E-commerce firm dupes investors of crores
Bengaluru: An e-commerce firm has been accused of cheating consumers of crores of rupees after promising them huge returns. The multi-crore scam, which is believed to be spread across the country, is being investigated by Central Crime Branch (CCB) of city police.
Chandrashekar Gupta Gala, director of e-commerce company Easy Pay Cash (EPC), is the prime accused in the case.
According to a victim, Chandrashekar started the company in June 2017 and set up his office in HSR Layout. Posing himself as the networking business head, he lured people with attractive offers to invest in his company.
According to a Times of India report, Chandrashekar allegedly sought investments initially in three slabs of Rs 9,000, Rs 27,000 and Rs 81,000 which, he promised, would fetch the investors returns of Rs 100, Rs 300 and Rs 1,000, respectively, over next 200 days. The profits were to include the principle investment too. Primary investors who bring in additional investors were promised extra returns in the range of Rs 15 to Rs 500 per day for the 200-day cycle.
The scheme was promoted aggressively on WhatsApp and YouTube for a long time; sources said TOI. According to another investor, Vinod Naik, the firm claimed to make investments in crypto-currencies.
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BJP MLA Munirathna Naidu arrested in rape case after he was released on bail in caste slur case
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