A major scam has been uncovered in the Cyberabad region, involving a company called “12 Wealth.” This company had been attracting investors by making big promises of high returns. They claimed that if someone invested Rs. 8.08 lakh, they would receive a two-gunta plot of land, along with monthly payments of Rs. 32,000 for 25 months.
The company also offered extra money to those who brought in more investors. Specifically, they promised Rs. 7,200 per month for anyone who referred new people to invest. This led to many people joining the scheme, with around 3,600 individuals falling victim to the fraud.
Operating out of Kukatpally, “12 Wealth” managed to collect a massive Rs. 300 crore from its investors. However, after gathering this large sum, the company suddenly shut down its operations, leaving investors without the returns or refunds they were promised.
Authorities are now investigating the case and working to find those responsible for the scam. Victims are being encouraged to come forward and file complaints with the police. This scam serves as a reminder for people to stay cautious and aware of fraudulent schemes that target unsuspecting individuals.
