Massive Fraud Unveiled: Investors Duped in Rs 93 Crore Scam
A significant financial fraud involving a fake mutual benefit company called 'Very Well Mutual Benefit Nidhi Limited' has been revealed. The company's directors, including Kripa Shankar's family, are accused of defrauding investors over Rs 93 crore by promising doubled returns. An investigation is underway.
- Country:
- India
A shocking case of financial fraud has emerged as directors of a fictitious mutual benefit company allegedly defrauded investors of more than Rs 93 crore. The incident involves 'Very Well Mutual Benefit Nidhi Limited,' a company now at the center of legal proceedings.
An FIR was filed against 15 directors, including a woman, at Gyanpur police station. The complaint, launched by employee Rajesh Kumar Maurya, accuses Kripa Shankar's family and other directors of enticing investors by promising substantial returns through various financial schemes.
Following the director Kripa Shankar's passing, operations reportedly continued under his family and associates, amassing a total of Rs 93 crore from investors. Police investigations have intensified after the company was found to have no legitimate bank account, raising concerns of serious misappropriation and deceit.
(With inputs from agencies.)
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