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A Word of caution to the general public - BEWARE OF SEASONED FRAUDSTERS

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A SUNDARARAMAN

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[h=2]A Word of caution to the general public - BEWARE OF SEASONED FRAUDSTERS[/h]
I would like to bring to the notice of general public, especially the most gullible senior citizens who have toiled all their life and have some savings to take care of them till they receive the call from above.

It is because about 90% of investors in this particular fiasco happens to be Brahmins, senior citizens and unfortunately well-educated but NOT well-informed. The very purpose of this letter is to fulfil the requirement of 'being well-informed'.

One Mr R Subramanian, an IIT and IIM genius chose to target maximum number of senior citizens, especially the defenseless Brahmins, promising them slightly or marginally higher returns than the Banks and collected the deposits. He knows very well that these hapless brahmin elders can only make hue and cry among themselves but wont go beyond that. He started Subhiksha in Chennai and other major cities only to dupe the employees and the general public after few years. He was a most effective fraudster - imagine he has duped umpteen number of big banks, and major corporates like Wipro by his sharp skills. Nothing happened though everyone was shocked beyond belief but no one could touch him.

He has started or registered some 60 plus Companies in Chennai with the connivance of concerned authorities, especially the Registrar of Companies - it just defies any logic how this one unscrupulous person was given so much freedom to open Companies and defraud the public with impunity. He started all these companies only to route the money received from public into a labyrinthine cross-network so that no one can trace where the money went.

Vishwapriya Financials and Securities is his recent release - thousands of crores have been swallowed by one man and absolutely no one is able to touch him even remotely. He is able to roam around freely in his Audi cars while the hapless senior citizens are literally in the street. He has devised a fool-proof strategy to fool the investors - he himself has filed a case in the court and as everyone knows the Courts are the last ones to help a hapless common man it sided with this great fraudster and keeps dragging the case - few of the investors have already died and few others are lamenting why at all they had invested in this Company. Only thing the court has done is hear, adjourn, adjourn, adjourn............ That is precisely what Mr R Subramanian wanted and that is his well planned strategy to delay returning money to depositors (in turn that is worst form of denial) and eventually close down his Company and case without even returning one paise to the depositors.

EOW and Courts are just spectators in this cruel episode. Government or any politician worth his salt is not willing to intervene for obvious reasons - they have received their shares for keeping quiet.

How these things can happen in such a well-educated law-abiding society? It is because some vested interests, paid by the fraudsters, keep the information under wraps and DO NOT ADVICE THE PUBLIC EVEN THOUGH THEY VERY WELL KNOW that the public are being duped so openly with impunity.

The sole purpose of this letter is to INFORM THE PUBLIC, ESPECIALLY THE ELDERLY BRAHMINS, TO LEARN from THEIR MISTAKES, KEEP AWAY FROM THESE FRADUSTER COMPANIES AND MOST MOST IMPORTANTLY - ADVISE OTHER PEOPLE TOO TO REFRAIN FROM FALLING INTO THE TRAP OF THESE INDIGENOUS HIGHLY EDUCATED AND SEASONED SHARP-SKILLED FRAUDSTERS.

A.SUNDARARAMAN
On behalf of Viswapriya Investors Welfare Forum.​
 
In the late 1990s, lot of Nidhi Companies were closed down, driving the poor investors in the street.

So far, only 50% of the deposits made has been repaid.

Investors must be very careful about these bogus companies.
 
These NBFC non banking finance companies are neither here nor there. They have plush offices, take full page ads, fulfil promises for an year or two, get generous press reports and then misuse the fame to grow exponentially. Existing customers who have benefitted bring new customers and the bubble bursts. Legal protection like underwriting by banks may help the victims.
 
Is this another Sahara scam...Subrata Roy is in Jail since March 2014...Supreme court has told him to return the money that he has collected from gullible investors...
 
There are no buyers of his assets and can't even raise money for his bail. And the stadium he built for IPL in pune is in a sorry state; and the big neon sign board 'sahara stadium' is missing.

Is this another Sahara scam...Subrata Roy is in Jail since March 2014...Supreme court has told him to return the money that he has collected from gullible investors...
 
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hi

generally public ppl are more greedy.....always want easy income....every income comes with some risk....these NBFC utilisizes

human psycho and get benefit out of them.....i know one story....my MIL used to work for NBFC...they give a lot of parties

in five star hotels.....then they loot slowly from ppl's money....its very sad story for govt retirees....
 
Incidentally April 28th was another 'nth' hearing in Viswapriya case. As usual it has been adjourned. Much to the delight of R Subramanian it is court vacation time and next hearing will not be before June or July, by which time few more investors will expire. The case will drag on endlessly.

Why the Central government or the Tamilnadu State government didnt want to intervene - it is rumored that both BJP and AIADMK were funded by RS during 2014 elections so that no one can touch him.
 
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