Economic Offences Wing



 

Modus Operandi / New Marketing Methods by Financial Establishments

S.No.

Name of the Scheme/ M.Os Name of the Company Remarks

 

01.

 

Fixed Deposit Scheme  

 

Dhanapriya Finance & Investments

Offering high rate of interest of 36% per month.

Maxpro Marketers Pvt. Ltd.

Assured double the investment amount at the end of 6th month.

JBJ City Developers

Assured double the investment amount at the end of 6th month.

Kingstar Mercantile India Pvt. Ltd.

Offering high rate of interest of 160% per annum.

Rich India Marketing Company

Offering high rate of interest of 163% per annum.

 02.

 

 

 

 

Benefit Fund

 

 

 

 

 
Royapettah Benefit Fund Ltd. 

Offering high rate of interest

 Oriental Benefit & Deposit Society Ltd.

Assured double the investment amount at the end of 55th month. In other schemes offered high rate of interest.

Park Town Benefit Fund Ltd.

- do -

Chromepet Saswatha Nidhi Ltd.

- do -

 Vyasarpadi Benefit Fund

Offering high rate of interest of 24% per annum.

03.

 

   Teak Tree Plantations  

 

 

Anubhav Group of Companies 

Offering high rate of interest of 21% per annum for 5 years and also refunding the principal amount after completion of 5 years.  Further, after completion of 20 years, 200 Cubic feet of teak would be given to the depositors free of cost.

 Sterling Tree Magnum ( India ) Ltd.

Growth of teak trees and offering high rate of interest of 213% to 318% per annum.

04.

Car Schemes

 

Ramesh Cars & Finance

Offering high rate of interest of 31% per annum.

 

City Limouzines     ( India ) Ltd.

If an investor invests a total cost of the car with the company, the company will issue a cheque for  Rs.6,250/- for 60 months as hire charges or monthly rent.  On  completion of contract period of 5 years, the investor will receive the leased car.

05.

Chits Companies

   

Suprabath Chits & Investments Pvt. Ltd.

The company collects chit subscription for individual group, after completion of chit subscription, they compulsorily induced the depositor to invest the chit amount in Fixed Deposit promising high rate of interest of 18% to 24% and defaulted in repayment after its maturity period. 

Mailam Chits

The company collects chit subscription from individual group, after completion of chit subscription, the company defaulted the chit amount.

06.

Gold Schemes

Logu Jewellers

Collected monthly subscription and on completion of tenure, defaulted to offer the gold jewels as assured.

Lakshmi Gold House
Devi Gold House
07.

Online Trading

Paazee Forex Trading India Pvt. Ltd.

They assured to return double the deposit amount within a period of 6 months and assured to give high rate of interest of 210% to 280% per annum.

Tycoon Empires

Offering high rate of interest of 102% per annum.

08.

SMS Scheme  

Wing Technoo

Individual invest an amount of Rs.1000/- and also registering one mobile number, he/she has to read SMS received in their mobile phone sent by the company, for that he/she shall receive an amount of Rs.400/- per month and the amount would be credited in their account created by the company’s website and they may withdraw the amount, once in a month for 12 months (i.e.1 year), Thus, an individual would get an amount of Rs.4,800/- for an investment of Rs.1000/-.

09. Livestock

Emu Farms

Growth of Emu birds and offered high rate of interest of 61% to 76% per annum.

Nattu Kozhi Growth Scheme

Growth of Nattu Kozhi (Country Chicks) and offered high rate of interest of 186% per annum.

Goat Growth Scheme

Growth of Goat (Country Chicks) and offered high rate of interest of 179% per annum.

Copra Scheme

For copras (dried coconuts), offered high rate of interest of 104% to 208% per annum.  

10.

Multi Level Marketing Schemes

Gold Quest

It is a pyramidal scheme, offering incredible returns to the subscribers.

Fine Future
Vcan Network
11.

Dairy Farms

Kavini Dairy

Offering high rate of interest.

Kamadhenu Agro & Dairy Farms Ltd.
12.

Societies

Youth & Strength Christian Social Welfare Association

The investor was induced to invest a sum of Rs.11,000/- for which he was issued a receipt stating that the amount was received as donation. The investor was led to believe that he would receive a sum of Rs.3000/-, during the first 2 months and a sum of Rs.8000 during the subsequent 8 months.  Thus, an investment of Rs.11,000/- will be repaid as Rs. 54,000 at the end of 11 months. The promoter recruited agents to collect money from the public by promising to pay a sum of Rs.3000 as agent commission, at the end of 11 months.

13.

Trust

   

APHRO Trust

The promoters floated a society under the above name, registered under the Societies Act and lured the public by promising to provide loans for housing, business, pension scheme and other activities at a very low interest rate of 6% per annum and collected varying amounts of Rs.3000/- to Rs.6000/- as security deposit and document and verification charges, but failed to provide loans.  The scamsters mainly targeted Women Self Help Group.  They also issued even bank pass books in the name of APHRO Trust to gain the confidence of the public.     

14.

Land Schemes  

JBJ City Developers

Real Estate Dealers, promoting lands, at outskirts of Cities.  In this scheme, those who deposit Rs.10 lakhs, the company will register 2400 Sq. feet plot in his name and the cost of registration will be paid by the company and post dated cheque will also be issued for the deposited money and can encash after one year.

Real King Marketing Pvt. Ltd.
Diamond Enterprises & Platinum Enterprises
15.

Nigerian Frauds

SMS / E.Mails

Sending E-mails as well as SMS, announcing certain prize amounts of US Dollars / Pounds and also informing to remit certain amount for processing fees.