The Odisha Police arrested a 24-year-old man from Telangana on Tuesday for allegedly defrauding an elderly couple, promising them a higher return on investment, police informed.
The victims, Sabyasachi Prahraj and his wife, were planning to start a nursing school after retirement. They initially connected with the accused, identified as Kathi Karthik Kumar, after seeing a Facebook advertisement for a Forex trading platform, according to a police officer.
The couple transferred Rs 23.39 lakh to Kumar through online transfers. But, later realised they were defrauded. Following this, they lodged a complaint with the police in Bhubaneswar.
The police investigation revealed that the account used by Kumar was also being utilized to receive fraudulent funds from other unsuspecting individuals. Subsequent investigations and raids in Telangana led to Kumar’s arrest, the officer said.
Police stated that Kumar was actively involved in cyber financial fraud. His operation, they added, involves creating virtual current accounts and impersonating legitimate business entities to deceive the public.
Efforts are currently underway to identify and apprehend other members of the fraud racket.
