Odisha Police Crackdown on Rs 12.33 Crore Investment Fraud

Odisha Police have apprehended a Kolkata man, Rahul Jaiswal, in connection with an online investment fraud amounting to a staggering Rs 12.33 crore, announced a senior officer on Wednesday.

Jaiswal, aged 36, was arrested following a complaint from a victim who was conned into investing in a sham online trading scheme. The accused and his accomplices reportedly ensnared the victim using counterfeit investment tips and forged testimonials, persuading him to install a fraudulent trading app and transfer funds.

Between August 12 and September 2, 2025, a whopping Rs 12.33 crore was deposited into nine different accounts through 52 transactions by the victim. When the victim tried to retrieve his funds, the fraudsters blocked his withdrawal attempts on false pretenses. Realizing the deception, he reported to the cybercrime police on September 6 last year. Police discovered Rs 4.15 lakh deposited in Jaiswal's linked account. As investigations continue, efforts are underway to identify additional perpetrators and recover the remaining stolen funds.