Mumbai: Over 15,000 investors cheated in the name of god

Mangalore Today/ CNN/IBN

Mumbai, Nov 23: Another Stock Guru-like scam has been unearthed which exploited the devout. Around 15,000 investors from the Christian community were duped in an investment scheme that promised a tour to Israel for six days, investment for a divine tower, schools and hospitals for the poor.

 

The scheme was a perfect narrative to lure investors in the name of religion. Many from the Christian community like Clement D’Souza fell for the VCare scheme, putting their entire retirement money, only to receive nothing in return. "I invested more than Rs 18 lakh of my retirement money into this scheme," he told CNN-IBN.

While the company has been sealed by the Thane Police’s Economic Offences Wing, the investors have already lost their money. Officials say the scam is to the tune of over Rs 34 crore. The promoter, Sunil Saldanha, has been chargesheeted and the case is up for hearing in courts.