Three held for cheating investors of crores in separate fraud cases in Odisha
While 48-year-old Ganesh K Setty, a native of Bengaluru, was arrested for his alleged involvement in duping a retired CRPF officer of over Rs 1.03 crore, the other two Swapnil Goraksha Dhokale and Azaz Shafiq Shaikh, belonging to Maharashtra, were held on charges of cheating a Bhubaneswar-based doctor of over Rs 6.04 crore.
In the first case, the victim, a retired Bhubaneswar-based CRPF officer, had lodged a complaint in April last year alleging some fraudsters had persuaded him to invest in IPO and OTC trading on the promise of being provided higher returns. The complainant reportedly transferred around Rs 1.03 crore but when he attempted to withdraw the money, the accused allegedly demanded more money to release his investment sum.
Basing on his complaint, the Crime Branch team analysed the transaction details and digital evidences and eventually nabbed Setty from Bengaluru. He was brought on transit remand to Cuttack on Tuesday.
Meanwhile, police began investigation into the second case after receiving complaint from the victim doctor. He alleged some unknown persons lured him to invest in IPO and OTC trading on the pretext of receiving lucrative returns and he transferred over Rs 6.04 crore in multiple phases.
The accused were nabbed and brought on transit remand to Cuttack. They were produced in the SDJM Court in Bhubaneswar.
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