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The Cyber Crime Wing of Hyderabad Police arrested Bobbari Srinivasa Rao (34) from Visakhapatnam district, Andhra Pradesh, for his involvement in a Rs43 lakh investment and IPO allotment fraud.
Investigations revealed that Rao is connected to 19 similar fraud cases across India, including two in Telangana. Authorities are probing further to uncover the full extent of his operations.
Police have advised the public to be vigilant when investing in IPOs and other financial schemes, and to verify all credentials thoroughly to avoid falling victim to such scams.
