A company called Radiant Finance is allegedly running the scheme by “falsely promising huge returns on investment, part of which was used to pay hefty interest on earlier deposits, thus attracting more and more gullible individuals to invest in this unregistered, illegal financial company”, said KCP.
TFM Desk
The proscribed Kangleipak Communist Party (KCP) on Thursday claimed that it has unearthed another “illegal” multi-crore ponzi scheme in Manipur. The KCP alleged that the scheme is being run by a company called Radiant Finance.
As per a press statement issued by M. Punsiba Meitei, secretary, Information & Public Relations, KCP,its home department has unearthed the scam allegedly operated by Radiant Finance under on one Nepram Romeo Singh (50), S/o (Lt) Nepram Lokeshwar Singh of Sagolband Nepram Menjor Leikai and his family “with the aid of a gang of misled unemployed individuals”. This followed after having successfully investigated and ensured that over nearly 100 cooperating victim investors of the “so-called Manipur Development Financial Investment” got a substantial amount of their money back.
Just like the modus operandi of the so- called Manipur Development Financial Investment, the Radiant Finance is allegedly running the scheme by “falsely promising huge returns on investment, part of which was used to pay hefty interest on earlier deposits, thus attracting more and more gullible individuals to invest in this unregistered, illegal financial company”, said KCP.
The outfit claimed that based on a written complaint against the Radiant Finance and Nepram Romeo, by over 75 victim investors with a total investment of around 9 crore rupees, its home affairs department has been investigating the Ponzi scheme, which involves over 40 crore rupees and counting. “Our investigation has also revealed that a considerable amount of the investors’ deposits was used to purchase immovable assets not only in his own name but also in the name of his family members, who continue to enjoy a lavish lifestyle with their children enrolled in prestigious educational institutes outside Manipur”, said KCP.
The outfit pointed out that “for most of the victim investors, life has liberally become topsy-turvy. Recently, a female victim investor also tried to take her own life by consuming pesticide as she suffered repeated torture by her husband, who blamed her for ruining their family”. This is just one case of how the victim investors of the Radiant Finance Ponzi scheme have suffered on account of it, said KCP.
KCP stated that given the brutal impact of the Radiant Finance scam on the victim investors, the Politburo Standing Committee of the Party has decided to “punish Mr Nepram Romeo Singh and his co-scamsters, including his wife and sisters at the earliest possible moment in the most befitting manner”. The KCP has also warned people against selling, buying or mortgaging any assets belonging to Nepram Romeo Singh, his wife, children and two sisters and other co-scamsters, particularly, his most trusted henchman, Mayanglambam Rabesh Meitei, alleged KCP. “If anyone is found to have ignored this warning, he or she will also be punished in the harshest manner possible”, asserted KCP.