Hyderabad, Sept. 2 -- The Hyderabad Cyber Crime Police arrested a person from Visakhapatnam for his alleged involvement in an IPO allotment investment fraud that duped a city resident of Rs 43 lakh. Police seized two mobile phones, two SIM cards, three passbooks, seven debit cards, and 13 cheque books from him.
The accused, identified as Bobbari Srinivasa Rao, a housing loan agent from Gandivanipalem, Visakhapatnam district, is involved in 19 fraud cases across the country, including two in Telangana. Police said he operated as an account holder and account supplier in the racket.
According to a police statement today, a 63-year-old victim received a WhatsApp message from a group posing as "AXIS Security" falsely linked to Axis Bank offer...