City Limousine Investment Scheme

There are many Ponzi Schemes in India Also. It is not that only Bernard Maddof was running a Giant Ponzi scheme in which the money from new investors was given to the old investors as a profit. One Such scheme in India is “City Limousine Investment Scheme”.

City Limouzine, promoted by Sayed Masood, had offered investors a return of 48% on their investments and said it would be invested in buying Maruti cars, which were to be registered in the name of investors. In September 2007, the EOW (Economic Offense Wings) registered a case of cheating.

The company issued newspaper advertisements offering investors 40% more than the investment on maturity or vehicles . For instance, on a deposit of Rs 5 lakh for six months, the company offered Rs 1.25 lakh per month. On a down payment of Rs 8.1 lakh, the company offered Rs 40,500 every month for five years beside a Skoda vehicle at the end of the maturity period.

Mritunjaya Pande of Car Run Way opened an office at Crystal Plaza, Andheri, in December 2006 and got the firm registered. He opened offices in Bhandup, Vashi and Nashik. The directors of the company included Mritunjaya's brother Rakesh, father Premnarayan and Devang Zaveri.

It is very surprising that, in the modern economy, people believe in these types of schemes and unbelievable Guaranteed returns. While the Stock Market, Real Estate & Businesses are trading at all time low levels, people tend to attract towards these types of ponzi schemes which offer unbelievably high returns.

So How to Protect yourself from these types if Investment Schemes -

Well, the Key to protect you from these types of Investment Schemes is - “Be Honest – Because if its not impossible than it is next to impossible to cheat the Honest person.”

So if someone offers you such a high return than beware & remember the fact that, such unbelievably high returns simply not possible.

If someone offers you Rs.1.25 Lakh per month return on Rs.5 Lakh of deposit only than these types of returns simply doesn’t exist.

So Control your GREED & Stay away from these types of Schemes.