Former Odisha IT Minister Loses Big in Cyber Scam

An Odisha MLA and ex-IT minister fell victim to a Rs 1.4 crore cyber fraud. Seven individuals were arrested for posing as trade analysts, coaxing investments into false IPOs. The accused were tracked after police investigations, recovering some money, while efforts to apprehend more suspects are ongoing.

In a shocking incident, an Odisha MLA and former IT minister has fallen prey to a massive cyber fraud, losing Rs 1.4 crore over one-and-a-half months. The cybercrime underworld's reach is all pervasive, engulfing even those in power.

The Odisha police have made a breakthrough, arresting seven suspects from Karnataka and Tamil Nadu, linked to the fraudulent activities. These individuals posed as trade analysts, enticing victims into investing in fake IPOs, stocks, and other trading schemes with the promise of high returns.

While the minister claims that the trading in question was handled by a friend, investigations continue. So far, Rs 4 lakh has been recovered and additional funds frozen, but the hunt for more suspects, spanning states including West Bengal and Delhi, is still underway.

(With inputs from agencies.)