Archive · 24 Jul 2025
Thousands Duped in 'Spin Gift' Scam in Madanapalle
People in Madanapalle were tricked by a company called 'Aara' with a 'Spin Gift' scheme.
They promised daily money and gifts if people invested money, ranging from Rs 2,000 to Rs 20,000.
Many people joined, hoping to get phones, laptops, and even cars.
But the company stopped giving out money and gifts, and the scheme fell apart.
Now, lots of people are upset because they lost their money.
The police are looking into what happened to find out how many people were affected and how much money was taken.
They are also warning people to be careful of schemes promising quick money.
Thousands of people in Madanapalle were allegedly cheated in a 'Spin Gift' scam.
The scheme, promoted by 'Aara', promised daily returns and gifts for investments.
Victims invested between Rs 2,000 and Rs 20,000, expecting returns and luxury items.
The scheme collapsed, leaving investors without promised money or prizes.
Police are investigating the scam, which may extend beyond Madanapalle.
- Who
- Over 6,000 individuals were allegedly duped, with Mohan Babu as the alleged mastermind.
- What
- A financial scam named 'Spin Gift' that promised returns and gifts in exchange for investments.
- When
- The exact timeline is not specified, but the scheme recently collapsed.
- Where
- Madanapalle, Annamayya district, with potential reach in other regions.
- Why
- The motivation behind the scam was to defraud people of their money, promising high returns.
- Scheme Name
- Spin Gift
- Promoter
- Aara (private entity)
- Alleged Mastermind
- Mohan Babu
- Investment Range
- Rs 2,000 - Rs 20,000
- Promised Returns
- Daily income and luxury gifts
- Location
- Madanapalle, Annamayya district
- Victims Count
- Reportedly over 6,000