Udupi: Fake chain link company accused of pocketing Rs 10.5 lac

Daijiworld Media Network - Udupi (SP)

Udupi, Mar 27: The town police here have received a complaint of fraud against a chain link company. The complainant, K Vishwanath Shetty from Baidabettu here, says that he has been cheated by the chain link company, by not refunding Rs 10,50,000 he had deposited with it. 

He has named Tapas Rai and Sunil Kumar, directors of E-Fame Adsense Pvt Ltd, and Kulvinder Singh, area representative of Allhit Deals scheme, as the accused.

Apparently, Shetty was lured by the advertisements given by the said company through television and internet sites. He said he came in contact with the above persons in Mangalore through a person named Deepak Shetty. The accused are said to have promised Shetty that he can earn Rs 3,100 per month, just by investing just Rs 7,000 with it, and that he can increase his earnings manifold, by adding more and more people through the chain link system.

“Lured by the advertisements and the verbal promises of the accused, I added over 150 members to the scheme in July, 2012. In return, I was paid only Rs 3,100 once in December. At the time I joined the scheme, I was issued a registration letter, and an agreement had been entered into with the company’s office in Mangalore. The total investment made in the company by me amounts to Rs 10,50,000. The company, without repaying the said sum, stopped functioning since December 2012. When I visited the registered office of the company at New Delhi, I came to know the company was fake,” Vishwanath Shetty explains in his complaint.

Shetty has also said that many others too were duped by the company likewise.