Kundapur: Company cheats customers of crores in weekly installment collection scheme

Daijiworld Media Network – Kundapur (MS)

Kundapur, Feb 2: An organization which collected money from customers on weekly instalments promising them hefty returns conned them to the tune of several crore rupees.

Ratna, resident of Thoralli Nadumane of Kundabarandadi village filed a complaint with police. She was a member of the Padma Royal Challenge scheme, owned by Padma Hegde.

According to details of the complaint, Padma Hegde and Mookambu asked complainant Ratna to be a member of their business and they will pay her Rs 20000 salary if she keeps a deposit of Rs two lac. Ratna kept Rs two lac deposit and also made 131 customers join the company. She was promised a commission of Rs 100 for every new customer she makes join the company.

Gangolli police station (file photo)

The company promised to pay the customers Rs 34000 if they pay 50 instalments of Rs 500 per week, Rs 68000 if they pay 50 weekly instalments of Rs 950, Rs 17000 if the customer pay 12 monthly instalments of Rs 1000, Rs 34000 for payment of monthly instalments of Rs 2000 for 12 months, Rs 80000 for one year deposit of Rs 50000 and Rs 1.60 lac for deposit of Rs one lac for one year.

The collected money was kept in the office of Padma Hegde at Bagwadi. The money was received by Padma Hegde, Selvaraja, Dishant Hegde, son of Padma Hegde and Suhani Hegde, daughter of Padma Hegde duly putting their signatures. Ratna used to sign the card in which the customers had paid the instalments. She used to keep the money in deposit and provide an agreement letter.

The company did not pay Rs 24.05 lac to Sujata and her customers, Rs 5.92 lac to Subhash and his customers, Rs 7.87 lac to Bhagyashree and her customers, Rs 4.05 lac to Revati and her customers, Rs 3.94 lac to Deepa and her customers, Rs 11.05 lac to Raghavendra Poojary and his customers, Rs 2.14 lac to Bharati and her customers, Rs 3.90 lac to Saroja and her customers, Rs 76300 to Savita and her customers and Rs 2.5 lac to Susheela and her customers. The total amount that the organization cheated is Rs 10760615.

In June 2022, the organization adopted Kundabarandadi government higher primary school for five years and recruited six guest teachers and two ayahs and promised to pay them salaries. It also promised to provide fundamental infrastructure to schools. But defaulted on both and did not pay salaries to teachers and Ayahs.

A case in this connection is registered in Gangolli police station.





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Comment on this article

  • Gibbs, Udupi/Bengaluru

    Thu, Feb 02 2023

    Wow Con Woman PADMA HEGDE!!! Definitely she has greed and Political influence!!! Small finance firms or chit fund installment agencies, cheat the poor and innocent people in the villages OFFERING THEM BOUNTIES!!! Money Machines or Money LOOTERS!!! Money @ any cost? GREED TO BECOME MILLIONAIRES!!! Government and the supervising authorities are not taking appropriate action so these people are flourishing.

    DisAgree Agree [5] Reply Report Abuse

  • Agnes, Mangalore

    Thu, Feb 02 2023

    What has happened to the people of Dakshina Kannada gone are the days when they were considered intelligent. Nowadays they get easily fooled by politicians and fraud people.

    DisAgree Agree [4] Reply Report Abuse

  • Jossey Saldanha, Raheja Waterfront

    Thu, Feb 02 2023

    Adani is also operating in Mangalore ...

    DisAgree [1] Agree [13] Reply Report Abuse

  • real kujuma, kodial

    Thu, Feb 02 2023

    is this called Pathhis jihad?

    DisAgree [2] Agree [8] Reply Report Abuse

  • Felix Pinto, Koteshwara

    Thu, Feb 02 2023

    If world's 3rd richest thief can steal billions of rupees from the public with the help of topmost authorities, this mere one crore swindled by Padma madam is negligible. At least we now have one Crore-pati among us.

    DisAgree [4] Agree [17] Reply Report Abuse

  • Rajesh B Shetty, Udupi

    Thu, Feb 02 2023

    There were so many scams & frauds in so many yrs. I don't understand why people fall into these traps.

    DisAgree Agree [26] Reply Report Abuse

  • Shreenath, Mangalore / Bahrain

    Thu, Feb 02 2023

    For easy money.

    DisAgree Agree [6] Reply Report Abuse

  • prakash, Manipal

    Thu, Feb 02 2023

    Greed is the route cause of misery.... Conmen are everywhere in society... they are like wild animals... They will prey on you only when you offer yourself to them.... Few will have single motive of cheating... Few others will have larger than life plans which fail to materialize... It is necessary to limit our wants...

    DisAgree Agree [16] Reply Report Abuse

  • Rolf, Dubai

    Thu, Feb 02 2023

    Anand, Surathkal Thu, Feb 02 2023 This person is digging two graves , one for himself and the other for BJP .

    DisAgree [7] Agree [6] Reply Report Abuse

  • Fayaz Ahmed, Mangalore/Dubai

    Thu, Feb 02 2023

    Cheating is thought by our so called good politicians promising ache din Same adopted by our citizens to make there ache din. So were there is wrong

    DisAgree [5] Agree [17] Reply Report Abuse

  • Mangalurian, Mangaluru

    Thu, Feb 02 2023

    Padma Royal Challenge has becomes Padma Royal Fraud? Blade companies will always be blade companies. Their gains must be through lending to the short-term share-market investors. No matter how you look at it, people hoping for big returns quickly are big losers.

    DisAgree Agree [22] Reply Report Abuse

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