Odisha Crime Branch Bust Investment Fraud Ring: 6 Arrested From Tamil Nadu, Gujarat

Bhubaneswar: The Crime Branch of Odisha Police has arrested six individuals from Tamil Nade and Gujarat in connection with an extensive investment fraud.

The accused have been identified as Arun Shaju alias Henry Johnson, Seenu R, and Vasu J from Tamil Nadu, and Jaimin Kukdeja Megharajbhai, Brijesh Dayabhai Sathiya, and Udaya Rameshbhai from Gujarat.

According to police reports, Arun Shaju and Jaimin Kukdeja opened bank accounts used by fraudsters to facilitate illicit activities. Vasu J, Seenu R, and Udaya Rameshbhai were responsible for securing additional mule accounts to ensure seamless money transfers, while Brijesh Dayabhai Sathiya handled cash withdrawals through cheques and transferred the funds to hawala operators in Gujarat.

The investigation was launched on February 28, 2024, when a Bhubaneswar resident, interested in stock trading, reported a scam after falling victim to fraudulent trading apps named “GSQT” and “IBGINON.” Enticed by initial profits, the victim invested a total of ₹71.95 lakhs across ten bank accounts, only to realise that the returns were fabricated. When the fraudsters demanded additional funds under threat of losing the investment, the victim filed a complaint.

Following the registration of FIR No. 11/2024 under multiple sections of the IPC and the Information Technology Act, Crime Branch’s Cyber Crime Unit launched raids in Tamil Nadu and Gujarat, leading to the arrests. The accused have reportedly admitted involvement in similar cybercrimes across India, though further verification is pending. Authorities have seized mobile phones, SIM cards, ATM cards, Aadhar cards, and other incriminating materials during the operation.