Customers Duped by Online App Firms to the Tune of Rs 250 Cr

 Kakinada: Hundreds of individuals have fallen victim to online app organisers, losing an estimated Rs 250 crores in the process. Enticed by promises of high returns, many people from Bhimavaram, Dwaraka Tirumala, and Rajamahendravaram invested their money in these fraudulent schemes. The scheme reportedly began in Bhimavaram a few months ago, where organisers promoted seven enticing plans, claiming returns of Rs 760 per day on an initial deposit of Rs 20,000.

Participants were encouraged to recruit others, earning commissions of Rs 15,000 for enrolling three individuals or Rs 10,000 for enrolling ten. Prizes such as cookers, fridges, and washing machines were also offered to incentivise further investments. Many individuals initially sceptical eventually invested substantial amounts, ranging from Rs 1 lakh to Rs 5 lakhs, after witnessing others receiving regular interest payments.

However, for the past three Fridays, no interest was credited to accounts, with the organisers citing company celebrations and audit issues. On October 25, customers were asked to pay Rs 6,000 as GST to receive their pending interest. This raised suspicions, leading many to realise they had been scammed. By Saturday night, the app had ceased functioning, yet no complaints have been lodged with the police thus far.