The Ponzi Shaken

8 years, 5 months ago - April 15, 2013
Scams, according to the Ponzi scheme, are indeed practiced in Mauritius. The principals of four companies - Whitedot International Consultancy Ltd; Sunkai Ltd., Je T’aime Marketing and Power Masters Entrepreneur Cooperative Credit Union Ltd. - have been offside by the police. This tightrope finance would have eaten thousands of investors.

Money laundering, easy money, wages higher than banks and insurance companies. A thousand customers Whitedot companies, Sunkai and Je T’aime Marketing were seduced. They deposited Rs 640 million in Whitedot or Rs 264, 575,000 deposited in cash. The largest amounts invested Rs Rs 12M and 7M in cash, lists the clients Whitedot. Others were content to Rs 5M Rs 2M, Rs1M and Rs 500 000 in cash.

However, the law stipulates that any deposit of more than Rs 500,000 must be made by bank transfer or by check. The police therefore focuses on those clients / victims, some of which are suspected of money laundering. They will soon be questioned "under caution".

The biggest investment made by bank transfer amounted to Rs 68M. The client calls Govinduth Lutchman said Sanjiv and inserted Rs 80M, Rs 12M cash. Whitedot agent, he is in custody. The banks in question have they informed the Financial Intelligence Unit (FIU) of these big bank transfers exceeding Rs 500M in total? In any case in Whitedot and other companies, investors no question about the origin of money (source of funds).

Sunkai Ltd has not been idle since December 28, 2012 until March 2013. Its revenue is Rs 319 million. It seems that the end of December 2012, between 28 and 31, Sunkai got Rs 27,932,500 investment in four days. It resumed operations on January 12.

Created July 23, 2012, Sunkai is originally working with real estate transactions. Mohit Ramloll is the director, but is managed by Bhimla Ramloll. The company promised its customers double their investment in three months: Rs1M invested and received Rs 2M in three months.

In 2013, Bhimla Ramloll offers customers 10% of their capital each month. After three months, the client uses the capital invested. In February, a customer has invested Rs 7.2 million. Each month, it moved Rs 720,000 and its capital was to be delivered in May 2013. Alas, everything is frozen. But, to date, no client has complained Sunkai for non-payment of money.

Before the arrest of Bhimla Ramloll, a customer told the Défi Plusthan all the procedures "are registered according to the Laws of Mauritius a lawyer" and that the company is VAT Registered. In January, Mr. Rajendra Appajala in the presence of Bhimla Ramloll, should explain that the client is directed to the company and not to him.

Vigilance implementation

Police warns: Companies of the same nature as Sunkai and Whitedot still operate. Casernes centrales asking the public to be alert before investing in projects that promise huge profits. Overlap indicates that the company E. based in Ebony cash investments to the public. The Capital Entry is Rs 1M. It practices the formula "One to Five" (Rs 1M set to pocket Rs 5M). Gains are presented in the form of loans.

Je T’aime Marketing: Magic in 90 days

Wednesday arrested the lawyer Zakir Mohamed found bail. The police accused him of conspiring with Marjorie Bazerque and Akbar Khan Bachooa to persuade Vishal Rao N. to invest Rs 1M and promise double its investment in 90 days. The commitment has not been met and Vishal Rao N. complained.

Sunkai at Grand-Bassin

Sunkai was indeed present for the pilgrimage to Grand Bassin, this year. The company had a booth to provide food and drink to pilgrims, and a place to rest.

Millionaire on straw

" Nou pé ale travail partout pour gagne cash”, says this saver from Vacoas has invested Rs 4M in Whitedot Int. " ou pas capave manger, ni boire, nou pane réussi jouir nous cash. Tous les revenus de nos plantations de canne, de brède chouchou, bringelle, fruits ont été investis dans cette affaire "cries the woman 55.

Didieu Papie

Didieu Papie is accused of using the Power Masters Entrepreneur Cooperative Credit Union Ltd (PMECCU 800 members) to practice Ponzi scheme. A member of the Credit Union filed a complaint against Didieu Papie to CCID. He had given Rs 1.25 million against the promise of having interest of 5 to 6% per month. Realizing that he had been duped, he denounced. Arrested by the MCIT, Didieu Papie denies these allegations. He is known to the police for issuing rubber checks, forgery and false imprisonment.

At Central CID - Police and advocates on the spot

After three weeks of investigation into the massive fraud in the manner of the Ponzi scheme, the Central CID has arrested 17 people, including notables. This week was marked by the arrest of lawyer Zakir Mohamed who is brother of Labour Minister Shakeel Mohamed.

Friday, two big heads fell. It is the lawyer Rajendra Appajala and police inspector Bhurdowaj Bhujun alias Vishnu, in charge of post-Eau Coulee. The reason for their arrest: they have maintained links with the company Sunkai led by Bhimla Ramloll, ex-councilor of the municipality of Quatre-Bornes. This last fact about her in 2007 in the case of the allocation of market stalls.

The Central CID, led by ACP Vudamallay and Jangi, accuses the lawyer Rajendra Appajala have his signature on the "Blank investment contracts" of Sunkai. A provisional charge of "Conspiracy to Carry out Financial Activity without license from FSC" was lodged against him. Rajendra Appajala was released against a bond of Rs 50,000 and having signed an acknowledgment of debt of Rs 100,000.

According to investigators, the attorney should have checked whether the company was operating legally. In his defense, the attorney denies having signed contracts Sunkai and claims no financial transaction has taken place in his presence.

FSC: "No permit for these transactions"

Transactions under the Ponzi scheme is fraudulent activities for which the Financial Services Commission (FSC) has not granted any permits. Before issuing an operating license, the FSC investigation to see whether the plaintiff company is eligible or not.

Agents running smoothly

Agents operated as real beaters. A constable was even reported about the Bhujun inspector of Curepipe. According to the constable, police inspector favored customers Sunkai at his place of work. Agents pocketed high commissions. For each new investor, a commission of 5% was paid as follows: 2.5% to the agent and the difference to an investor who, in turn, persuaded his friends and family to follow in the chain. A deposit of Rs1 million, Rs 50,000 is divided between the agent and the investor.

Cops tempted by easy money

It is an open secret: many police officers and customers of these companies operate on the principle of the Ponzi scheme. "After 25 to 30 years of service, our Lump Sum is around Rs 1.2 million. However, investing in these companies, we had the guarantee of high returns. Police are now multimillionaires with Sunkai and Whitedot."

Companies vs Banking / Insurance

The companies operating under the Ponzi scheme are popular face to banks and other financial institutions. In particular, because of the high compensation they offer up to 10% interest per month, against 3, 65% to 7% for banks and insurance companies. "A deposit of

Rs 100,000 Rs 10,000 guarantees of monthly dividends, "said a policeman.

Politicians and Ponzi

A former politician who held important positions at the top of the state has been customer Sunkai Ltd.. He is not alone. Among the big customers, politicians on both sides are cited.

PMO clients. These companies even have their entries in the Prime Minister's Office. A group of officers is presented in local Sunkai where they affixed their signatures on contracts.

The tenor of the bar. Even members of the barreau can not resist the call of easy money. Like the tenor of the bar. Such clients do not use agents. They go directly to the Big Boss. It is suggested that the lawyer class has attracted more customers.

The Sociocultural juggles million. At the head of a socio-cultural organization, this man has invested Rs 25millions. In two months, he pocketed double.

The inspector Bhujun on the grill

Friday, the inspector Vishnu Bhujun suffered a first interrogation in the presence of his lawyer Samad Golamaully. His arrest came after allegations made by Bhimla Ramloll against him. The latter stated that the inspector Bhujun was indeed aware that Sunkai Ltd. held no license.

Former councilor also stated that the police would blackmailed her. In addition, Vishnu Bhujun has recruited several agents, including police officers. In his defense, the inspector confirms that it acted as an agent / investor in Sunkai Ltd.. "I met Mrs. Ramloll mid-2012. She explained to me that she managed companies and real estate Investment Holdings. I did a test Investment of Rs 300,000 in the space of 30 days, I pocketed Rs 690,000. I put half of the money aside before reinvesting the other half. '

Police suspect the inspector Bhujun have made transactions exceeding Rs 22 million. To this day, he was interviewed on transactions of Rs 11.3 million. The inspector argues that "firmly believed Sunkai Ltd. operated legally." Bloodhounds are present information according to which the inspector helped Bhimla Ramloll paying customers at the time of his arrest three weeks ago. Investigators want to question the origin of the amount in his possession and payment of several million rupees. His interrogation will continue this morning.

Detained, the inspector will be translated into Vishnu Bhujun Court today. During a search of his home, documents and computer equipment were seized. Other officers will be arrested soon Sunkai Ltd.

Note that on Friday, the suspect Zakir Mohamed was also interviewed by the police in the case of Je T’aime Marketing.

 

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