CCB busts illegal online financial firm

Admin   |   16 March, 2016   |   525   |   3980

The Central Crime Branch (CCB_ investigators, on Tuesday, raided the headquarters of a multi-level marketing company and arrested six people for luring gullible victims by promising higher returns as commission for getting more and more people into their fold.

Based on a complaint, a team raided Vijaya Krishna Convention Centre in Kaggadasapura, where the accused, who had floated an online financial firm, were holding a recruitment drive.

The arrested include Avinash Sha, (22) and Nikunjkumar Jadhav (29) both from Kolkata, Rakesh Makarlal (33) from Mumbai, Amith Soni (24) and Ankit Khadelwa (24).

Items recovered

The team also recovered five laptops, mobile phones, two cars, passports and Rs. 10,000 cash from them.

According to the officials, the accused had lured about hundred people and taken Rs. 2,500 from each of them as a membership fee.

“The scheme is illegal and the accused have not taken permission from the authorities concerned,” a senior police officer said adding that the accused have been taken into custody to ascertain their business network.