructions and Priya Fintech, to open current bank accounts with high transaction limits.
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Money sent by victims was quickly transferred through 10 to 15 different bank accounts using UPI and online banking services.
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After withdrawing the money, the gang closed the bank accounts and destroyed the SIM cards to avoid detection.
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This process made it extremely difficult for the police to trace the money trail.
Who Got Caught in the Cyber Fraud?
So far, the police have arrested seven people. This includes three main scammers, one of whom is a B.Tech student, and four bank employees from different banks who assisted by providing ready-made bank accounts in exchange for commissions.
During the raids, the police seized more than 60 mobile phones, 4 laptops, 3 desktops, and 215 SIM cards. They also recovered 554 bank passbooks, 702 debit and credit cards. Additionally, one car and two bikes were seized as part of the investigation and documents of fake companies were confiscated. The scale and variety of the items recovered highlight how large and well-organized the scam was.
The police have also frozen ₹90 lakh (₹90,00,000) in the gang’s bank accounts to prevent the money from being used. While all the arrested individuals are from Odisha, the police have stated that more people from other states are believed to be involved in the fraud network. The gang is linked to similar cases in Uttar Pradesh and Bihar, and police believe many more victims are yet to be identified.
The police have advised people –
- Not to trust investment tips shared on Telegram, WhatsApp, or other social media platforms, and to avoid investing through unknown apps or websites.
- Before making any investment, individuals should verify whether a company is genuine. People are also warned never to give or rent their bank accounts to anyone.
- If someone falls victim to fraud, they should report it immediately by calling 1930 or visiting cybercrime.gov.in, as reporting within two hours can increase the chances of recovering the money.
