The CID police of Andhra Pradesh raided the premises of KMJ Land Developers India Ltd in the cities of Vijayawada, Vizianagaram and Visakhapatnam in Andhra Pradesh and seized incriminating documents. The team of sleuths headed by DSP Ramana Kumar conducted the raid.
It may be recalled that the KMJ Land Developers India Ltd has been indulging in money circulation scheme in the name of real estate. Each member has to pay Rs. 5,000 and he has to enroll more members to claim commission.
The organisers say that it is the deposit for the land to be allotted to the members. However, they could not explain how much land they could allot for Rs. 5,000. Not even one square yard of land could be allotted for Rs. 5,000. The land has become scarce and even in small cities it is not possible to allot land for that amount.
So, it is an open money circulation scheme and the CID has come to conclusion and registered a criminal case against the company.
The CID police warned people not to fall prey to the easy and quick money inducement by such unscrupulous companies.