Mumbai: Over 15,000 investors cheated in the name of god

Mangalore Today/ CNN/IBN

Mumbai, Nov 23: Another Stock Guru-like scam has been unearthed which exploited the devout. Around 15,000 investors from the Christian community were duped in an investment scheme that promised a tour to Israel for six days, investment for a divine tower, schools and hospitals for the poor.
 
The scheme was a perfect narrative to lure investors in the name of religion. Many from the Christian community like Clement D’Souza fell for the VCare scheme, putting their entire retirement money, only to receive nothing in return. "I invested more than Rs 18 lakh of my retirement money into this scheme," he told CNN-IBN.

While the company has been sealed by the Thane Police’s Economic Offences Wing, the investors have already lost their money. Officials say the scam is to the tune of over Rs 34 crore. The promoter, Sunil Saldanha, has been chargesheeted and the case is up for hearing in courts.

Balkrishna Purnekar demands CBI probe into V-Care cheating case

Thane district Congress committee chief Balkrishna Purnekar has urged Maharashtra chief minister Pritviraj Chavan to order a CBI enquiry into the alleged multi crore cheating case by city-based V-Care group of companies, whose owners have been accused of duping gullible devotees in the name of God.

In a memorandum, Purnekar said the local police which had registered a complaint in the case had not done much progress since the last 3-4 months.

The company owner Sunil Saldhana and wife Rosita, are now absconding after they allegedly cheated many people in Mumbai of crores of rupees, he said.

They talked people into investing and multiplying their money with them over the years and then fled with crores of money. Many innocents have lost their life time earnings to them. Hence fast action should take against the guilty and all those involved with the V-Care fraud, the leader demanded.

Last year, several people had through consumer complaints and other websites raised their voice and warned the people about the fraud Thane company.

One Monica Musharraf from Mumbai had stated in the consumer complaints website that the company, which dealt in concept selling business, has managed to fool around 44,000 people all these years.

The company has been targetting all poor and middle class people to invest in their schemes and assured them more than three fold money in return on the amount they invested, it was alleged.

The incidents came to light when Lancy D'Souza of Andheri lodged a complaint at Naupada police station here of being cheated by the Manglorean couple.

After an FIR, police raided the company office and took into custody, directors Balraj Mallik, 32, Anju Pandey, 25, and Deepali Patil, 26. D'Souza alleged in the complaint that the Saldanha couple, who are absconding, cheated as many as 45,000 people from Mangalore, Pune, Bangalore and Dubai.

Apart from this, he also assured investors of providing them flats and a travel to Israel people, D'Souza has alleged in his complaint.

Police have registered a case under section 406, 420, 34 and are looking for the culprits.

The Saldanhas also organised the first transgender beauty queen pagaent in Mumbai recently and invited celebrities like Zeenat Aman and Celina Jaitley for the event.

'Praise the Lord' : Mangalorean Fraudster Flees with Crores of Rupees

•    Sat, Mar 26 2011 10:21:10 AM

News & Pics: Rons Bantwal 
Daijiworld Media Network - Mumbai (SB/VA)

Mumbai, Mar 26: In this fast-paced world as much as people are turning materialistic, the need for peace through spiritual bliss and blind beliefs too has seen an increase. The trend and this naievity of people has provided the right fodder for opportunists to pose as Godmen or mediator to God in order to make some easy big money.

An incident of duping people of their money in the name of religion has been reported from here. The fraudulent duo who have fled with crores of rupees have been identified as Saldanha couple, basically from Ammembal, Sajipa, Bantwal of Dakshina Kannada district. They preached the devotional phrase, Praise the Lord and in turn also sowed the seeds of greed for money amongst thousands of gullible devotees under the company name, V-care Group of Companies. It can be recollected that Saldanha through his company had also announced first-ever Pan India Transgender taleny Contest named V-Care Indian SuperQueen at Taj President Hotel in Mumbaio Jan 11, 2010 in the presence of actress Celina jaitely, transgender Lakshminarayan Tripathi and actress of Bandit Queen fame Seema Biswas.

Saldanha with celebrities

The case of coning came to light though a bit late when Lancy D'Souza Jerimeri of Andheri East lodged a complaint at Naupada police station, Thane of being cheated by V-care Group of Companies managing director Sunil Saldanha and his wife. After registration the case through FIR, the police raided the company office and took into custody, directors Balraj Mallik (32), Anju Pandey (25) and Deepali Patil (26). Further, Lancy D'Souza has alleged in the complaint that the Saldanha couple are absconding.

It is said that Saldanha has cheated as many as 45,000 devotees stating that he is a devout as well as an entrepreneur, emotionally blackmailing them to invest in his business. Apart from this, he also has assured the investors of providing them  flats and a travel to Israel among other inducements. Among those who were influenced by his conniving words were people from Mangalore, Pune, Bangalore as well as Dubai, Lancy D'Souza has alleged in his complaint.

Police have registered a case under section 406, 420, 34 and are looking for the culprits.

CM quota: urban development dept told to file reply

When Andheri resident Lancy D’Souza, 40, heard of a scheme where he would receive 10 times the amount he invested in a Thane firm, he thought he had hit a jackpot.

MUMBAI Updated: Mar 23, 2011 01:34 IST

Susamma Kurian
Hindustan Times

 

 

When Andheri resident Lancy D’Souza, 40, heard of a scheme where he would receive 10 times the amount he invested in a Thane firm, he thought he had hit a jackpot. D’Souza invested Rs6,500 in V Care, a Thane-based firm, in August 2009 and was promised Rs70,000 in 12 months.

He is among the 78 victims who lodged a complaint with the Naupada police on Monday.

The police arrested three officials, Balraj Malik, 32, Anju Pandey, 25, and Deepali Patil, 26. Sunil Saldanha, the managing director, is missing. Police suspect that nearly 40,000 people have been cheated and the total fraud could run into crores.