Rourkela: A couplefrom Balasore district was arrested by the cyber crime & economic offences police station in Sundargarh for allegedly duping investors of more than ₹1.26 crore by promising them high returns. The accused, Abinash Grahacharya (42) and his wife Indulekha Ojha (40) of Berhampur in Balasore district, were arrested with the help of Mayurbhanj police from Baripada on Sept 12 and produced in a Sundargarh court on Sunday. They were remanded in judicial custody.Addressing a press conference on Monday, additional SP Santa Nutan Samad said the couple allegedly persuaded Prasant Kumar Naik (45) of Rangadhipa in Sundargarh town, and several others to invest in a company by assuring them of attractive returns. According to the complaint, Indulekha, who projected herself as the company’s managing director, along with her husband, visited Naik’s residence in Aug 2024 and convinced him and his wife to invest substantial amounts. Trusting their assurances, the couple allegedly transferred Rs 77.86 lakh through multiple UPI and net banking transactions.Police said the accused also collected another Rs 45.6 lakh from other investors using similar promises, taking the total alleged fraud amount to Rs 1.26 crore. When investors sought repayment, the couple allegedly failed to return the money and stopped responding.Following a complaint lodged on April 17 this year, cyber police launched an investigation and examined witnesses, financial records and transaction details. During searches, investigators seized bank passbooks, cheque books, debit and credit cards, financial documents, money receipt books and records linked to multiple entities allegedly operated by the accused. “The seized materials are being examined to establish the money trail, identify additional victims and ascertain whether other persons were involved in the operation,” Samad said. Police said efforts are underway to determine the exact amount collected, trace the funds and recover the cheated money.
