The police investigating the multi-crore online fraud committed through a mobile app, much to their dismay, found that the organisers neither had a head office nor branch offices anywhere. The company executives were not seen anywhere and did not leave any contact numbers.
Many from A.P., Telangana and other States paid huge amounts to the organisation which promised customers that the money invested by them would be used to buy medical equipment and lease it to needy clients. The rent so generated would be paid to the investors.
The organisers gave wide publicity to their business plan through various social media groups, and offered incentives to those who brought new customers into the business.
The organisers reportedly paid returns to some investors to encourage new customers into the business but payments had been stopped for the last few months and the app ceased responding.
Realising that they were deceived, many victims approached the Cybercrime police and lodged complaints.
Cybercrime inspector K. Srinivas, who is investigating the case, said that unidentified persons floated the online multi-level marketing app, and invited investments. They offered commission to the people who introduced new customers.
“Customers deposited amounts ranging from ₹10,000 to ₹1 lakh in the company and also brought new customers for commission,” he said.
The investigation officers are trying to find out the activities of the fraudulent app, the persons behind the multi-crore scam, and details of the bank accounts into which the money had been deposited.
Many victims had submitted to the police the details of the financial transactions made through the app in the last few months.
“I had paid about ₹40,000 to the medical equipment firm which claimed to have purchased some material and leased it to patients. Some of my family members and friends too transferred money to the app. Initially, I received some rent for the equipment said to have been procured on my name but later payments stopped,” said a victim at the Cybercrime police station.
“We are investigating various aspects like the State or country from which the app was operated, how many people were duped and to what extent, into which bank accounts the money was deposited, if any agents were appointed to develop business and the purchases made,” an investigation officer told The Hindu on Sunday.
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