Port Blair, July 16: The Director General of Police today cautioned Islanders against frauds and impostors while making investments and purchases.
In a press note the DGP said that all through the recent history of the islands, many schemes have been launched and promises made to double money at unbelievably high monthly interest payments to the investors. Goods are also promised to be sold at rates which are 40% of actual rates for electronic and other items.
Almost every islander knows about massive scams earlier such as Chola and Win-Win. It is therefore astounding that even now greed is forcing citizens to act against their common sense. Recently the Kuberar Traders owner received lakhs of rupees and many people subsequently complained against him.
“The modus operandi in all these schemes is similar. In the case of high interest rates, the fraudster company accepts money and for the first two or three months these instalments are paid out of the principal amount deposited by the investors i.e. his own money. By word of mouth this unbelievable profit-making scheme is publicised and more and more greedy people enroll themselves. At a certain stage the company or individual disappears from the scene. These companies or individuals prefer to operate through local agents who are then left to answer to the law and the investors. Anybody offering more interest than the banks is not to be trusted,” the Director General of Police said in a press release here today.
A number of islanders are still being cheated by fictitious lotteries online or on the mobile telephone inspite of the massive publicity given to this fraud.
“Greed is the motive that causes the loss of your money. At many time, the fraudsters initially refuse the investment which only makes the citizen twice as eager to hand over his money,” the DGP added.
