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Are
you being lured by
Exorbitant Returns
on your Investments |
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In
our rapidly expanding
Thane City, on account
of new residential
complexes, ever
increasing population,
influx of outsiders
who come in search
of employment, opening
of new branches
of Banks and other
financial institutions
etc., there has
been a substantial
increase in the
economic offences
committed by so
called White Collar
criminals. |
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These economic offenders expertly
prey their targets from certain
gullible sections of the society
such as unemployed youths, recently
retired employees or who have
opted for Voluntary Retirements,
non working housewives, newly
married couples who are looking
for residential premises etc.
They lure these people by promising
them high returns on their investments
or in some other way such as
allotment of bungalow plots or
houses at lower rates. In this
fashion such economic offenders
swindle away the hard earned
money from their victims.
If one studies the modus operandi
of such economic offences, it
is noticed that such offences
are committed mainly in the
following ways. |
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1. |
Promising
government or foreign
jobs or jobs in shipping
companies, to the
unemployed youth |
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2. |
Promising
residential plots,
tree plantations or
houses at subsidized
rates. |
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3. |
Promising
exorbitantly high
returns on the investments. |
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4. |
Inducing
the members of public
to form a chain of
agents by promising
them goods such as
monthly groceries
or medicines, at
subsidized
rates. (Multi Level
Marketing cases). |
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5. |
Formation
of bogus housing societies
and collecting deposit
money from the registered
members by giving
false promises of
allotment of bungalow
plots, houses in government
projects or government
quotas etc. |
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6. |
Frauds
committed by submitting
bogus documents to
the banks and other
financial institutions
and thereby obtaining
housing loans, Vehicle
loans etc. |
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It
is further observed that the offenders
involved in such kind of economic
offences are |
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1. |
Generally
from the recognized
sections of the society
such as Building Contractors,
Retired Bank officials/
Government servants
etc. |
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2. |
Such
offenders misuse their
positions in the society
and their knowledge
about the working
of the various government
departments, towards
the commission of
such offences. |
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3. |
Properties
acquired in the commission
of such offences are
registered under bogus
names or under the
names of the friends
or relatives of such
economic offenders.
As such, detection
of such offences and
properties requires
a skillful investigation
which at times is
quite time consuming. |
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4. |
Such
offenders enjoy the
services of battery
of legal experts for
their defenses during
the court proceedings. |
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5. |
The
economic offenders
also try to exploit
the loopholes in
the existing Civil
and Criminal laws
and in a number of
cases they succeed
in the enjoyment of
their ill gotten
wealth and assets. |
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