The Odisha Police’s Crime Branch apprehended Vedgiri Srinivasrao, a 39-year-old cyber criminal from Bhubaneswar, in connection with a Rs 6 crore investment fraud case. Srinivasrao, a resident of Guntur, Andhra Pradesh, was identified as the accused. A businessman from Berhampur, Ganjam district, fell victim to a cyber fraudster on Facebook who posed as a Software developer with IBM, Hong Kong, leading to significant financial losses.
The fraudster, known as Sanjana Srinivasan, lured the victim into opening a trading account with ZAIF for digital currency exchange, resulting in a negative balance of $11,292. Despite facing losses, the victim was persuaded to invest more money to recover, ultimately transferring a total of Rs 6,16,37,084 to various accounts as instructed by the cyber fraudster. The victim’s complaint led to the Crime Branch launching an investigation, resulting in the arrest of Srinivasrao in Bhubaneswar after analyzing transaction details and digital evidence.
The police had previously apprehended six suspects in the case, with five arrested in Surat, Gujarat, and one in Ludhiana, Punjab. The victim’s ordeal serves as a cautionary tale against falling prey to well-planned cyber fraud schemes, highlighting the importance of vigilance and due diligence in financial transactions.
