Investment Scam: Businessman Duped of Rs 36 Lakh, Given 'Children Bank Notes'

• A businessman from Medchal Malkajgiri district was swindled out of Rs 36 lakh in a real estate investment fraud.
• Fraudsters promised a Rs 40 crore investment, demanding Rs 36 lakh cash for stamp duty and agreement expenses.
• Victim Hanumantha Reddy met the accused in Mumbai, Bengaluru, and finally Vijayawada.
• At PVP Mall in Vijayawada, the accused took Rs 36 lakh cash and handed over a suitcase filled with 'Children Bank Notes'.
• Machavaram police registered a case and are investigating based on CCTV footage.

Key Question Answered

What warning did police issue after the Vijayawada 'Children Bank Notes' scam?

Police have warned the public to be cautious of investment scams that lure victims with promises of high returns, only to hand over counterfeit "Children Bank Notes".