[Resolved] Capitals — This is company is a fraud
I am giving the details about the latest news about this company. This company has cheated many people and now the police have arrested the main person for further details see below the news which was published in "Express News Service regarding 1 crore fraud in forex trading."
Express News Service
First Published : 21 Oct 2009 03:16:00 AM IST
Last Updated : 21 Oct 2009 06:41:11 AM IST
CHENNAI: The suburban police on Tuesday arrested K Natarajan (42) of Varadha rajapuram, Chennai, for cheating about 100 people, including government staff and Air Force employees, to the tune of Rs 1 crore in forex trading.
K Natarajan (42) and his associate Susindran, who lost Rs 5 lakh in forex trading (foreign exchange
market), had floated a company called Srivari Capitals in Ambattur.
The duo advertised in local dailies and through the Internet offering to give 100 per cent returns on investment within a very short time frame, informed S S Mani, investigating officer of the Central Crime Branch.
Among the various schemes on offer were to become an ‘external partner’ in forex trade by choosing for one of the following three options: fund one lakh and get benefit of Rs 10,000 for 24 months; invest Rs 1 lakh and get Rs 1,250 per day for 100 days; and invest Rs 1 lakh and receive Rs 10,000 per month for two years.
Rangbir Singh, a Government officer working in Hyderabad, invested Rs 1 lakh under the Rs 1,250 per day scheme after signing an agreement with the company as an external partner, Mani said.
As Singh didn’t get the promised money for a long period, he went to check with Natarajan at his office at Ambattur. Singh was shocked to find the office locked and the locals told him he had cheated many others as well through this trade.
A special police team arrested Natarajan, who confessed to having mopped up Rs 1 crore by cheating people. Among those who fell for his schemes were 10 officers from the Indian Air Force base at Tambaram.
Natarajan was remanded in judicial custody. A search is on for his associate, Susindran.
Be alerted and don't get cheated
Complaint marked as Resolved Aug 14, 2020
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