Citizens cheated of Rs. 18 cr in yet another scam

Lure of high yield of 20% on investment dupes several gullible residents of Mango

Jamshedpur: Several citizens have been defrauded in the name of quick return by a company in yet another scam. The victims reached Mango police station late Monday night and alleged that they have been scammed by a fake company.

However, the Mango police station in-charge has said that no written complaint has been registered by the victims yet. He said that further action will be taken as soon as the complaint is received.

Gangs cheating in the name of fake companies making tall promises of quick returns are active in Jamshedpur.

Recently, a case of embezzlement of crores of rupees by a chit fund company had come to light too. Investigations into that case are still going on.

Now, another case of fraud and financial scam has come to light in Mango’s Jawahar Nagar.

The victims named a person and said that he cheated them by committing fraud in the name of giving 20% return on their deposits.

Several persons invested to the tune of Rs. 5-10 and even 15 lakhs for a high return of 20 pc as was promised to them.

It is estimated that the scam may have fleeced the citizens of up to Rs. 18 cr.