A 38-year-old Sadashivanagar resident has alleged that he was defrauded of Rs 8.64 lakh by a chit fund firm in HSR Layout, Sector 6.
The scam began in January this year when Mohammed Shahid Shariff came across Chandrashekar Gupta Gala, the MD of a company called SR Blue Chips. The accused allegedly promised to give Shahid 1-2% daily returns on any amount of money he deposited. Enticed by the offer, Shahid and his wife Amreen gave money via RTGS in instalments between January 17 and February 9, 2018 totalling Rs 8.64 lakh.
For the first ten days, the FIR says that the accused gave them returns and suddenly stopped. When asked over the phone, Chandrashekar and his two male partners said they would not only give Shahid all that he had invested but also a bonus of Rs 25 lakh in August 2018.
However, when not a rupee came their way after August, the couple realised that they were conned by the firm and filed an FIR at the HSR police station on October 30, 2018. A case has been registered against the three accused under the Prize Chits & Money Circulation Schemes (Banning) Act, 1978, Karnataka Protection of Interest Depositors Exorbitant Act 2004, and IPC 1860.
