On Tuesday, the affected people visited company’s office only to find it closed. The investors who had been cheated had filed a complaint at the Panjim police station but have now lost patience and the hopes of getting their money back have turned bleak. Bhagwant Dabhale, the company’s marketing executive who was arrested by the police in this connection was released on bail after three court hearings. The schemes of the Green Ray International have lured in several people who have invested their life earnings and amount upto Rs 15 crore. “The arrested marketing executive explained to us ‘Super Green Scheme’ and promised us to double the money within 18 months. The money is gone and for 2 years we are being promised of returns,” complained an investor. “We complained to the police long time ago but nothing seems to be working in our favour, as the police have failed to act till date,” said Piedade Fernandes. The victims include elderly women, fisherwomen and small-time businessmen. The company operated in Margao for over 4 years and has now vanished.
Investment firm dupes over 1500 people
MARGAO: A case of over 1500 people being duped of over Rs 15 crore by Green Ray International, an investment chain company has come to light.
