Rajkot: A company in Kandorna Taluka Hours from Rajkot District cheats several customers with a PONZI scheme since 2018.
When depositors approached for payment, the company refused to pay them with bad business pretext due to demonetization.
However, when the company failed to pay even after the promised time, an investor first approached Congestion of Kandora who was seeking help, but when the police did not register the case, he sought assistance from a local court who ordered the police to submit a violation in this matter.
Complantinant Cariben Bagda told the police that he had deposited the RS 33,000 in 2011 with a company called Welcome Real Estate and Buildcon Private Limited.
The company has drifted various deposit schemes including a monthly, quarterly, semi-year and annual scheme and also appoints agents to convince people to invest in them.
The company promises to double the number of investments in five years, where the complainants have also invested.
But when he went to take a maturity number in 2018, the company said it was because their demonetization could not pay and ask him to wait around six months.
However, Bagda did not get the money back and finally in 2020 approached the police.
But the application was not quite tempting the police to start an investigation.
Finally, he registered a personal complaint with the court ordered the police to register his complaint.
The police found 20 more victims such as Bagda and initiated the process of recording their statements and verifying the document.
Police believe the number of fraud can rise because the investigation took place.
Ponzi companies discuss a lot with a profitable scheme
