Hydrabad police’s cyber crime busted Rs 1,200 Cr marketing circulation fraud that cheated more then 20 lakh people. Major people are from Haryana, New Delhi, Madhya Pradesh, odisha etc.
Police arrested Radhe Shyam and Surender Singh. Radhe Shyam Class VII dropout, where as Surrender is a graduate. They had registered a company “Future maker Pvt Ltd”. Rs. 200 cr was seized from several bank accounts belong to company. Further investigation is going on in case.
They involved people with promises of high part-time income. Their primary targets included young people, homemakers, and retired employees. Both of them also allegedly set up an investment company, Future Life Care Global Marketing Pvt. Ltd., registered in New Delhi, to carry out their frauds.
They started Multi-Level Marketing scheme in which people have to register and enroll other people under them.A joining fee of Rs. 7,500 was charged, and the people enrolling were promised returns of Rs. 2,500 every month for two years, in addition to Rs. 500 commission for each person roped in.