Visakhapatnam: Cheating public has become a common practise at Vizag. This time Sri Chakra Gold Farms and Villas India Limited rips off public virtually 50 crores in the name of property and farm estates business.
The management of Sri Chakra Gold Farms and Villas (India) Limited fooled its investors of ’50 crore. Organisers of the business are at big. Tension prevailed for time at the office’s workplace near Turner’s Choultry after angry investors ransacked the office and took away furniture and other valuables.
According to authorities, the management of Sri Chakra Gold Farms and Villas India Limited reportedly showcased their farms as an assurance for the cash invested by their customers. It apparently promised four times of the invested money with them in one year. Several individuals invested money with Sri Chakra Gold Farms and Villas India Limited, ranges from ‘1 lakh to ‘5 lakh.
After growing suspicious in the wake of current chit fund frauds in Bengal and adjoining areas, a few investors asked the management of the company to pay their invested money about six months ago. Nonetheless, the management reportedly threatened the investors, that they would close down the company and surrender to the police if they require them to pay back cash.