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.http://www.dnaindia.com/money/
report_has-ponzi-scheme- promoter-fled-with-rs500- crore-investors-hassled_ 1536322
'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)