Over Rs 5 Cr Duped from Depositors Through Money Multiplying Scam by Fake App

Nayagarh: Hundreds of gullible depositors in Odisha’s Nayagarh district were duped of more than Rs 5 crore by a dubious mobile app named ‘APM Terminals’.

According to the victims, this app promised an astonishing return of Rs 55,000 for a deposit of Rs 5,000.

The money multiplication fraud came to the fore when some duped depositors lodged a complaint with Nayagarh police.

Police have launched a probe, and have detained two persons from Nayagarh for interrogation in relation to the scam.

This fake app promised that by depositing Rs 5,000, the depositor will get Rs 1,000 return every day as well as Rs 5,000 on special days and festivals.

According to police sources, people from other parts of Odisha and outside must have been cheated by this online racket.