Cyber Fraudster Nabbed: Forex Scam Unveiled
A 24-year-old man from Telangana was arrested for allegedly defrauding an elderly couple in Odisha with false promises of high returns via a Forex platform. The couple transferred over Rs 23 lakh to the accused, who was later caught during an investigation revealing a larger cyber fraud racket.
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In a significant breakthrough, Odisha Police have apprehended a 24-year-old man in Telangana for allegedly exploiting an elderly couple in a dubious investment scam involving a Forex trading platform. The arrest was part of an operation to dismantle a larger cyber fraud network.
The accused, identified as Kathi Karthik Kumar, lured the couple, Sabyasachi Prahraj and his wife, with promises of high returns on their investment, leading them to transfer Rs 23.39 lakh online. The funds were later traced to accounts involved in wider fraudulent activities.
Investigations, triggered by a complaint lodged in Bhubaneswar, revealed that the fraudster was part of a syndicate that creates fake accounts and impersonates firms to deceive the public. Odisha Police are continuing their efforts to uncover other players involved in the racket.
(With inputs from agencies.)
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