Kasargod : Owners of a firm by name Global Trading Solution Company are on the run after it has been revealed that they have cheated hundreds of people across the state of Kerala of cash to the tune of nearly Rs 400 crores. Police have already arrested one person named Sajith (29) said to be the director of the company.
The modus operandi of the company was to attract deposits from the customers after luring them with double returns. Sources said the company which in the beginning promised 10 per cent returns on the investment, in the later days assured double returns to attract more customers.
The company reportedly had customers not only in Ernakulam, Trissur and Palakkad in Kerala but also in Mysore and Bangalore in Karnataka. It is learnt, the arrested Sajiths wife Khadija Nausha, Abdul Naser from Ernakulam and Usha Kumari from Chervattur were on the board of directors. It is said almost all of them have fled the nation.
As per sources, the company owners and office bearers were at large ever since they convened a meeting of depositors at a Kasargod school on December 1, 2011 and collected the deposit receipts.
There is information that the company is merged with a Dubai company and even the investments of the customers have been transferred.
Investigations are underway.
