After losing Rs 20.45 lakh in a stock market investment scam, a 48-year-old life insurance agent at a private bank in Danipali lodged a complaint with the Sambalpur Cyber Police Station.
A man named Ravi Sarangi reached out to the complainant, Bijay Kumar Pradhan, using an instant messaging app and lured him into investing in stocks. Sarangi instructed Pradhan about stock market positions and high-quality stocks for future usage, according to the FIR. After that, he joined three instant message groups where the criminals gave him instructions to fund many accounts.
Pradhan claims that the business guaranteed the security of his funds. At first, they gave him meager profits and put pressure on him to make further deposits. He was urged to pay more money in order to withdraw the earlier deposits after his request to withdraw the money was denied.
The complainant deposited Rs 20.45 lakh in many bank accounts on various days between October and November 15, 2024. Additionally, the complainant sent funds to the accounts of the phony organization from his wife’s account. Later on, he realized that he had fallen victim to investment scam via cyberspace. He made an unsuccessful attempt to get in touch with the message groups’ administrator. He contacted the Cyber Crime Police Station on Sunday after submitting a case through the national cybercrime reporting system.
The lawsuit was filed under the Information Technology Act and BNS provisions pertaining to criminal conspiracy and fraud.
Amia Dungdung, inspector of the Cyber Police Station, told media, “We have given requisition to banks that the complainant mentioned. The victim learnt stock market investment and started investing with the online company in Oct and Nov. The possibility of money recovery from the third and fourth layers of banks may happen.”
The scammers are clever enough not to keep money in the bank accounts where victims transfer money, she continued.
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