A young man from Kanpur has filed a formal complaint, alleging that a company based in Hyderabad swindled him and his family out of a massive sum of Rs 42 lakh. The fraud was perpetrated under the guise of a fixed-return investment scheme, promising assured profits.
Family's Life Savings Vanish in App-Based Scheme
The victim, identified as Keshav Bajpai, a resident of Ganga Tarang on Birhana Road, detailed the ordeal to the Pheelkhana police. According to his complaint, the entire family pooled their resources into the scheme. Keshav, his father Sunil Bajpai, his wife Madhu, and his sister Mansi collectively invested the substantial amount last year.
The company in question is Capital Protection Private Limited, operating under the Falcon Group, with an address in Madhapur, Hyderabad, Telangana. The investments were facilitated through a mobile application, following persuasive assurances from the company representatives of guaranteed and fixed returns on the deposited funds.
False Promises and a Vanishing Act
The scheme began to unravel when the company failed to disburse the returns on the pre-scheduled dates. Alarmed by the delay, Keshav Bajpai approached the authorities and lodged a formal complaint. Subsequently, the managing director of the company contacted him via email, offering renewed assurances of prompt payment.
However, this communication proved to be another stall tactic. The complainant soon discovered the harsh truth: the company had shut down its office, and its directors had reportedly absconded, leaving investors in the lurch. The promised returns and the principal investment had vanished without a trace.
Police Action and Ongoing Investigation
Acting on the complaint, the Pheelkhana police have taken official action. Station in-charge Sharad Tilara confirmed that a report has been registered under the relevant sections of the IT Act. The case is now under active investigation as authorities work to trace the accused company officials and unravel the full extent of the scam.
This incident serves as a stark warning for investors, especially those attracted to high-return schemes promoted through digital platforms. It underscores the critical need for thorough due diligence before committing funds to any investment opportunity, particularly those operating primarily online with distant physical addresses.
