20 people duped of Rs. 25 lakhs on the pretext of high interests in Krishna district

A huge fraud was exposed in Gannavaram of Krishna district of Andhra Pradesh where a gang duped people saying that they will be paid an interest of Rs. 9000 if deposited Rs. 36,000 for three years at the rate of Rs. 1000 per month.

As part of the scam, the gang issued the passbooks in the name of Adarsha Cooperative Society Bank passbooks after depositing money. The victims complained that the money was not returned even after three years and asked the gang about their money.

However, they threatened the victims asking them to do what they want. The victims approached the Gannavaram police saying they were cheated. As many as 20 people who were cheated by this organisation came to the police station.

The police have found that they have collected up to Rs. 25 lakhs from 2017 till now. When the victims went to the cooperative bank where they had deposited their money in the past, the victims were very worried because there was no such bank. The victims expressed concerns as their hard-earned money was looted.