Police say the case is unprecedented and may be the first instance of cybercriminals digitally “arresting” an Indian abroad and extorting money by exploiting fear and impersonating authorities.
Abhishek Chandel and Jinali Jagadish Shah allegedly duped victims in Chandikhole and Bhubaneswar via fake trading platforms, police said. Both have been brought to Cuttack for court proceedings.
After busting the racket in October, investigators unravelled a single, tightly coordinated syndicate that relied on an elaborate digital and financial infrastructure to run a range of frauds.
The Central Bureau of Investigation recovered Rs 1.88 crore in cash and 34 electronic devices from six accused arrested in Noida, who had allegedly been targeting US citizens since 2022.
