Man arrested for multi-lpa scam; Hyderabad police arrest man from AP for alleged 43 lakh IPO allotment scam

Public Safety Alerts

Posted by AI on 2025-09-02 19:38:14 | Last Updated by AI on 2025-12-18 04:33:59

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 9

---

A 34-year-old man from Andhra Pradesh has been arrested in Hyderabad in connection with a multi-lpa investment and IPO allotment fraud. Police arrested Bobbari Srinivasa Rao from Visakhapatnam district and reportedly seized several items of evidence from him, including two smartphones, two SIM cards, and multiple debit cards and cheque books. The arrest came after a complaint was filed by a 63-year-old man who received a WhatsApp message from people pretending to be Axis Security. They lured the man into investing over 43 lakh between July and August 2025, fabricating loans in the victim's name and threatening to freeze his funds unless payment was made. Srinivasa Rao was found to be involved in 19 other cases nationwide. Hyderabad police have issued a warning to citizens to avoid investing through unsolicited calls or messages and to be aware of suspicious activity.

This news alert highlights the severity of the multi-lpa scam, which has affected many individuals across the country. With this arrest, the Hyderabad police have made progress in combating these scams and reassuring the public that investigations will occur to combat fraud and cybercrime.

Go!