Another big scam happened in Ahmedabad, Gujarat.
Company Details:
Owner name – Vinay Shah & Bhargavi Shah
Company address:
203-207, President Plaza, 2nd Floor, Nr. Titanium Square.
Thaltej Road, Ahmedabad -380054.
Website
Year Founded:
2001 (as per LinkedIn)
Fraud:
As per govt. sources company has scammed around 260 crores
of INR. Local gujarati news channels are continuously exploring the truth and
broadcasting about the scam on TV.
How fraud was done:
They insist people to invest in their company and promises
of doubling the money invested in multi-level marketing tactics.
They offered different plan to invest money. They also
mentioned that they have reputable clients like PEPSICO, IDEA, BRITANIA,
AIRTEL, TATA DOCOMO etc. Recently on 31st Oct 2018 they also
have organized an event in Ahmedabad to promote services and new business plan
to invest overseas so that they can make a trust in investors.
With the ponzi scheme, they run business and done huge
fraud. With this fraud scheme until and unless new users are getting registered
they will keep paying the upper level users, and when people will stop
registering they will close everything and will run away. They adopt
chain business formula and cheated people.
How Archercare Digiad LLP Fraud explored:
The scam came to know when first FIR launched, police
started their investigation and explored the whole scam. Sr. Police officers
and other name also included in this scam. Investigation is running.
Be aware and be safe from these types of scams and money laundering
businesses and schemes.
