Electronics Co Dupes Investors

Published: 21st March 2015 06:00 AM  |   Last Updated: 21st March 2015 04:24 AM   |  A+A-

SRIKAKULAM:In another case of fly-by-night companies, organisers of Chintras Technology Electronic collected deposits and played a vanishing trick. The incident came to light after victims complained to the police Thursday night.

The fraudulent company opened an office at New Colony and invited shopkeepers to purchase an LED TV for Rs 35,000 in which the company would run advertisements. The organisers offered to pay the shopkeepers Rs 7,500 in the form of cheques the first three months, and Rs 8,000 for the subsequent months.

As promised they gave LED TV sets to the shopkeepers, and to gain the confidence of the investors, the company organisers paid Rs 7,500 in the form of cheques for the first three months.However, as they dilly dallied after three months, the victims, led by T Chalapathi Rao went to the office and found it locked. The organisers were also not to be traced.

The duped victims then lodged a complaint Thursday night. II Town police are investigating.

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