Mon Mar 31 17:24:56 UTC 2025: ## Odisha Ex-IT Minister Loses ₹1.4 Crore in Cyber Fraud; Seven Arrested

**Bhubaneswar, Odisha** – A former Odisha information technology minister and current MLA has fallen victim to a sophisticated cyber fraud, losing ₹1.4 crore (approximately $170,000 USD) over a six-week period. Seven individuals, four from Karnataka and three from Tamil Nadu, have been arrested in connection with the crime, police announced Monday.

While police sources identified the victim as a sitting MLA and IIT graduate, Crime Branch IG Sarthak Sarangi withheld the MLA’s name to protect the ongoing investigation. However, BJD MLA and former IT Minister Tusharkanti Behera later stated that a friend had been using his trading account and was responsible for the loss. Regardless of the MLA’s claim, police confirmed that the fraud involved a mobile application and spanned from November 13, 2024, to January 1, 2025.

The accused allegedly posed as trade analysts, enticing victims to invest in IPOs and other trading opportunities with promises of high returns. The Crime Branch’s investigation traced the funds to various bank accounts across India, including Karnataka, Kerala, Tamil Nadu, Telangana, West Bengal, Delhi, Himachal Pradesh, Assam, and Maharashtra.

Police have recovered ₹4 lakh and frozen ₹15 lakh in the accused’s accounts. Further arrests are anticipated in Hyderabad, West Bengal, and Delhi. IG Sarangi also noted that a university vice-chancellor and a Navy officer have recently been targeted in similar cyber fraud schemes, highlighting a growing concern.

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