Bhubaneswar, Feb 27 (NationPress) The Odisha Police's Crime Branch has apprehended a 31-year-old cybercriminal hailing from Bihar, linked to an alleged investment fraud amounting to Rs 2.06 crore, as disclosed by a senior police official on Friday.

The suspect has been identified as Prins Raj from Ratanapur in Begusarai district, Bihar. His arrest is part of an investigation initiated following a complaint from a businessman based in Bhubaneswar, which was filed at the Crime Branch Cyber Police Station on March 28, 2025.

The victim stated that on December 23, 2024, he was contacted by unidentified fraudsters via the popular messaging app, WhatsApp. He was subsequently auto-added to a WhatsApp group where an individual masquerading as a fund manager from a reputable company offered assistance and encouraged him to invest in the stock market through a fraudulent trading platform.

The group purportedly provided complimentary stock market advice and daily technical analyses of NIFTY.

According to Crime Branch sources, from December 23, 2024, to March 24, 2025, the businessman transferred a total of Rs 2,06,07,500 across 54 transactions from three different bank accounts to five accounts associated with the cybercriminals.

“When he attempted to withdraw funds, the risk control team consistently refused to release his money under various pretenses. It was then that he realized he had fallen victim to a meticulously orchestrated scheme by unknown cyber fraud perpetrators. Consequently, he lodged an FIR at the Cyber Crime Police Station,” the senior official elaborated.

Following the complaint, the police launched an investigation, leading to the apprehension of Raj in Begusarai, Bihar, on Wednesday night. Raj reportedly received Rs 40 lakh out of the total defrauded Rs 2.06 crore.

Raj is currently being transported to Odisha on transit remand and is set to be presented before the Court of the Sub-Divisional Judicial Magistrate (SDJM) in Bhubaneswar upon his arrival.

In a separate cyber fraud case, the Crime Branch has also detained a couple, Himansu Prasad Karna and his wife Sailendri Karna, from Rajkishorepada in Angul district, concerning an investment fraud of Rs 1.55 crore.

According to the complaint, unidentified cyber swindlers initially reached out to the victim through social media and added him to a WhatsApp group titled 'Stock Market Pioneers' and 'VIP IVI Service Team570'. They subsequently lured the victim into investing in a fictitious online trading platform, promising high and guaranteed returns via a link sent to him.

Believing in these false promises, the victim transferred a cumulative amount of Rs 1,55,66,000 from his bank account to seven different accounts in multiple transactions as directed by the fraudsters.