Money doubling: 3 firm officials held

BANGALORE: R T Nagar police have registered a criminal case against UNI PAY 2U marketing company which was assuring people that it would pay back double the money they invest.The police have booked a criminal case under the Praise Chit Money Circulation Schemes (Banning) Act 1978 and arrested three persons.They accused have been identified as the company’s General Manager Sudarshan (44) of Mahalakshmipuram, Team Leader SA Mohan (43) of Marathahalli and Financial Consulting Agent Vishal (32) of Koramangala.The police have registered a case based on the complaint filed by one Geethraj, a resident of Bendrenagar, Banashankari.He invested `54,000 and the UNI PAY 2U had assured him of giving 20 percent rebate as `10,000 each for ten months.The company office was situated at Ganganagar near RT Nagar and now the office is shut, police said.According to the police, the company was started in Chennai in 2009 at Palace Apartment, Palace Cross Road and shifted to Bangalore in June 2010.The company has its office in Malayisia.Its CEO Mugundan is from Malaysia and the Director Vetrichelvan and Bhaskar Selladorai are from Chennai.They have collected money from thousands of people, the police who are investigating the case said.