Beware of new online fraud;
police cautions public
Hyderabad: Andhra Pradesh Crime
Investigation Department (CID) on April 21 cautioned people not to fall prey to
the new online fraud unleashed by Sergei Mavrodi, a Russian, who was earlier
arrested in several criminal cases and underwent a term in prison.
Additional Director
General of CID T Krishna Prasad said that Sergei has been promoting Mavrodi
Mondial Moneybox (MMM) scheme through the website www.mmmindia.in,
promising 100 per cent interest per month on the investments made by the
people.
Minimum amount of deposit
starts from Rs 5,000 while a member would be allowed to deposit a maximum of Rs
50,000.The Russian has been luring and duping gullible people claiming that the
deposits were being collected for a social cause and to provide a platform for
the like-minded people to help each other, the CID chief said.
The Russian claims on the
website that Mavro is like any currency. It has two different exchange rates –
one for selling and one for buying. The members could sell or buy Mavro using
the special automatic software on the official website and the exchange rates
would be decided by Sergei twice a week.
The website says deposits
would be confirmed only after the member transfers full amount intended to
deposit. The deposit would be released only after one month from the date of
purchase, but it could be sold even before release at zero per cent interest
rate, the website says.
The CID chief said that the scheme was already
prevailing in Maharashtra, Gujarat and Punjab and was likely to enter Andhra
Pradesh. Hence, he appealed to the people of the State not to fall prey to the
bogus scheme.
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