Amavaravi: Vijayawada Police Arrest Two in ₹300 Crore Fraud
A massive financial scam in Vijayawada, involving Adhvika Trading Company, has come to light following a complaint by a Hyderabad-based software engineer, prompting swift police action. Authorities have detained two suspects, including the company’s key operator, Adithya, as investigations reveal losses of approximately ₹300 crore affecting 1,200 investors. The case underscores the growing prevalence of fraudulent investment schemes exploiting public trust.
Modus Operandi of the Scam
Adhvika Trading Company lured investors with promises of high returns, offering ₹6,000 monthly interest on a ₹1 lakh investment. The aggressive promotional campaign attracted significant public participation, leading to substantial capital inflow. However, the company abruptly ceased operations, raising suspicions of deliberate fraud.
Scale of Financial Damage
Preliminary complaints indicate that around 1,200 individuals invested nearly ₹300 crore in the scheme, expecting consistent returns. Victims, drawn by assurances of lucrative profits, now face significant financial losses. The scale of the scam has alarmed authorities, prompting a thorough probe.
Police Action and Investigation
Following the software engineer’s complaint, Vijayawada police detained Adithya and another individual linked to the company. Ongoing interrogations aim to uncover the full extent of the operation and identify additional perpetrators. Authorities are also examining the company’s financial transactions for evidence of misappropriation.
Public and Regulatory Response
The incident has sparked widespread concern, with posts on X reflecting public outrage and calls for stricter oversight of investment firms. Victims have urged authorities to recover their funds and hold the culprits accountable. The case highlights the need for enhanced regulatory mechanisms to curb such frauds.
Broader Implications
This scam follows a pattern of similar frauds in the region, including a ₹14 crore investment scam in March 2025 and a ₹5 crore cyber fraud in August 2024, both reported in Vijayawada. These incidents underscore the urgency of public awareness and robust financial safeguards to protect investors from predatory schemes.