A Quest to cheat public!
“Raise Yourself To Help Mankind” –– was the slogan coined by Quest Net Limited to spread its alleged “swindling network” across Karnataka and other parts of the country to cheat the public of several crores of rupees.
Police said this internet-based network marketing company was offering absurdly high returns to its investors. Falling into the trap, nearly 6,000 people from across Karnataka, including 811 from Bangalore city alone, had invested.
When it was time to refund the money, the company just packed up. Investors lodged complaints at various police stations and the High Grounds police received the maximum number of complaints.
“Altogether we have received 811 complaints. We are trying to get the money refunded to the people,” said Lokeshwara, the High Grounds police station inspector.
People who were associated with the firm were asked to register online with the firm and in return they were given an ID number. Since there was absolutely no paper work, there is no solid proof that people had put their money in the firm. The company had around 25 branches across Bangalore, said an investigating police officer.
One Pushpam Appal Naidu is the director of the firm while its Karnataka chief is Srikanth. Police have detained Srikanth. So far, around 300 demand drafts have been dispatched to the investors and a few more will be sent on Friday, said police sources.
Source:Deccan Herald
http://www.deccanherald.com/Content/Feb222008/state2008022253598.asp
Police said this internet-based network marketing company was offering absurdly high returns to its investors. Falling into the trap, nearly 6,000 people from across Karnataka, including 811 from Bangalore city alone, had invested.
When it was time to refund the money, the company just packed up. Investors lodged complaints at various police stations and the High Grounds police received the maximum number of complaints.
“Altogether we have received 811 complaints. We are trying to get the money refunded to the people,” said Lokeshwara, the High Grounds police station inspector.
People who were associated with the firm were asked to register online with the firm and in return they were given an ID number. Since there was absolutely no paper work, there is no solid proof that people had put their money in the firm. The company had around 25 branches across Bangalore, said an investigating police officer.
One Pushpam Appal Naidu is the director of the firm while its Karnataka chief is Srikanth. Police have detained Srikanth. So far, around 300 demand drafts have been dispatched to the investors and a few more will be sent on Friday, said police sources.
Source:Deccan Herald
http://www.deccanherald.com/Content/Feb222008/state2008022253598.asp
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