Wed May 07 00:50:00 UTC 2025: **Andhra Pradesh: Hundreds Swindled by Tamil Nadu Marketing Company’s Ponzi Scheme**
Patamata, Andhra Pradesh – Hundreds of investors have fallen victim to an alleged Ponzi scheme run by a Tamil Nadu-based marketing company operating under the name “Maitri App.” The company promised investors lifelong daily returns of ₹480 for a one-time investment of ₹1.22 lakh.
According to police reports filed in Patamata and Gunadala, the company, operating out of an office in Etikapadu, initially paid the promised daily returns for two months. However, payments ceased in February 2024, with the company citing reasons like election code restrictions and ED raids. The Maitri app was subsequently shut down.
Victims claim that the company incentivized them to recruit new investors, offering a commission of ₹200 per referral. To receive their daily payments, investors were required to watch and respond to questions about promotional videos on YouTube. Payments were credited to a digital wallet within the app, transferable to bank accounts only once a month.
Now, with the company’s office deserted and employees unreachable, at least 28 victims have filed complaints with local police. Patamata police have confirmed the complaints and stated they are investigating, gathering information from bank account details. The investigation is ongoing. Police warn citizens to exercise caution when engaging with such investment schemes promising unrealistic returns.
First Piper 