FOREX mastermind absconds with crores

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IMPHAL March 14: Following the expose by this newspaper regarding network scam FOREX achievements and VISAREV ,the alleged kingpin behind FOREX network scam , one Laishram Brajamani alias Korou of Heingang Mayai Leikai has absconded the state with his family and near relatives.
Addressing mediapersons at Keisampat Kangleipak Meira Office ,secretary of All Manipur Forex Achievement Network Association, K Sunil Meitei stated that nearly 300 crores have been collected from more than 13,000 investors from the state by FOREX achievement,the mastermind behind the scam , Korou first promised to pay off investors after the pyramid scheme collapsed last year. He even paid 3 % from his own pocket for the members which joined at October last but could not meet the requirement of the total number of pending payouts of the investors. After failing to keep his word, Korou was hounded day and night by the  investors of the network, afterwards he disappeared with his family from February 9 and has remained untraced still. It is alleged that Korou has pocketed an astronomical amount.
Sunil further stated that, following the events, a body (AMFANIWA) was set up comprising of FOREX investors on February 6,the investors have been demanding their investment returns and in the hope to salvage some amount if total recovery cannot be made possible. “We have submitted a referendum to the Chief Minister and Governor of the state to look into the matter so that necessary actions can be taken up. A similar intimation to the Prime Minister and President has been sent by the association today, we hope that the our problems will be addressed unless unwanted violence might erupt in the state”, he said.
The FOREX scam started operation from May 2010 in the state and promised to pay 100% returns for the investors within 200 days. Returns were paid for roping in ‘down lines’ and for matching pair’s benefits. Korou with his close knit team spread the network throughout the state and thousands invested in the tune from Rs 10,000 up to several lakhs onwards. There was some payouts for some time ,but the payments stopped abruptly nearing October last. Following complaints from the investors, Korou and some leaders finally disappeared after pocketing the money of scores of investors.
Sunil further stated that the investors have suffered a huge loss and several families have been affected, some have started suffering from mental trauma following financial breakdown, he said. He further appealed the concerned authorities of the state to inquire into the matter and take up stringent measures so that similar recurrence do not happen again in the state.It may be mentioned that IFP broke the news that FOREX investments had collapsed and subsequently VISAREV, now cracks have started developing at Index Daily ,another suspected network scam.

3 COMMENTS

  1. When I was at Manipur, I warned many friends not to get involved in these things as there is nothing like this anywhere in the world which gives such huge percentage. But they denied my advised and enrolled with lakhs of rupees. Some even sold their lands. We have earlier heard of such things at Manipur., but we never seem to learn. They are greedy of quick riches and become blind to good advises. And lo…300 crore, its a lot of money for a state like us.

  2. To all the persons who know how to complain to President, Governor and CM,
    where were your brains when FOREX promised 100% return within 200 days? Didn’t you have the curiosity on how they would be able to earn a magical figure so that they give you 100% + their expenditure running the company+ their % of profit?

    Are they into Drug dealing? Gold is profitable but not that much.
    One simple answer! your GREED.

    I feel really sorry for you people but you people sometimes act too smart.

  3. Dear Sunil,
    The Forex Achievements not only affected Manipur but also affected Assam ,Mizoram and north east as a whole . Mr. Ratan singha of Nambol , Kamong came in cachar and expanded their business and collected crores of money promising to return within 200 days.I therefore requestd that you would be kind enough to consider the isuue of outside Manipur too because the uplines are from Manipur.Thank you.

    AMAR NATH SHARMA
    LAKHIPUR,CACHAR , ASSAM

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