Andhra Pradesh Police on April 28, 2010 busted the racket being run by Gemini Techno Marketing Services Ltd, which indulged in a wide range of frauds. It has run an open money circulation scheme and sale of several products including insurance policies, real estate. Its turn over is anywhere between Rs. 250 million and Rs. 300 million.
It has agents all over Andhra Pradesh and has headquarters at Rajahmundry, a town in East Godavari district of Andhra Pradesh. It has been in existence for over half a decade and there were several complaints against that company.
Interestingly, the Police did not take any action either against the erring company or its head Mr Jyothi Babu, though several FIRs were registered against it. Extraneous considerations are said to be the cause of inaction.
Finally the bubble burst when a person living in Sangareddy of Medak district lodged a complaint with the police. The then Medak SP, Mr V C Sajjanar, IPS, went after the company and brought the culprit to book. Now MR Sajjanar is promoted as DIG of Police.
The modus operandi of the Gemini Techno is inducing the women to become members of the scheme by paying Rs. 3,000 and promising a pension of Rs. 500 for the rest of their lives. Many gullible have fallen for it. Mr Jyothi Babu made millions and still continuing the racket before the police busted it.