Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Jan 9: A person accused of collecting crores of rupees by offering the lure of commission and multiplying investments, stands arrested. He was taken into custody by the police personnel of Subrahmanya Nagar station here.

The arrested accused happens to be Sandesh Kumar Shetty (29), owner of the Trillionaire Mindworld Venture Pvt Ltd having its office at the Brigade Gateway, Malleshwaram here. The police said that hundreds of complaints are being received from people who claim to have invested money after having been enticed by the accused. So far, 20 complaints have been registered and investigation is in progress.

Sandesh Kumar Shetty

Sandesh is from Kundapur. He had opened his office at the Brigade Gateway complex at Malleshwaram here during July 2018. He targeted mainly the students and young investors. He had offered to gift clothes, weight loss powder, beauty products and other items if a memberships are secured with an initial investment of Rs 15,000.

Many students, who felt that they can bag part time jobs as salesmen to make some money, had invested money in his company. Later, he offered tour package and educational funding if further amount of Rs 18,000 is invested. He also offered higher commission if chain link members are brought in. People believed him and brought investments from friends and relatives. Since the very beginning, Shetty failed to keep the promise of gifts and gave one or the other reason to postpone payment. He later said his company was in loss because of coronavirus lockdown but led a luxurious life. When investors sought their money back, he posed death threats, after which investors approached the police.

He had given some beauty products and exercising equipment to some investors but none of them were approved by the central government. Many of the products were substandard. When his attention was drawn to this, he used to say that selling in the open backed by advertisements makes the products costlier and chain link sales enables people to get good items at cheaper rates.