The scams are frequent occurrences since the last 10 to 15 years. Earlier also it used to be there, but few in numbers. Now it has reached an alarming proportion.
About few years back many of us are aware of the swindling by the Chit Fund Companies. Many may remember or lost precious hard earned money in the investment frauds like the Anubhav Plantations, Eswari Finance, Vini Winki etc. Then there is the case of the horse race, stock market, satta, matka, forward trading etc where millions of people invest and lose everything.
If we try to find out the reason why people are falling prey to such con men or swindlers it will not be difficult. What is happening is that the general attitude of people is rapidly changing to making money by hook or crook. The feeling is that money is everything and want to make fast buck and become rich overnight if possible or as early as possible. Since the normal source of investments like the government schemes of postal investments, government bonds, bank deposit etc give less returns. Under that circumstances clever people come with proposals with attractive investment returns. They have some conman with them and jointly they do some activity like depositing some amount by their own men and withdraw the amount with the fabulous interest. These fraudsters employ some local persons in the Office and pay high salary. The people observing this get deceived and start investing. When the investment amount reaches to huge proportion, those who started the fraud disappears with the money of investors.
We do not think as to how any body can pay more than the interest charged by the loan giving institutions. Just as we want to make fast buck, the swindlers also want to make fast buck. We are ordinary people, so are afraid of or incapable of doing any fraud but get defrauded.
Ramanathan A R