Bhopal (Madhya Pradesh): Three members of a family cheated investors on the pretext of launching a start-up company and extorted Rs 25 lakh from them. Economic Offences Wing has registered case recently and started investigation, officials said on Tuesday. The fraudsters also cheated a project manager working at a high-end technology company in Amsterdam, Holland.
Rewa resident Rishik Tiwari filed the complaint to EOW on Monday (April 1, 2024) and said that he and his friend Ashutosh Tiwari were duped by a start-up company, which was operated by Jyoti Pandey (COO, profit partner), Abhishek Pandey and Indramanit Pandey (directors).
The company said they had prepared application for wholesale trading and would start operations from February 2023. The company also claimed to have received a huge investment.
According to police, company officials contacted Ashutosh Mishra for investment. In return, he was promised Rs 80 crore and 31% partnership in the company.
The company operators showed fake pictures of their office situated in IIT Delhi area. They also showed the name of the co-founder of the company who was pass out of IIT Mumbai, another company stakeholder, a pass out of IIM Lucknow, and a high-profile HR staff.
Mishra shared the details with his friend Rishik Tiwari and forwarded the company profile. Tiwari checked and found all things as correct.
In the meantime, company officials offered post of company director and board observer to Tiwari, which he accepted. Mishra was told to invest Rs 40 lakh till January 30, 2023. Mishra deposited Rs 25 lakh in two instalments.
When Tiwari asked for appointment letter and ID cards, the company officials ignored him. Mishra stopped investment. However, the company officials threatened them and said if they did not invest, they would file complaint of woman harassment against them.
The two approached the police who have registered the case and started investigation. Fraudsetrs returned some amount to victims.
