4 IIT dropouts among 9 held for â¹30-crore scam in Hyderabad
Four IIT-Kharagpur dropouts are among nine persons arrested by Cyberabad police in connection with floating a fraudulent multi-level marketing company in Hyderabad and collecting â¹30 crore in past two years. The accused enrolled over 40,000 distributors in Andhra Pradesh and Telangana. The distributors, who paid a minimum of â¹4,000 for enrolment, then targeted unemployed youth and elderly people.