Archive · 2 Sep 2025
Hyderabad Police Arrests Man in ₹43 Lakh IPO Allotment Fraud
A man in Hyderabad was tricked into giving ₹43 lakh to scammers.
The scammers pretended to be from a bank and offered him a chance to invest in IPOs (new company stocks).
They showed him fake profits and made him pay extra money, threatening to freeze his funds if he didn't.
The victim realized it was a scam and reported it.
Police arrested a 34-year-old man from Visakhapatnam who was involved in the fraud, along with other cases.
The police have warned the public to be careful of similar investment scams.
Hyderabad Police arrested Bobbari Srinivasa Rao in connection with an IPO allotment fraud.
The fraud involved a 63-year-old person who invested ₹43 lakh.
Rao was involved in 19 cases across India, including 2 in Telangana.
The scammers offered fake IPO allotments and trading opportunities.
Police seized mobile phones, SIM cards, passbooks, debit cards, and cheque books.
- Who
- Bobbari Srinivasa Rao, a 34-year-old man from Visakhapatnam, and a 63-year-old victim.
- What
- Rao was arrested for a ₹43 lakh IPO allotment fraud.
- When
- The fraud took place between July 12 and early August 2025.
- Where
- Hyderabad and Visakhapatnam, Andhra Pradesh.
- Why
- Rao and his accomplices offered fake IPO allotments and trading opportunities to the victim.
Victim
Fraudsters
Investment Promise
Victim
Believed the investment opportunity.
Fraudsters
Offered fake investment opportunities.
Financial Loss
Victim
Suffered a loss of ₹43 lakhs due to the scam.
Fraudsters
Gained ₹43 lakhs through fraudulent means.
- Accused
- Bobbari Srinivasa Rao
- Age
- 34
- Location of Accused
- Visakhapatnam, Andhra Pradesh
- Victim's Age
- 63
- Amount defrauded
- ₹43 lakh
- Type of Fraud
- IPO Allotment Fraud
- Number of Cases Rao involved in
- 19
