Letter: Fraud collected around Rs 1.5 Crore from nearly 15,000 students promising their tablets worth RS4,500 only for RS 1,000 a little.
The police ordered three were accused of Wednesday involved in online marketing gimmick and operated a fraud racket since October 2020.
The owner of Yash World Private Ltd, Savan Kheni, his father Thakarshi and Mitra Ashwin Vaghani was ordered for allegedly running rackets from their office in the World Tower Diamond in Mini Bazaar in Varachha.
The defendant was given anticipatory guarantee of seven days by a local court on Wednesday, after that the police could arrest them.
Fraud was revealed when several people began asking questions, both online and offline, about not receiving tablets despite paying a few months ago.
Initially around 7,000 victims approached the police, but then the number grew to 15,000.
“Because of knowing that it was a scheme of fraud, many people began to approach the police.
The defendant claimed that they provided around 15,000 tablets to buyers but then their funds dried up and they could not manage more gadgets,” said a police officer toi.
The defendant bought a tablet for Rs 4,500 and offered it for RS 1,000 to students.
“They have planned to enter into contracts with Google to run certain ads on tablets that they expect to receive good money.
They should sell at least 5 Lakh tablets, only when the contract will apply,” the police said.
Allegations claimed to make a mistake in calculating the initial investment.
The police posted the defendant under various parts of the Indian criminal code including fraud, criminal violations of trust and also part of the Gujarat interest protection law (in financial establishment).