Mahbubnagar SP cautions people to beware of online fraudsters
B Anuradha, Superintendent of Police, on Thursday cautioned the people to beware of online multi-level marketing fraudsters in the district. She said...
Mahbubnagar: B Anuradha, Superintendent of Police, on Thursday cautioned the people to beware of online multi-level marketing fraudsters in the district. She said the fraudsters are luring gullible people to invest into online chain marketing business by offering attractive returns for their money.
The SP said the public must be aware of such fraudulent persons and if anyone is trying to indulge or spreading false information should be soon brought to the notice of the police, so that the people could be saved from them.
The Mahabubnagar rural police arrested two persons in connection with an online multi-level marketing fraud and recovered Rs 6.70 lakh from the accused in addition to freezing their bank accounts worth Rs 47.41 lakh.
The modus operandi of the multi-level online chain business marketers is they open a website and start multi-level marketing business. They would lure gullible people to invest money in return for higher returns.
In the similar business Malavath Laxman, a native of Lingampet village in Kamareddy district, had opened a website named CCTC global.com and started the online multilevel chain business.
As part of this, he attracted the people to deposit Rs 12,000 from each person. Supporting this business Vijay Pratap Reddy, a native of Mahbubnagar, managed to enrol 200 members in to the business collecting an amount between Rs 1 lakh and 2 lakh from interested people. Initially some people were given Rs 20,000 as commission for investing Rs 1 lakh and Rs. 40,000 for investing Rs 2 lakh, the police said.
Acting on the complaint, the police acted swiftly and arrested Malavath Laxmaan and Vijay Pratap Reddy and booked cases under section 420 of IPC and section 67 of Information Technology Act.