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UNIPAY2U chit fund agents untraced, Investors yet to get back money
TIWN
UNIPAY2U chit fund agents untraced, Investors yet to get back money
PHOTO : TIWN

Agartala, May 29 (TIWN): After crashed out of UNIPAY2U, a Malaysian corporate company since 2010, the agents appointed under the chit fund company though assured of returning back the investors’ money, 4 years on, they could not be traced and the customers are yet to get back the money.

UNIPAY2U Marketing Private Limited, Corporate Identity Number: "U74999TN2009PTC071782" incorporate under the Companies Act 1956(No.1 of 1956) collected a huge amount of money from Indian citizens.  The company has not paid withdrawal amount since October 2010.

The top executives of the company ran away from Indian with huge money of public. The company is authorized to run its business based on consumer products through gold trading. Unipay2u was operating bank accounts and transact huge amounts with SBI, HSBC, ICICI, AXIS and HDFC.

Many people invested their hard earn money in the said chit fund company. In the initial two-to-three months they would pay a few investors and then they would either vanish or give various excuses that they would be paid later with due interest. They have opened up various websites to lure the investors which deal with gold trading business.

It collected crores of hard earned money from poor people with a promise 200% return within ten months. They appointed lots of agents with commission basis and collected Core of Cores Indian rupees from different parts of India. Since October 2010 they totally blocked the payment to their customer and now they almost closed their Bangalore office and absconded.

Most of the agents have fled from their residents as they remain under the red eyes of the investors.

Chit funds, better called ‘cheat funds’ have mushroomed over the last 30 odd years over the country and freely carrying out totally illegal business of mobilizing money from the common people particularly the poorer strata and lower-middle class with the false promise of providing hefty return within shortest possible time.

 

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