Another con company scoots with loot

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IMPHAL Jan 5: Manipur has become easy picking for con men out to make fast money.

Yet another company played the disappearing trick after collecting a huge amount from the public on the promise of giving a 45 percent discount on household items.

The company operated under the name of M/s Mithuna Traders, order suppliers of household articles had opened shop at Minuthong Hatta in the residential building of one Md. Sabir. The proprietor of the company is Muthu Raman from Kerela.

The modus operandi of the con men was to collect money in advance from the public and make delivery on the booked goods after 20 days. The eager customer mainly consisting of women queued up for bookings on a myriad of household items ranging from pots and pans to electronic items. As IFP made an investigation in the regard on December 29,2010 ,the owner had stated that they had opened shop around a month back and they had links to the big companies , so they were able to give the items at a discounted rate. The 20 days was the time for the goods supposed to arrive by road transport.

The shop displayed TV’s, microwave ovens, cameras, furniture and all sorts of household items with the original price and the discounted rate. A flat TV system costing nearly 16,000 Rs was offered at 8,500 Rs.

After collecting a sizeable amount , Mithuna Traders closed shop on January 2 and failed to open the next day. Irate customers after learning that they have been conned mobbed the premises of the shop and tried to break in. A police team fired several tear gas on the mob to disperse the crowd and later announced that the customers should lodge a formal complaint.

Still no customer has filed a formal complaint and the goods presently inside the shop will be confiscated after consultation with senior police officials, a police source confirmed.

It may be mentioned that Mithuna Traders made good their escape while there was no publications in the state for the past few days.

3 COMMENTS

  1. Hats off to manipuris….

    To all the conmen, fraud financial companies in the world…come, visit manipur..this is a paradise for you…follow the following simple rules

    IF you act as if you are product selling company

    (1) offer discount say 80 % on advance booking
    (2) Offer free gift like a car, scooter on those who book more than 20000.
    (3) Offer endless consolation gifts.
    you don’t need to worry. no one will check your credibility, authenticity or any related documents if any.

    If you want to act as finance company, then
    (1) just say, deposit 100000 rupees and after a few weeks or months, return will be 40%
    (2) start a network with a promise of 20% for every new recruit
    (3) offer car, scooter, and anything for achieving legs.

    you don’t need any SEBI permission, credit rating from authentic ermission, no irda, no rbi or anything

    3. if you want to start money lending business

    hurray!!! no RBI guidelines and nothing at all. you can start NBFC to start lending money and set rate of interest as much as you want. no guidelines at all.

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