Thursday, 28 April 2011

Yet another economic alchemist vanishes with piles of stolen cash

Ponzi schemes have been a growing problem in Ahmedabad. This week it was reported that thousands of gullible people there have been attracted to one such scheme called 'AISE Capital.'
It will come as no surprise to your free-thinking readers that the instigator has now vanished taking his victims' money.
'AISE Capital' was created by Abhay Gandhi about one year ago. Without a full-explanation, this unoriginal crook claimed that if you gave him your cash, he would double it in three months. Typically, AbhayGandhi paid out a few early participants and offered them fat commission payments for recruiting new 'investors.' His four offices have now been shut or left in the hands of innocent staff. Abhay Gandhi has not been seen for a week. It is suspected that he has fled to Bangkok with Rs500 - Rs700 crore.
Just before he absconded, in a manoeuvre worthy of 'Sai Baba,' Abhay Gandhi ran a 'seminar' for his followers where he gave away Rs1,000 of gifts to each of over 500 people. However, it cost Rs1,350 each to get in.
David Brear (copyright 2011)


corporate frauds watch said...

This is the problem. If we warn as soon as it started, nobody including police would not listen. Later, they cry they were duped. It is apt to recall the caustic remark of Madras High Court in this connection. In the Apple FMCG Marketing Private Limited case, the Madras High Court stated that "It is true that several companies including multinational companies carry on the business of the multilevel marketing and it is also true that the Executive and the law enforcing authorities keep a blind eye on such activities. This also does not make an illegal act legal. It is always a fact that the law enforcing authority would try to close the stable only after the horse had escaped." (Para 22)

Unknown said...

I have newly connect speakasiaonline .I don't know it is fraud or not but I have joined and confuse that I have done right or wrong. if this right company then its a big opportunity for indian.
Kindly tell me shyam sunder ji now what should i do ?

Shyam Sundar said...

Mr Abhishek, at least do not enroll new members to this illegal business activity. If possible file a criminal case against the organisers in your area stating that you were induced to join that company by promising easy and quick money. Otherwise, you are also liable for prosecution.