Ludhiana Man Held in ₹6 Cr Digital Investment Fraud Case

Cuttack, Odisha : Cuttack Police’s Crime Branch Cyber Cell has arrested a Ludhiana-based man in connection with a massive investment fraud involving over ₹6 crore.

The Case :

According to CID CB Cyber Crime PS Case No. 38, dated July 9, 2024, the complaint was lodged by a citizen who alleged he was duped by cyber fraudsters on the pretext of high returns through digital currency trading. The victim was persuaded to trade in IPO, OTC, and USDT (Tether cryptocurrency), eventually transferring ₹6,16,37,084 (over six crore rupees).

Despite repeated investments and mounting losses, the victim was denied withdrawal of his funds unless he paid additional charges. Realizing it was a scam, he filed an FIR with the Cyber Crime Police Station.

The Arrest :

The investigation team, led by DySP Ratnaprava Satpathy, traced the fraudulent transactions and digital footprints to Ludhiana, Punjab. Acting swiftly, the team identified and arrested:

Accused: Bittu Kumar (41)
Father’s Name: Shiv Nath
Native Address: Narayanpur Khurd, PS-Golabazar, District-Gorakhpur

Present Address: Residing at the house of Vinod Kumar Singala, Baba Sain Bhagat Singh Colony, Inder Vihar, Kali Sadak, PS-Jodhewala, Ludhiana, Punjab

During the raid, police seized multiple incriminating materials, including mobile phones, SIM cards, debit cards, and other digital evidence.

Legal Proceedings :

The accused was produced before JMIC 1st Class Court, Ludhiana, and after obtaining transit remand, he was brought to Cuttack. He will be forwarded to the Hon’ble Court of SDJM Berhampur under sections 419, 420, 465, 467, 468, 471, 120-B, 34 IPC read with Sections 66-C and 66-D of the IT Act, 2000.

The case remains under investigation, with police probing the wider network of cyber fraudsters involved in the racket.

Key Highlights :