Investors Kidnap Odisha Stock Trader After Losing Money In Market Downturn

Bhubaneswar:

A group of investors allegedly kidnapped a stock market trader from Odisha’s Cuttack after he failed to repay them their money, police said.

The stock market trader, identified as Soumya Ranjan Behera (31), was rescued from Kendrapara town on Monday after a 12-hour-long operation. All seven kidnappers have also been arrested, they said.

Police Commissioner S Dev Datta Singh said Soumya was actively involved in share trading between 2019 and 2022, and had set up an office at Kharvelnagar.

A large number of people had invested their money in the markets through him, lured by the promises of high returns in a short period, he said.

“However, due to a sudden and severe downturn in the market, Soumya incurred massive financial losses and was unable to repay the investors,” he said.

No fraud has been detected so far in his business, Singh said.

Those arrested belong to the Kendrapara district, and a car and four motorcycles were seized from them. 

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