A
A SUNDARARAMAN
Guest
It was a meticuloously planned scam. The target, unfortunately, was senior brahmin citizens who were duped of their life savings in a meticulously planned operation over the years by the master swindler R Subramanian. Right from the year 2000 onwards R. Subramanian, MD of Viswapriya Financials and Securities Ltd specifically targetted brahmin elders, who are docile and naive enough to trust anyone. He appealed to them through various investment companies to invest their lifetime savings as debentures and deposits for a just nominal increase of 1% interest more than the market rate. From 2000 to 2012 he gained their confidence and finally filtered the investors only to form a group of senior citizens over the age of 65 and above and one fine day just closed the Company without returning even one paise of their investment, leave alone any interest. when the hapless senior citizens realised to their dismay in 2013 that they are not going to get their money back they just didnt know what to do. That is what precisely R Subramanian expected. To delay the investors from doing anything he devised a dubious scheme with the assistance of Court (one of the directors of Viswapriya was a retired Judge himself) and got it passed - that is returning the investment over a period of six years in instalments after 2016. Investors were repeatedly asked about their various investment deatils again and again just to confuse them and delay the process further without any further remedial action from the investors. Having successfully delayed any action from the investors he transferred all the investments to other companies (Registrar of Chennai was very generous enough to permit him open some 49 Companies solely for this purpose); and transferred all the good properties of the Company to his own relatives. And cunningly applied to the Court for bankruptcy after completing the successful swindling operation. For name's sake the EOW arrested him and released him. For hundreds of crores of cheating the High Court was very kind enough to let him on a simple bail of Rs. 1Lakh. Now the Investors, all of them senior citizens and brahmins, realized their folly and formed an association, Viswapriya Invenstors Welfare Association and through their donations arranged some lawyers to fight their case, belatedly. Now the Court found that Viswapriya has only few useless properties that also under litigation; EOW, Chennai claimed no complaints from investors stating that whatever complaints it received were all washed away in Chennai floods in December 2015. What a concerted effort by all the savious of Law to save the fraudster. Now even after 3 years the case is going on, few of investors have died penniless, being ridiculed by their children for having invested in Viswapriya and left high and dry in the terminal stage. No political party worth the name came to the help the investors because they received handsome donation for the election from Viswapriya Company.
India, particularly Tamilnadu has never been duped so meticulously in such an organized way with the utmost cooperation of Police and the Court who are supposed to protect the public, that too, senior citizens in particular.
The surviving investors hopelessly fighting a long drawn battle against the monster scamsters and keep praying that a miracle will happen someday before they die..............
A. Sundararaman
India, particularly Tamilnadu has never been duped so meticulously in such an organized way with the utmost cooperation of Police and the Court who are supposed to protect the public, that too, senior citizens in particular.
The surviving investors hopelessly fighting a long drawn battle against the monster scamsters and keep praying that a miracle will happen someday before they die..............
A. Sundararaman