KOCHI: Nano Excel Corporation Ltd founded by Harish Maddineni deals in nano health and wellness products in the Asia Pacific region. Based in the United Arab Emirates with its India headquarters in New Delhi, around four lakh investors had put in their money in the business. The company authorities claim that once a person buys the product worth at least Rs 12,000, he or she will automatically be the partner of the firm. The investors were assured returns ranging from Rs 7,500 in the fourth month and Rs 1,80,000 in the fourth year. The company having its main office in Kerala amassed around Rs 500 crore. LIS: “Double your money in just seven weeks” can be one of the most luring captions and it worked wonders for the LIS Deepasthamabham project. The agency with its headquarters in Ernakulam succeeded in attracting more than 1 lakh investors until their office was raided and sealed by Investigation Officer T P Senkumar. The investigation of the case is still on against LIS chairman P V Chacko and wife Achamma Chacko and others.The estimated amount of fraud is to the tune of Rs 850 crore. The LIS scheme was made attractive by offering units at Rs 1,250. As and when a membership becomes eligible for commission, it gets matured. The investors were assured commission and refund on maturity, thus luring the customer that they will get double the income. When a membership gets matured, it stands terminated. The trap is that one cannot withdraw the amount entrusted in this scheme until it gets matured. For every unit a person is offered a lottery ticket worth Rs 10 for 70 weeks. (Every week, out of the commissions, 25 per cent is apportioned towards the account of senior most members as refund and share). Tycoon: The Chennai-based Tycoon Empire International Ltd had collected Rs 370 crore from about 50,000 investors. It offered Rs 10,000 a month for the next three years if Rs 1 lakh is deposited in their company. The police had issued a lookout notice to the directors of the company, Kamala Kannan and K Sadasivan. The company’s owners are from Chennai but it has promoters from Kerala. The police said the company had collected money under the pretext of products, and that its claims to be an ISO certified company are false.Bizarre: After amassing Rs 55 crore from the investors, the Chennai-based Bizarre Global Business group had invested in property worth Rs 20 crore. It collected Rs 100 crore through chain and shares. The majority of investors had turned into agents. The company collected money by offering shares and also offered commission. Bizzare officials claimed that they aimed to enter the real estate and hospitals segments, and that it even planned to list on the Bombay Stock Exchange. The estimated volume of the fraud is Rs 500 crore. Mostly people in Payyoli and Vadakara in Kozhikode and from Palakkad and Thrissur became victims.Verizon: The accused based in Aluva made investors apply for a membership in an establishment, Club Encode, for Rs 6000. With an addition of Rs 1000, they stood to get shares in Verizon Builders. About 13,000 fell prey to the scheme. The total volume of fraud is estimated at Rs 550 cr. Bijoy Sebastian, Dr Sandeep K Jose and Sunil Hendez are the main accused. They were arrested.
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