Karimnagar Police Arrest 4 in Online Fraud Case

Karimnagar: The police officials have arrested four individuals who are involved with a large-scale fraud case indulged in a fake online trading company named ‘Meta Found’ here in Karimnagar on Thursday.

Karimnagar police arrested four persons on Thursday for their involvement in a large-scale fraud linked to a fake online trading company, Meta Found.

According to police commissioner Gouse Alam, the main accused, Varala Lokeshwar Rao of Hyderabad, lured people with promises of tripling their investments through his online scheme. To operate in Karimnagar, he collaborated with local residents Boora Sridhar, 55, Tulasi Prakash, 56, Dasari Ramesh, 59, and Dasari Raju, 39.

The gang cheated eight victims of Rs.54.65 lakh. Police said money was collected at Sri Rama Timber Depot, where victims were also issued fake IDs to make the scheme appear genuine.

While Lokeshwar Rao remains absconding, a manhunt has been launched to track him down. The four accused have been remanded to judicial custody.

The commissioner cautioned people against falling for triple-profit offers, fraudulent trading platforms, and similar scams. He commended the Central Crime Station (CCS) team led by inspector R. Prakash, sub-inspectors T. Tirupati and N. Ramesh, head constable Hasan and constables Anila and Khalifa for swiftly cracking the case.