Five people from Bengaluru cheated of Rs 1.8 Cr in fake investment scheme

Bengaluru: Five people from Bengaluru were cheated of Rs 1.8 crore in a fake investment scheme. The accused gang had promised them 3% to 8% returns per month, leading them to invest crores of rupees.

As per one of the complainants Amit Prakash Tripathi (46), a resident of Doddanekkundi, a man named Rakesh urged him to invest money in his firm and promised 7%-8% returns.

Amit initially invested Rs 1 lakh and on May 23 he invested Rs 75 lakh along with Rs 3.5 lakh of his wife’s money.  A mobile application was provided by the accused to check the details of his funds. On June 4, it was found out that his fund value had gone to zero.

While Amit approached the accused, he claimed that their company had incurred huge losses and hence the fund was zero.

Similar complaints were lodged by Nandakishore Joshi (48) of JP Nagar who lost Rs 35 lakh, Sandeep Singh (52) of JP Nagar who lost Rs 10.8 lakh, Shesh Prasad N (42) of Rajarajeshwarinagar who lost Rs 48 lakh, and Pavan Kumar NN (40) of JP Nagar who lost Rs 7.4 lakh to the accused.

Further investigations are underway.