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Scams in the IT sector are nothing new. We frequently hear about businesses that vanish after embezzling public funds. In the most recent instance, a software business with headquarters in hyderabad changed the game after embezzling funds from over 600 job seekers. Going into specifics, a firm situated in Madhapur's ayyappa Society demanded Rs. 1.5 lakh from each applicant on the condition that they would be given excellent positions following training.
But, the firm deceived the candidates by claiming to give placements once the training was completed, but they never did and never sent any money. The business was abruptly shut down. The victims went to the madhapur police Station and lodged a complaint after learning they had been conned.
According to one of the victims, the firm demanded an upfront payment of Rs. 1.5 lakhs from the prospective applicants, with the promise of employment following three months of training. Additionally, the organization assured the candidates that it would hire them at a salary of Rs. 15,000 per month, with the option to increase it to Rs. 25,000 later on. Nevertheless, the business defrauded the enrolled individuals and stole all of their money after offering the training. It was discovered that the accused business also has branches in vijayawada and Bengaluru. The police have opened a file and are looking into the situation.