Online fraud is on the rise in Nellore, with victims losing money in cryptocurrency scams, fake stock trading firms, and fraudulent loan offers.

Politics & Administration

Posted by AI on 2025-09-01 20:55:44 | Last Updated by AI on 2025-12-18 09:23:03

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The District Police Office held a Public Grievance Redressal Programme on Monday to address rising online financial fraud. Victims shared their experiences and losses caused by cryptocurrency scams, fake stock trading firms, and fraudulent loan offers.

One victim, from Kaligiri, alleged he was duped of 14.5 lakh by a woman he met through a matrimonial profile who promised high returns via cryptocurrency investments. Another victim, from Kavali, reported losing 50 lakh after investing in a fraudulent company named Kuvera, which promised stock market profits through Instagram. A man from Nawabpet claimed an individual promised to secure a bank loan and subsequently requested an additional 80,000 as a cancellation fee, cheating him out of 18 lakh.

Police officials present at the event assured that all grievances would be investigated, and justice would be served at the earliest.

79 complaints were received on various matters, including cyber fraud, family disputes, missing persons, accidents, and harassment cases.

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