January 6, 2006
Editor’s Note: Talk about a scam-hopefully this won’t bring rize to similar scams elsewhere.
Source: The Hindu Business Line
Ahmedabad , Jan 6
EDIT seven pictures on Adobe Photoshop, a common software, and walk away with Rs 7,500 per month. Too good to be true? For about 5,100 people, mostly students in Ahmedabad, it was exactly that as they fell prey to a Ponzi scheme that allegedly duped them all to the tune of Rs 5 crore.
According to a complaint filed with the Ahmedabad police on Wednesday, as many as 5,100 persons have allegedly been duped by a company claiming to be engaged in carrying out computer graphics services.
The company’s office, in a posh commercial area of Ahmedabad, is closed.
The complaint alleges that the promoters have vanished with funds collected as security deposit from its freelance workers.
The company issued advertisements offering Rs 7,500 to edit seven pictures on a CD.
The catch, however, was that a `security deposit’ of Rs 10,000 was to be made by those taking `assignments’, as the CDs contained pictures of jewellery that were proprietary designs of the company’s client.