Mangalore, Sep 11: Lured by attractive offers, consumers repeatedly fall in the trap of fraud companies which cheat investors of their hard-earned money. Along the same lines, Tulunadu Rakshana Vedike, Mangalore has alleged that an investment agency called Vruksha Business Solutions Limited had been cheating consumers from the past one year without repaying their money.
Addressing a press conference here on Wednesday, members of the organisation alleged that the company was a fraudulent one, which duped prospective consumers and lured them into investing in the company in return for getting better returns. A complaint had been lodged with the Commissioner of Police in this regard, they said.
Yogish Shetty, president of the organisation said that the fraud company would lure prospective consumers with high interest rates and promise to return their money with good profits. When the consumers want to take out their money, they are not paid their full payment, thereby ending up being cheated by the company. Moreover, the people who have deposited their funds with the company are insulted and offended by the agents, he said.
He said that the members of the Vedike, along with 71 consumers duped by the fraudulent company, visited the office of the commissioner of police and lodged a complaint against the company owners.
He informed that an FIR had been lodged against Jeevaraj Puranik, Roshan D'Souza and Venugopal in connection with the fraud company.
Meanwhile, they had learnt that the Vruksha company had initiated the sale of a site worth Rs 7 crore for a selling price of Rs 4.60 crore. Although the consumers and agents had tried to halt the registration process of the site, the management heads of the company had managed to do so with political influence, he said.
The agents of the company, have given an ultimatum to catch the culprits and return the money invested by the consumers, failing which they would initiate a hunger strike in the city on September 25, he said.

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