A day after the arrest of a 34-year-old man in Rourkela for his involvement in fraud cases across Odisha, police on Sunday revealed that the investigation uncovered that he had duped his victims of approximately Rs 1 crore since 2016.
Details of the Fraud
According to police, Laxmikanta Panda allegedly defrauded several people by promising subsidized loans, financial assistance, and assistance in opening bank accounts. During the investigation, police discovered his links to fraud cases registered in Cuttack, Puri, Jajpur, Balasore, and Bhadrak. Investigators also found that he had been absconding in earlier cases and that a non-bailable warrant had been issued against him in Balasore district.
“The accused appears to be a habitual offender involved in organized economic offences. The assets found in his possession were far greater than his income, and he failed to satisfactorily explain the source of the properties recovered from him. These findings are corroborated by complaints lodged by multiple victims in different FIRs,” said Jeypore SDPO Archita Mittal.
Investigation and Arrest
Police said the investigation began after several residents lodged complaints at Jeypore Town police station on May 11, alleging that they had been cheated by Panda. During the probe, technical evidence and intelligence inputs gathered with the help of the cyber cell revealed that the accused was hiding in Rourkela, following which a special team was formed to apprehend him.
Subsequently, police raided his hideout in Rourkela and arrested him. During search and seizure operations conducted in the presence of independent witnesses, valuables worth around Rs 20 lakh were recovered and seized following due legal procedures.
Public Advisory
Meanwhile, police appealed to the public to remain cautious against fraudulent financial schemes. “People should not trust offers promising quick returns or loans at subsidized interest rates. Citizens should never share OTPs with anyone and should preferably use digital payment modes, which help in traceability and serve as evidence during investigation,” Mittal added.
Police also urged citizens to verify the credentials of any financial institution before making investments or applying for loans. They emphasized that legitimate financial assistance schemes are always processed through authorized banks and government agencies.
About the Author
Satyanarayan Pattnaik, based in Koraput, is a journalist covering regional news with a focus on agriculture, tribal development, infrastructure, crime, and socio-political affairs. His reporting often brings attention to the challenges posed by Left Wing Extremism and highlights the voices and concerns of tribal communities. Pattnaik’s work provides critical insights into the ongoing transformation of Odisha’s tribal hinterlands.
