Archive · 17 Aug 2025
Vijayawada Police Arrest Three in ₹353 Crore UPIX Scam
A company called UPIX Creations tricked people into investing money by promising big returns from animated movies.
They said if you invested a certain amount, you'd get double the money back in a year.
However, they took the money and spent it on themselves.
The police caught three people involved and found gold, silver, cars, and other items.
Nearly 200 people were cheated out of a lot of money.
The police are investigating.
Vijayawada police arrested three individuals in connection with a ₹353 crore UPIX cheating case.
The accused lured investors with promises of doubling their investments within a year.
UPIX Creations, an animation company, falsely claimed to be involved in Hollywood film projects.
Approximately 183 investors were reportedly cheated out of around ₹353 crore.
Police seized gold, silver, a car, a bike, and froze bank accounts.
- Who
- Nidumolu Venkata Satya Lakshmi Kiran, Mittapalli Rajendra Babu, and Mittapalli Rajeev Krishna were arrested.
- What
- A fraud case where investors were cheated by UPIX Creations.
- When
- The investment scheme started around 2018 and continued until the end of 2024.
- Where
- Vijayawada, Narasaraopet, and Guntur.
- Why
- The accused diverted investor funds for personal use instead of investing in animation projects as promised.
Investors
Accused
Financial Loss
Investors
Victims lost their money through fraudulent schemes.
Accused
Perpetrators of the fraud gained from the investment schemes.
- Company
- UPIX Creations
- Arrested
- Nidumolu Venkata Satya Lakshmi Kiran, Mittapalli Rajendra Babu, Mittapalli Rajeev Krishna
- Victims
- Approximately 183
- Amount Cheated
- ₹353 crore
- Assets Seized
- ₹90 lakh gold, 21 kg silver, car, bike
