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| After Jaipur, Gold Sukh owners flee Jammu too with crores of investor money | | | Early Times Report
JAMMU, Nov 23: A massive case of fraud worth several crores by Jaipur-based Gold Sukh Trade India Ltd, an investment company which had opened its office in the posh Gandhi Nagar locality, has surfaced here. The irate investors today smashed window panes and broke furniture items of the company office.
The company lured people by claiming that one could quadruple one's money in 1.5 years with its get-rich-quick schemes. It had closed its offices at Jaipur two days back after duping investors of about Rs 300 cr.
It was felt that in Jammu too, they had swindled several crores. The company promised investors 150 times profit in 18 months.
Today, when some investors reached the company's office at Gandhi Nagar, they found it locked. Some of them had already gone through the national newspapers which carried a report in today's edition that the company's directors had dodged investors at Jaipur and fled.
After waiing for sometime outside the office, the investors lodged a protest and then broke open its entry door, smashing its window panes and breaking the furniture items. Some investors were alleged to have taken a LCD and computers.
Police registered two cases in this connection; one against the company's local directors and the other against those who ransacked the company office.
The local directors were identified as Maqsood of Gandhi Nagar, Neeraj Kant of Lakkar Mandi, Janipura, and Surjeet Kour of Nanak Nagar. A case was registered against them under sections 420 and 406 of RPC at Gandhi Nagar police station.
The company attracted investors by using their members' deposits to purchase gold. In return the company promised handsome gains to the investors on their money, SP (south) Rajeshwar Singh said.
The company had prepared four plans for investors, he informed.
Plan 1: Investors had to pay a one-time amount of Rs 6,000. After 18 months, they were to get Rs 1,63,800. The company paid first cheque of Rs 40. The subsequent cheques would be of double the amount. All-in-all investors would be given a total of 12 cheques in 18 months. The last cheque would be of Rs 88, 000 if each cheque was double the preceding one.
Plan 2: Against a deposit of Rs 22,920, the company was to give an amount of Rs 26,20,800 after 18 months.
Plan 3: Against an investment of Rs 1,20,480, the depositor would get Rs 1,76,90,400 in 18 months.
Plan 4: Under this scheme, a depositor would have to invest Rs 6, 03, 356. At the end of 18 months, the company promised to give him Rs 5 cr. As per the company rules, such customers would be given a total amount of Rs 10,15,56000.
It was not yet known if the company had returned money to some of the investors, or not.
Several such firms have already siphoned off billions from the state in the past few years.
The SP said they were still in the process of scrutinising the seized record of the company.
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