VIJAYAWADA: Avanigadda police on Tuesday arrested a person for duping several people in the name of crypto currency. The accused was identified as Siddhamsetti Anand Kishore, a native of Vijayawada. He along with his few friends collected around Rs 82 lakh from gullible people.
Disclosing the case details before mediapersons, Deputy Superintendent of Police (DSP) Mehaboob Basha said that a complaint was registered with SP P Joshua on September 1 during the Spandana programme stating that Bhogireddy Nageswara Rao of Tungalavaripalem village of Avanigadda mandal along with several others had cheated them in the name of cryptocurrency and did not return the money.
A special team was constituted under the supervision of Avanigadda CI G Srinivas, Challapally CI Bhimeswara Ravikumar, Avanigadda SI Srinivasa Rao to conduct an investigation. The investigation revealed that Mati Naresh of Gudivada, Anand Kishore of Vijayawada, Manepalli Jagadish of Avanigadda, Tungala Lakshminarasayya of Tungalavaripalem along with others collected money through an imitation website called Trust Wallet.
For those who paid Rs 3.75 lakh, Rs 7,000 will be paid every day for 200 days, Rs 30,000 if each member adds another member, Rs 90,000 if two members are added. They collected about 82.59. The accused had paid back Rs 25.90 lakh to the victims to earn their trust and expand their business. The investigation also revealed that the accused Naresh and Ananda Kishore had deceived several people in the surrounding areas of Khammam and Vijayawada in similar ways.
IT core experts said that the accused had set up an imitation website. Ananda Kishore was arrested while he was on his way to Avanigadda in a car during a vehicle check at Puligadda bridge of Avanigadda mandal. A laptop, mobile phone and documents were seized from him. Elaborating further, Basha said in 2018, Ananda Kishore had cheated Naga Srinivas of Vijayawada of Rs 5 lakh by promising him a gas cylinder agency. A case was registered at Patamata police station. A case was registered in Khammam police station against Matthi Naresh for collecting money.
Vijayawada, Khammam report similar frauds
The investigation also revealed that the accused Naresh and Ananda Kishore had deceived several people in the surrounding areas of Khammam and Vijayawada in similar ways