ETV Bharat / state

Andhra Pradesh Businessman Duped Of Rs 1.16 Crore In Trading Scam

The police officials have been investigating the accused's online operations and the websites used in the alleged scam

Kanigiri: A businessman in Andhra Pradesh’s Kanigiri has been cheated of Rs 1.16 crore by a woman, who posed as a trading expert on social media, police said on Tuesday.

According to Circle Inspector (CI) Sheikh Khajavali, the accused, Sharanya Reddy, runs a bike showroom on Kandukuru Road. She allegedly contacted the victim through Facebook and gradually gained his trust over a few days. When the victim believed her credibility, he initially invested Rs 50,000 through a website suggested by her. Sharanya then showed him fabricated proof of returns, and the victim deposited R

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