Palamaner reeling from ₹6 cr scam orchestrated through Datameer AI

Tirupati : A sophisticated investment fraud has devastated the financial well-being of numerous residents in Palamaner mandal of Chittoor district. The Rs6 crore scam, orchestrated through a deceptive application called Datameer AI (DAAI), lured victims with promises of substantial returns on modest investments and compensation for rating hotel advertisements.

The fraudulent operation employed a multi-level structure to ensnare its victims. It began by offering a quick profit of Rs350 on an initial Rs1,000 investment, along with Rs50 for each hotel advertisement rated. As participants gained confidence, they were enticed to invest larger sums, with assurances of 75 percent returns on investments of Rs1 lakh or more.

At the heart of this local scam was reportedly Rajesh, a contract employee and computer operator at Palamaner Municipality. Leveraging his connections with MEPMA resource persons, self-help group members and government employees, he allegedly recruited over 300 individuals into the scheme.

The scam’s true nature became apparent when the app ceased to function, leaving investors in financial ruin. Many victims, convinced of the scheme’s legitimacy, had borrowed money or pawned valuables to invest between Rs1 lakh to Rs2 lakhs.

Upon realising they had been defrauded, victims filed complaints with law enforcement and district authorities. In response, Chittoor district Collector established a committee led by MEMPA PD A Radhamma, CI Chandra Shekhar and RDO office DT Rajyalakshmi to investigate the matter. By Tuesday, over 375 individuals had reported losses amounting to nearly Rs6 crore, with this figure expected to increase further.

Rajesh, purportedly the regional manager of the scam, has absconded. Local police are actively searching for him, while municipal authorities have issued a show-cause notice. The scam’s reach extended beyond the local community, affecting software professionals from cities like Bengaluru and Chennai who were introduced to the scheme through Rajesh’s network.

ABOUT THE AUTHOR

Pradeep Vennelakanti

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