3 held for duping engg student of Rs 10L

Bhubaneswar: Cyber police here arrested three men on Sunday for allegedly duping an engineering student of Rs 10 lakh through false promises of high returns in stock trading.

The accused — identified as Sidharth Pujari (25), Abinash Sahoo (37), and Bibek Singh (35) — were arrested following an investigation into a complaint filed on Jan 4. The trio allegedly posed as directors of a Bengaluru-based company to lure victims through social media platforms.

According to police officers, the fraudsters promised investors a lucrative monthly commission of 7% on their investments. The victim, who requested anonymity, fell prey to the scheme and transferred Rs 10 lakh in multiple instalments between July and Nov 2024.

"The accused adopted fraudulent strategy to target potential victims. We have seized several electronic devices, including laptops and mobile phones, used for the crime. Preliminary investigation suggests that the group may have targeted other victims across the state," DCP Jagmohan Meena said.

Police authorities urged citizens to exercise caution while dealing with online investment proposals and to verify the credentials of investment firms through official channels.