Mangalore, March 8: In yet another major fraud case, Mangalore police on Tuesday raided two offices of a city based fraudulent investment company and took a few people into custody for investigation.
A large number of investors have alleged that 'Dreamz Tours and Travels (DTT), which has two offices at Cee Dee Complex, in Pumpwell, cheated them after promising to help them make some quick money. Previously, the company had operated under the names of Unipay, Visa Rev, and Unigold.
With the hopes of doubling their investment in 10 months, a large number of people invested crores of rupees in an online trading chain scheme.
The development comes within a few days after police took action against Global Index Investment Company (GIIC), a similar fraudulent company following complaints lodged by its victims.
Victims have alleged that DTT, managed by one Sandesh Mascarenhas, not only failed to meet its promise of doubling the money but also deceived people by swallowing the entire deposit.
“They cheated us after assuring that they would invest the money in gold in Malaysia and other countries, which will result in high return” said, one of the victims.
Kankandy police are investigating the issue after sealing both the offices of DTT.
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