Sunday, 30 August 2009

Do not fall for high rate of interest on deposits offered by fly by night operators

The other day I have seen an advertisements in the classifieds of an English daily newspaper. Of course, these classifieds are the ground for many fraudulent schemes and the advertisements are accepted by the mamagements only to make money. They never care to verify whether they are legal or not.
The advertisement I am referring to has invited people to invest Rs. one hundred thousand with the company and earn Rs. 1,250 every day for one hundred days. That means, the investor would get a return of Rs. 25,000 on his investment of Rs. 100,000 in one hundred days. I immediately called the company to find out what they are going to do with the money. A person told me that the company would invest the funds in the Forex Market and the profits would be distributed to the investors. I wanted to know whether the company had the permission from the Reserve Bank of India to mobilise deposits from public. He immediately cut the call.
This is how these fraudsters are cheating people. There is no guarantee for the funds deposited by people and the company may vanish without a trace after collecting several millions of rupees. People would be left high and dry with no one to complain. They would have to run from pillar to post to get back their deposits. After filing criminal case against them, they have to wait for the court verdict which would take several years and they may get back only 30 or 40 per cent of their deposits.
My fellow Indians! Do not fall for high rate of interest offered by these fly by night operators.

No comments: