More complaints against Goldquest Co on cheating depositors

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Chennai, May 5 (UNI) The case of Goldquest Company, which is in the eye of a storm for cheating gullible public by promising gold coins in return for investments under multi-level marketing scheme, is becoming more intriguing with 90 complaints being lodged on a single day today.

Police sources said scores of investors, who were virtually taken for a ride by the Hong Kong-based firm, made a beeline to the Chennai City Police Commissionerate for the third day today seeking action against the company.

About 90 people have preferred complaints against the firm urging the police to take steps for getting their money back.

Each of them have invested a minimum of Rs 35,000 to Rs one lakh after the firm promised gold in return.

Meanwhile, police have seized 16 more kg of gold and 800 kg of silver in raids conducted late last night. Costly watches and 150 mobile phones and bank documents were seized during the night-long raids.

With this, police have seized about 87 kg of gold after special teams seized 71 kg of gold on Saturday after a large number of depositors besieged the Police Commissionerate alleging cheating by the firm.

So far, seven people have been arrested in this connection and remanded in judicial custody.

Police suspect the company would have cheated the depositors to the tune of more than Rs 100 crore and investigations were on in this regard.

The company was sealed and police personnel deployed for security.

The company, allegedly involving some popular personalities of the film industry and small screen artistes, lured the gullible public by promising gold coins for every deposit, and return of desposit for helping enroll two additional members.

With an impulsive urge to become richer in a short span of time, several people showed interest in the scheme and enrolled themselves.

But in the end, the tall promises proved to be only a mere lip service as none of the depositors received any gold coin.

The cheated depositors alleged that the company officials brainwashed them by making false promises and lured them into joining the scheme.


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