Home STATE Fake company takes people for a ride, decamps with Rs 1 crore

Fake company takes people for a ride, decamps with Rs 1 crore

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OST Bureau
Muniguda, Dec 11:

Police has launched a manhunt to nab the staff of a Tamil Nadu based company after it fled the area with crores of rupees of the local depositors here.

According to reports, Roja Traders, a Tamilnadu-based company had opened its branch office here recently.

The company gradually became popular as it delivered the branded electronics and household items to the people at prices which were 55 percent less than the market price.

After more and more customers lined up for the big discount, the company asked them to deposit their money in advance and wait for 12 days to get their desired products.

A large number of people, out of trust, deposited money with the company for various goods without any hesitation.

However, the local company officials who had already collected over a crore of rupees as advances fr