HYDERABAD: Cybercrime police on Tuesday arrested a 34-year-old man, Bobbari Srinivasa Rao of Andhra Pradesh, in connection with an alleged initial public offering (IPO) allotment fraud. He is involved in 19 cases across India, including two in Telangana, and is known to operate as an account holder and account supplier.
The case was registered on the complaint of a 63-year-old man who lost over Rs 43 lakh. The victim said he received a WhatsApp message from “AXIS Security”, which he mistook for Axis Bank, offering IPO allotments and trading options. Believing it genuine, he invested the money in four transactions between July 12 and early August this year.
Fraudsters lured him with fake profits and discounted share allotments, later coercing him to pay more by threatening to freeze his funds. Realising the fraud, he approached police.
Advocate loses Rs 10L
A 41-year-old advocate lost Rs 9.98 lakh after a loan of Rs 12.75 lakh was credited to his account without consent and immediately siphoned off to fraudulent accounts. He had alerted his bank’s Padma Rao Nagar branch a day earlier after noticing a suspicious beneficiary had been added. The victim suspects APK files on his device enabled the fraud.
Man held for defrauding student of Rs 1.7 lakh
Cybercrime police on Tuesday arrested a 30-year-old habitual fraudster for duping a student of Rs 1.7 lakh with a fake job offer. The accused, Ponnaganti Tej Kumar, a resident of Krishna district in Andhra Pradesh, posed as an HR executive of a reputed IT firm and offered a 23-year-old student from Asifnagar a job package of Rs 6.5 lakh per annum.
TG records 11% drop in cybercrime: DGP
DGP Dr Jitender on Tuesday said the state has recorded an 11% reduction in cybercrime cases this year, against a 37% rise nationally. He noted that losses due to cybercrime in the state dropped nearly 20% compared with last year. He inaugurated ‘Vyuha Labs – Cyber Innovation Hub’ at the Indian Institute of Information Technology-Hyderabad, Gachibowli.
Cops bust online betting racket, 8 arrested
Police busted an illegal online betting racket on Monday, arresting eight persons for allegedly operating banned Khelo Games apps. Police seized 18 phones, three bank passbooks, 13 ATM cards and froze transactions worth Rs 29.81 lakh. They have identified 235 user IDs connected to the racket. Efforts are underway to nab the absconding accused.