Daijiworld Media Network – Mangalore (RJP)
Mangalore, Sep 27: A white man, probably an American sits with a laptop beside a giraffe. The giraffe has bunches of money around it. The man tells us that “Follow me for your financial growth and financial freedom.”
This is the literature found with the graphics in the website of Vraksha Business solutions headquartered in Mangalore. The message is loud and clear that the investors would make more money with Vruksha Business solutions.
But that was not the case. The people who ‘followed’ the company for ‘financial freedom’ are spending sleepless nights and are in a ditch now.
This is the story of Vriksha Business solutions whose two directors were arrested yesterday.
Roshan and Jeevraj
Vraksha Group was started by Jeevraj Puranik, Roshan D'Souza and Venugopal, in 2006. Over the time with false promises the company managed to employ ten thousand agents on a lucrative commission. The agents collected money for the firm with false promises taught to them by the directors.
As per the information gathered, the company had collected over Rs 90 crore before closing its shutters. After the agitations started by the agents and depositors the company paid back Rs. 35 lakhs in 2 instalments to some of its depositors though exact amount and number of depositors who received the money are not known.
The company website has very small information. The website addresses its investors as “Dear Citizens” as if it is targeting all the citizens of India as its preys. The website uses incorrect English, but the words are sweet enough to cheat ordinary investors.
“We, the people of this great democratic country have an ambition or a great dream to see our country as a self reliant and a powerful nation in the world. So, in order to make this dream come true, we must develop our country in the important fields like 1.Agriculture 2.Industry 3.Economy.” The words on the surface seem to have been copied from the manifesto of a political party.
“In the present scenario (Global Recession), every one of us is reeling under debts in one way or the other, unless every one of us become financially strong, this dream is hard to realize or to be fulfilled.” The words flow easily.
The company itself finds ‘the way out’ for the problems listed by it.
“What you save is what you earn. As we all know that there are many financial companies, which give big promises but in fact none of them bothers about small saving people/common man. Remembering all these facts in mind, we the Vraksha Business Solutions India Ltd. presents you our most profitable and ever offered by anyone so far to meet every people's need.” What a beautiful words.
The ‘Contact us’ page of the website gives the physical addresses of many offices in Bellary Katpadi, Puttur,Bangalore, Mysore, Uppala and Hubli.
There is a photo gallery in the website. Many Photos of various offices including that of Tumkur branch are posted here. .
The website does not give any information about its directors. It claims that its Corporate Office located in Mangalore and that it has branches at Kolkota, Bangalore, Katapady-Udupi, Hubli, Bellery, Puttur, Mysore and Uppala. Then in the breath it also claims that “We are operating business in over 24 states, and shortly opening new branches and collection centres all over India.”
The company tells us that it invests its collected funds in Real Estate, Land Developing, Constructions, Joint Venture, Blue Chip Stocks, Gold Bonds, Hotel and Resorts, Agriculture, Dairy Farming, Hyper Markets etc.
The website has the video advertisement of the hypermarket it ran in the Mischief complex. The hypermarket which projected itself as a multinational company, attracted a good crowd in the beginning closed its shutters some months back.
Flash news in the website shows some results of gold draw held on 15/04/2014.
The customers and agents of the firm had staged a protest in front of the DC office on Sep 25 demanding the arrest of the directors. Some even threatened that they would commit suicide.
Now two of the suited booted directors are in judicial custody and the third one is still at large. God knows when the depositors will be paid as nobody has ever recovered complete money lost in these types of companies