Hyderabad: Fraud is worth Rs 3,000 crore, not Rs 1,200 crore, says police

Hyderabad: The Economic Offences Wing of Cyberabad police which is probing the case of multi-level marketing which involved Future Maker Life Care Global (FMLC) has found that the money made by the fraud committed by the crooks is about Rs 3,000 crore. The police seized three SUVs including a Jaguar.

Initially, when the prime accused Radheshyam and Bansilal were caught on September 8, police seized about Rs 200 crore which they collected from the public on the pretext of giving them a commission if they brought more customers. During further investigation in the case, the police raided the houses of the company’s chairman and managing director Radheshyam and his relatives in Haryana, and found incriminating material that suggest that the fraud was not of Rs 1,200 but amounted to Rs 3,000 crore and over 60 lakh victims had paid Rs 7,500 each as joining fee.