Mangalore: Major Fraud Case Exposed – Investors at Utter Loss
Pics: Savitha B R
Daijiworld Media Network – Mangalore (PS/VA)
Mangalore, Mar 4: With the high expectations of gaining double the amount invested, around 2,000 people have suffered a huge loss in the city falling prey to a major fraud in the form of investment scheme.
The hoax came to a light on Friday March 4 leaving the investors in utter shock. One Global Index Investment Company operating in Mahendra Arcade complex, Karangalpady here has duped the people who ventured into deal with them in which they were assured of double returns for their investment.
It is said that the company was operating since one year but from past two months they stopped paying the amount that was promised. The company was previously named as Index daily. With this regard Shekar Bhat alias Purushotham Bhat (43) resident of Shishila in Belthangady taluk and Ashok Kumar (44) resident of Kottara (native of BC Road) have been arrested.
Furious at being duped, around 100 people have gathered near the Kadri police station to lodge complaint about the matter. Most of them are from Puttur.
The owner of the company is not exactly known yet though it is said the firm has tie up with a Malaysian finance company. One Sushanth who invested Rs 60 lac was deceived and he was the first o register the complaint. Just a day ago Sujan from Panambur also registered a complaint.
Earlier to gain their interest towards the scheme the company was paying the money. This made more people to get attracted towards the scheme. But there was no receipt being given to them in return, instead they were given ID cards.
Two more persons Praveen Shetty and Vasanth involved in the fraud are absconding, police said. They suspect them to be in Bangalore or Chennai. It is one of the major frauds as the investors are at a loss of over crores of rupees. The prime owner who is yet to be traced is also absconding.