Archive · 25 Jun 2025
Odisha Police Arrest Two in Rs 6.04 Crore IPO Cyber Fraud
Two people in Maharashtra were arrested by Odisha police for stealing over 6 crore rupees through a fake investment scheme.
They tricked a person into investing in stocks, promising big returns.
After the person lost money, they persuaded them to invest more.
However, when the person tried to take their money out, the scammers asked for extra money and wouldn't give it back.
The police caught them after investigating the case.
Odisha Crime Branch arrested two cyber scammers from Maharashtra.
The arrests are related to a Rs 6.04 crore IPO trading scam.
The victim was defrauded under the pretense of high returns from IPO and OTC trading.
The accused convinced the victim to invest more after initial losses.
The accused demanded more money and refused fund withdrawals when the victim tried to retrieve money.
- Who
- Swapnil Goraksha Dhokale and Azaz Shafiq Shaikh.
- What
- Two cyber scammers were arrested for a Rs 6.04 crore IPO fraud.
- When
- Arrests occurred recently.
- Where
- Mumbai and Pune, Maharashtra, India.
- Why
- To address the cyber fraud of a man from Odisha.
Victim
Perpetrators
Loss vs. Gain
Victim
Financial Loss
Perpetrators
Financial Gain
- Agency
- Odisha Crime Branch
- Location of Arrests
- Mumbai and Pune
- Number of Arrests
- 2
- Crimes
- Cyber Fraud, IPO Scam
- Amount Involved
- Rs 6.04 crore
- Accused Names
- Swapnil Goraksha Dhokale and Azaz Shafiq Shaikh
