I was involved in an investment scheme with a person where I transfer him minimum amount of Rs. 1 lakh and I would get returns of Rs. 3000 every month till the period 1 lakh is invested with that person. So for every additional 1 lakh I would get Rs. 3000. When I plan to close the investment I can withdraw my complete principal amount whatever I paid. Now my issue is that initially I was getting the returns of Rs 3000 for 4-5 months after that the person stopped giving the returns and started giving excuses that he is in a situation where he cannot give the returns. When I asked him to return the complete invested amount of around 13 lakhs he said to wait for 6 months till he gets back the amount from his business. Its been more than 6 months now that person is not reachable on calls and is no where to be found. However when contacting on whatsapp through chat he responds saying to wait for a while he will return the amount soon. Also on whatsapp he does not answer the whatsapp call or talks to me. I tried several times to talk to him but to use. Please help me how can i get back my amount.
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You should lodge an fir against this person immediately. This is a fraudulent scheme wherein he takes money from other people like this and from there gives it to you and takes from you and gives it to other people for some time. Then vanishes with all tge money.
Lodge a police complaint.
First of all you should have realised that nobody can be able to pay interest on the money invested with him @ 3% per month.
If somebody is paying that huge interest amount then his business should be doing very well and it should be a big establishment.
Whereas from your contents it appears that the person who is doing business is not into a very big business neither he is getting anything to the extent of paying back to his investors as return of investment.
This is a clear case of fraud.
You have been trapped into this racket by fraudster making you believe in him without giving room to you to suspect his integrity.
The initial return of interest amount for few months was to instill confidence in you so that you will be prompted to invest more and more, to enable him to get away with huge amount.
He might have cheated many people like you, you can probe into this and collect the details of the person who too were being cheated by him, and give a complaint along with others to the economic offences wing of district police to take proper legal action and for recovery of your Mooney.
Besides you can issue a legal notice to him and file a money recovery suit simultaneously, if possible you can file a petition seeking to attach his property before judgment for the security purpose in the money suit,.
File police complaint of cheating and criminal breach of trust under section 406,420 of IPC
2) also issue legal notice to person toe refund your money with interest
Where is this company based?
did you sign any agreement with him?
the only option now will be to sue him by filing a suit
lodge a police complaint against him for fraud and cheating. They will investigate and let you know.
- It is looking that person has cheated you in the name of investment
- If you have paid the amount online or having proof of payment , then you can recover the amount from him legally.
- However, you can firstly lodge a compliant against him before Cyber Crime Cell for the offence of cheating an NRI and breach of trust .
- Further, if no action taken place, then file a compliant before the magistrate of your jurisdiction for getting amount refund and punishment .
-Further , send him a legal demand notice , and if no response then file a recovery suit for recovery before the court in India with the help of any relative in India , and your presence is not mandatory before the court .
You can approach court for the same and take relief
Dear Client,
As per the facts you have provided, it is not clear whether you drew up any legal document or not as a promissory note or anything. You can file a civil suit for recovering the money he owed through a promissory note or loan agreement, you can do so under Order 37 of CPC which allows the lender to file a summary suit. Or you have to prove that the person had committed a criminal breach of trust and had not returned back the money. So you can file a suit under Sec 420 of IPC as the person to whom you had to lend the money has cheated you.
Thank You
