[BossOfHyips]

Hi all,

Whether people will get back money from safeatom or not, safeatom scammers are going to have good time in jail.

Gang of five, all from Bharuch, India have been arrested 2 weeks ago. They also bought Luxury cars and land, all to be seized by Police.

Check News Report for more information.

[BossOfHyips]

By the way, forgot to add. Total scam value was $5 Million

but all is dust now

[okosh]

Fake firm fraud: 2,000 duped of Rs 25 crore
13 Feb 2009

BHARUCH: Interrogation of three persons arrested for running a dubious website, allegedly of a fake firm, has revealed that more than 2,000
investors of Bharuch were duped of Rs 25 crore. The fraudsters also had links in Malaysia and Singapore to run their illegal business.

Last Friday, Bharuch Local Crime Branch (LCB) had arrested three members of a gang, allegedly involved in duping number of investors in Bhrauch, Ankleshwar, Vadodara and Surat. According to the police, accused were promoting a finance business, wherein investors were promised to get double the amount they were investing in the firm.

Gang members Hemant Patel (31), Harshad Rana (25) and Raviprakash Mahiswari (27), all residents of Bharuch, were running a firm Safe Atom' and for attracting investors, they had developed website www.safeatom.com.

Initially, they had returned several lakh rupees to many investors, but later as their network increased, they stopped payment and updating the website. When some people realised that they were cheated, they approached the police.

During the three days of police remand, they confessed that there was no such firm and their business
was fraudulent. Their contacts in Malaysia and other countries helped them with foreign currency and paying initial instalment to investors in foreign currency.

LCB inspector Dilip Agrawat told TOI that Mahul Patel of Bharuch and Urvish Bhatt of Vadodara, the alleged masterminds of this scam, have been declared as "wanted" and efforts are on to nab them.

Police sources said Mahul and Urvish have more than four luxury cars and land on Mumbai-Pune national highway. "Soon, we will approach the court to seize their property," Agrawat said.

“Police have already alerted all airports in the country as absconding kingpins may try to fly abroad,” he said. “The fraudsters were running another such fake business in Vadodara under the website swissbank.com' and key person there was Urvish Bhatt,” police sources said.

[awty]

Good to see another one in the 'proper' place.
It's a 'trend' that I happen to think will continue, and grow...
(Should be 'interesting' when 'certain entities' get their hands into more 'payment processors'...)
Just my opinion,
Jeff

[Xenia]

http://timesofindia.indiatimes.com/a...ow/4126889.cms
http://timesofindia.indiatimes.com/a...ow/4139104.cms
http://timesofindia.indiatimes.com/a...ow/4167432.cms

[calco]

Great to see this.

But don't know we will get back money or not.

[Tdinoz]

Wasn't this the guys running the fake safe atom site?

-------

Originally Posted by calco

Great to see this.

But don't know we will get back money or not.

Your taking the mickey? ( - ;

[BossOfHyips]

Originally Posted by Tdinoz

Wasn't this the guys running the fake safe atom site?

-------


Your taking the mickey? ( - ;

Actually he was also promoting the site offline and which lead to one businessman in India deposited $78,000 in the website.

They also duped some people with the website www.swissaccount.com which promises to transfer money to swiss accounts which is considered haven in the period of economic crisis.

Amongst the Indian Hyip players, this news is the matter of

[ghalia]

It’s great news
and hope they can get our money back .

[kimongo]

is the money will be back to the people or not ?
i invest $17000
do you think it will be back to me ?