Bhubaneswar: The Odisha Crime Branch has arrested two fraudsters from Punjab and Andhra Pradesh in two separate cyber fraud cases involving more than Rs 7 crore, a senior official said on Sunday. The sleuths on August 21 arrested a 41-year-old person from Ludhiana in Punjab for duping a Berhampur-based businessman of Rs 6.16 crore on the pretext of lucrative returns on the investments in digital currency exchange trade.

The accused, identified as Bittu Kumar, who originally hails from Gorakhpur district of Uttar Pradesh, is currently staying at Ludhiana. The victim came in contact with the accused fraudsters through a social media platform in June 2024.

"They (fraudsters) persuaded him to trade in Initial Public Offering (IPO) and Over-the-Counter (OTC), USDT leading him to transfer Rs 6,16,37,084. Despite initial losses, he was convinced to invest more. When the victim attempted to withdraw his money from the virtual account, they demanded additional money and refused to release his funds," the senior official said.