Year
back, a regular customer of our medical store asked me to invest a small amount
into a private investment scheme. He also mentioned that he too would be
benefited form my investment but I was not in mood to oblige him. He was quite
unhappy with my decision even told me that he being a regular customer and he
is taking medicine worth thousands rupees every month and I should return a
favour against it. I was quite taken aback and amused as if he was doing a
favour to me by paying thousand bucks against the medicine of same amount he
used to purchased. During that period whenever he met me he never hid his
unhappiness and I was least bothered by it. After some time the said investment
scheme collapsed and now he realised the mistake but only after losing some
undisclosed amounts.
We
are living in a messy epoch and investment
is the only way to grow our money. We need more money, as the life expectancy
is more than what it used to be and lifestyle too is more complex but investment
not mean to throw my hard earned money to a dustbin and wait for a return. What
happened in Bengal with Chit Fund is
shows that people need to be educated against this scamsters. In rural India people
still not familiar with the banking system and only the rude banking officials should
be blamed for it. These unregulated investment scheme reach out to the poor and
make a merry with their hard earned money. The chit-fund business continues to
flourish in West Bengal despite the Reserve
Bank of India (RBI) initiating action against two companies for misusing
the regulator's name to invite deposits from the public. Before, it happened with Sanchayita scheme and
now it is with Shradha group.
These
scheme also known as Ponzi scheme. The scheme gets its name from an
Italian American called Charles Ponzi who in 1919 ran an investment scheme
in Boston, which promised to double the
investor’ s investment in 90 days. This was later cut to 45 days. At its peak
the scheme managed to collect around $40 million and had nearly 15,000
investors.
The
Scam and the Scamsters
Stock
Guru
Ulhas Prabhakar Khaire, 33, and his
wife Raksha J Urs, 30 had floated a company, Stock Guru India,
promising to double investors' money in six months. They had launched a
high-profile promotional campaign and even roped in celebrities. Masters of
disguise, the couple had changed their names to Lokeshwar Dev Jain and
Priyanka Dev Jain while running the company and disappeared with the
investors' money. Delhi Police nabbed the
couple from Ratnagiri in Maharashtra, where
they had opened another fake investment company. Police said the couple changed
their looks and assumed new names based on stolen identities for each of their
fraudulent operations. The scam came to light around April last year after
investors complained to the police. In Delhi
alone, cops have received 14,303 complaints from investors who had put in money
ranging from Rs 10,000 to Rs 60 lakh in Stock Guru India.
Sanchayita
in
the early eighties when several investors and agents committed suicide.
Sanchayita collected more than Rs 120 crore in 1980 before its offices
were raided and it folded up with only a handful of people getting back a
minuscule amount of money. Two main promoters of the group were arrested with
one of them Shambhu Maukherjee committing suicide and Swapan Guha
being declared insolvent by the court. Another accused Biharilal Morarka
is still at large. As for investors and agents there are reports of several
committing suicide and a handful pinning hope against the hope with a criminal
case dragging on in court for more than 30 years now.
!!!The safe way to double your money is to
fold it over once and put it in your pocket. -
Frank McKinney!!!
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