It has become very easy these days for conmen to cheat the gullible. Kolkata-based Sumangal Industries started yet another racket with the lure of big returns in short span. And there are many to fall for it.
The company in question asked deposits from people with the promise of 100 per cent returns in 12 months.
Any idea what it is going to do with the money?
We have learnt about rackets which promised huge returns if we invest to purchase goats, ducks, rearing sandalwood plants et al. But this fellow has gone a step ahead.
It is going to invest in potato purchases in large scale and sell the same with huge profits. Don't ask how the profits would be 100 per cent.
The company in question asked deposits from people with the promise of 100 per cent returns in 12 months.
Any idea what it is going to do with the money?
We have learnt about rackets which promised huge returns if we invest to purchase goats, ducks, rearing sandalwood plants et al. But this fellow has gone a step ahead.
It is going to invest in potato purchases in large scale and sell the same with huge profits. Don't ask how the profits would be 100 per cent.
It is just a promise. And people fall for it. It had collected several crores of rupees from the mud-heads who believed them.
However, the Securities & Exchanges Board of India put a spanner in the racket of Sumangal Industries and asked it to return the amount in three months to all the investors.
In all these rackets one thing is common. First these racketeers catch hold of the group leaders who are not ashamed to meet people once again with their smooth talk.
These shameless fellows talk about easy money and induce peoplewho already lost money such scams to get back their money where they lost once.
Who are these group leaders?
People who vociferously defend the MLM in this blog stating that is the best business model in the 21st century. And calling everyone who oppose them names. These people are the dangerous lot to the society. They are interested in only in lining their pockets.
These shameless fellows talk about easy money and induce peoplewho already lost money such scams to get back their money where they lost once.
Who are these group leaders?
People who vociferously defend the MLM in this blog stating that is the best business model in the 21st century. And calling everyone who oppose them names. These people are the dangerous lot to the society. They are interested in only in lining their pockets.