In a dramatic operation spanning two southern states, the Odisha Crime Branch arrested seven cyber fraudsters for cheating a senior BJD leader and former Odisha minister of a whopping ₹1.4 crore. These scamsters promised huge profits through fake investments in IPOs (Initial Public Offerings) and OTC (Over-the-Counter) trading—but it was all a sham.
How It All Started: A DM That Turned Into a Scam
The case came to light when the veteran BJD MLA received a social media message a few months ago. The message was from someone posing as a stock market expert. Soon, this digital stranger began pitching attractive investment options, promising quick and high returns.
He claimed the MLA could make big money through:
- IPO investments
- Share market trades
- OTC trading (buying/selling financial instruments not listed on formal exchanges)
Blinded by the seemingly genuine advice and lucrative returns, the former minister began transferring money to them. Over a span of just 1.5 months (Nov 13, 2024 – Jan 1, 2025), he sent ₹1.4 crore to various accounts, trusting the fraudsters completely.
The Trick Unfolds: From Promises to Pressure
At first, the victim was made to believe he was experiencing some minor losses—normal in the trading world. However, the scammers used this to build more trust and manipulate him further, saying that investing more would help recover the money and boost returns.
But when the MLA asked to withdraw his investments, the scamsters turned shady. They demanded more money, made excuses, and refused to release any funds. That’s when the former minister understood he had been tricked.
The Crime Branch Swings into Action
After receiving the complaint on January 13, 2025, the Cyber Crime Police Station launched a full-fledged investigation. Teams raided multiple locations across Karnataka and Tamil Nadu between March 25 and 28, tracking down all suspects.
Those arrested include:
- From Karnataka:
- Jyothi Raju (39)
- Raju C (34)
- Ismail Rahaid (27)
- Vasim (28)
- From Tamil Nadu:
- Pattaraja S (34)
- Jegatheesh Radhakrishnan (40)
- E Sakthikumaravel (50)
They were brought to Odisha on transit remand and presented before the court on Sunday.
What the Police Found
During the raids, officials recovered a host of incriminating evidence, including:
- Mobile phones and SIM cards
- WhatsApp chat screenshots
- Aadhaar and PAN cards
- Bank passbooks and cheque books
- Debit cards
The Crime Branch also froze multiple bank accounts linked to the fraud. So far:
- ₹15 lakh has been frozen in various bank accounts
- ₹4 lakh has been recovered
- Efforts are being made to recover the remaining amount
Legal Action Underway
The police have booked the accused under several serious sections of the Bharatiya Nyaya Sanhita (BNS) and the IT Act, 2000, which deal with cheating, criminal conspiracy, and cyber crimes.
Why This Matters
This incident is a stark reminder that anyone—even seasoned leaders—can fall prey to cyber scams. Fraudsters are becoming increasingly sophisticated, using fake financial jargon, deep social engineering tactics, and trust-building communication to dupe even the most cautious individuals.
A Word of Caution for the Public
If you’re ever approached online by someone offering high returns on investments, do not act in haste. Always verify:
- Who they are (Google them, check LinkedIn or official websites)
- What platform are they using (is it credible?)
- Their registration with SEBI or any financial authority
- Never share personal financial details or make large transactions without due diligence
Cyber scams are no longer limited to tech novices. If a former minister can be tricked, anyone can. Stay informed. Stay alert.
