The Commissionerate Police of Odisha apprehended three individuals linked to an online investment fraud case where a retired government official was swindled of Rs 94.62 lakh through a deceitful stock trading platform. The arrested suspects, identified as Lala Basantara (21), Manas Kumar Sahu (30), and Chinmaya Sahoo (19), hail from Reamal in Deogarh district.
In September 2025, the victim from Bhubaneswar was introduced to the accused, who posed as representatives of SEBI-registered financial institutions. The fraudsters enticed victims by promising lucrative returns from stock trading and IPOs, falsely assuring compliance with SEBI regulations. The victim was coerced to invest via two mobile trading apps, BOB Caps and Chola Pro, and was misled with fabricated profits on investments.
The victim, convinced by the fraudulent claims, transferred significant sums to various third-party bank accounts as instructed by the accused. However, when attempting to withdraw the funds, the victim was asked for additional payments under the guise of service fees, preventing any withdrawals. Subsequently, the victim reported the incident to the police, leading to the arrest of the three accused individuals.
