By FnF Correspondent | PUBLISHED: 10, Sep 2022, 17:12 pm IST | UPDATED: 10, Sep 2022, 17:15 pm IST
During the initial period, the users were rewarded with the commission and the balance in the wallet could be withdrawn hassle-free. This provided initial confidence among users, and they started investing bigger amounts for a greater percentage of commission and a greater number of purchase orders.
Further, after collecting a handsome amount from the public, all of a sudden, the withdrawal from the said App, was stopped, at one or the other pretext viz. system upgradation, investigation by LEAs etc.
Thereafter, all data including profile information was wiped off from the said App servers and only then the users understood the ploy, the enforcement agency said.
During the search operation, it is noticed that the said entities were using dummy accounts. So far, huge cash (more than Rs 7 crore) has been found at the premises, and counting of the amount is still in progress. The search operation is in progress, the Directorate of Enforcement said.
by : Priti Prakash
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