‘Investments are subject to market risk, please read the offer documents precisely before investing’, this seems to be one of the most important lines before investing your money in any business. Recently a case was booked against ‘All Brand Promotion’ Company after duping their investors of amounts ranging from Rs. 25,000 to Rs. 45,000 each.
All Brand Promotion approached prospective investors and said they would receive equated installments every month if they stuck advertisements of reputed brands on their vehicles. The catch being the registration and processing fee, the owners had to cough up to the company to get the deal going. The fee was paid by a lot of people without batting an eyelid.
Economic Offenses Cell of Goa Police, booked criminal offenses of cheating and conspiracy against All Brand Promotions’ Sameer Veerani and Rahul Singh, both residents of Mumbai.
How to avoid such offenses in the future:
- Be alert.
- Check the genuineness of the company
- Always verify sources before investing hard-earned money into the business.
- Better to get legal advice before investing money into businesses.
Better be Safe than Sorry!