News Karnataka
Monday, April 22 2024

Commissioner of Police orders probe into investment fraud

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Bengaluru: Commissioner of Police T. Suneel Kumar on Wednesday ordered a probe into a cheating case involving a city-based finance company, which allegedly duped hundreds of investors promising huge returns on deposits.

The Commissioner of Police directed the jurisdictional Assistant Commissioner of Police, Pulikeshi Nagar sub-division, to probe the case involving over 500 investors, who had deposited amounts ranging from Rs. 50,000 to Rs. 5 lakh with the company. They later found the firm, Ambident, located in R.T. Nagar, locked, and the father-son proprietors absconding.
The investments were made towards the end of 2016. The investors sensed something amiss when they did not get any returns by last month. They filed complaints with the D.J. Halli police and later staged a protest at the Freedom Park. However, the victims, mainly working women and small-time businessmen, said the police did not take any action.

Finally, the investors met the Commissioner of Police and submitted a representation, based on which he has now ordered a probe.

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