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– Photo: Social Media
Expansion
The day of February 2, 2016 proved to be the day which turned many youths of the city into paupers by showing them dreams of changing their lives. On the same day, Pincon, a fake chit fund company, put up posters of big money by becoming an agent at major intersections of the city. Three numbers were given for contact and then there was a crowd of unemployed youth.
The fraudsters opened an office in AD Tower on Bank Road in the city. Here the youth were selected as agents after the interview. 152 youths wearing tie-belt felt that now their life is about to change. But, little did he know that he was about to become a link in one of the biggest frauds in the history of Gorakhpur.
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Thousands of people who dreamed of a better future continued to join the Pinecon Group, which defrauded 1600 crores. As many as 152 youths associated with the company as agents got involved in getting people to invest in their respective areas by telling them about seven ventures like Redeemable Preference Share, Non Convertible Debenture, ASK Financial Debenture, Greenech Foot Product, Bengal Pinecone Housing Infra. The investor was told that he would get higher and quicker interest from the bank on the money invested.
Dharmendra Tripathi and Santosh Kumar Pandey, who became agents under the guise of the company, say that the chit fund company had also issued its registration number to assure them. The agents were told that Pinecon Group is affiliated with RBI Mumbai. Whose registration number is INB 031488431 and INR 000000353. After this, a fake website of the company was also created and released, seeing which the youth got trapped and the money of the customers got drowned.
