Odisha CID-Crime Branch arrests cyber fraudster from Ludhiana for Rs 6.16 cr scam
Bhubaneswar, Aug 24 (UNI) The Criminal Investigation Department (CID) of the Odisha Crime Branch has arrested a cyber fraudster from Ludhiana, Punjab, for defrauding a citizen of over Rs. 6.16 crore.
According to CID-CB sources, the accused has been identified as Bittu Kumar (41), a resident of Sain Bhagat Singh Colony, Inder Vihar, Kali Sadak, Ludhiana.
The arrest was made by a team led by Dy. SP Ratnaprava Satpathy, following a detailed analysis of transaction records and other digital evidence.
Kumar was produced before the JMIC 1st Class Court, Ludhiana, which granted a transit remand. He was then brought to Cuttack and will be forwarded to the Court of SDJM, Berhampur, under Sections 419, 420, 465, 467, 468, 471, 120(B), and 34 of the IPC, read with Sections 66-C and 66-D of the IT Act, 2000.
The case was registered after a citizen complained of being cheated by unknown fraudsters, who lured him with promises of high returns by investing in digital currency exchange trading. The victim was persuaded to trade in IPO and OTC, USDT, and eventually transferred Rs. 6,16,37,084.
Despite facing initial losses, the fraudsters convinced him to invest further. However, when he tried to withdraw his money, they demanded additional payments and refused to release his funds. Realising it was a scam, the victim lodged an FIR, leading to the arrest.
During the operation, the CID-CB team seized several incriminating materials, including mobile phones, SIM cards, and debit cards, from the possession of the accused.
The investigation is currently underway, sources added.
