Fake Email Scam Embezzles ₹1.85 Crore from Odisha Firm; Accused Arrested in UP

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A 26-year-old individual from Uttar Pradesh was apprehended by the Cyber Crime and Economic Offences Police following allegations of orchestrating a fraudulent scheme targeting an Odisha-based company.

Deceptive Tactics Facilitate Financial Theft

The scheme unfolded when the Sundargarh-based company received an electronic communication mimicking its legitimate business partner. The message instructed the firm to update its beneficiary bank account details for an upcoming transaction. The company complied without suspicion, initiating two Real Time Gross Settlement (RTGS) transfers totaling ₹1,85,45,436. The first transaction amounted to ₹65,57,436, while the second reached ₹1,19,88,000. Both sums were directed into a newly created bank account, which investigators believe was specifically established to intercept the fraudulent proceeds.

The fraud remained undetected until the genuine business partner contacted the firm regarding an overdue payment, prompting an internal review of financial records. This led to the discovery of the unauthorized transaction and the subsequent filing of a police complaint.

Cross-Jurisdictional Collaboration Results in Arrest

Cyber crime investigators launched a probe to trace the fraudulent account and analyze communication logs. They successfully placed a lien on ₹1.14 crore within the account and secured a court order to return the funds to the victimized enterprise. Through coordinated efforts with Uttar Pradesh police, Khan was located in Hapur and arrested on Wednesday.

During the raid, law enforcement recovered two mobile devices, active SIM cards, and documents linked to the scheme. Khan was presented before a local court in Uttar Pradesh, where a transit remand was approved to transfer him to Sundargarh. He appeared before a local court in the region on Saturday night and was remanded to judicial custody.

Ongoing Investigation to Uncover Full Scope

Forensic analysis of the seized mobile devices and SIM cards is underway to determine the methods used to execute the deception and how the syndicate obtained insider information about the company’s vendor relationships. Investigators are also examining the operational control of the bank account used to intercept the payments.

Efforts are focused on tracing the remaining ₹71 lakh that was withdrawn prior to the account freeze. Authorities are investigating secondary accounts used for cash withdrawals and digital transfers, while working to identify additional suspects involved in the scheme. Police have indicated further arrests are likely as the probe progresses.