» Subscribe to Newsletter
» Switch to BizTech2.com
Home » News » Mobile Phones » Rs. 250 Million Lost in SMS Fraud
Rs. 250 Million Lost in SMS Fraud
By: Sharon Khare   |   Dec 15, 2006
SMS and earn money. Sounds like a con job to you? It didn't to 50,000 people looking to make a quick buck — allowing the now absconding fraudsters, to get away with nearly Rs. 250 Million.

An ad in some Mumbai dailies kick-started this SMS fraud by brothers Jayanand Nadar, 36, and Jayaraja Nadar, 28. 'Nothing is impossible. The word itself is I M Possible', read the ad. According to the police the duo then messaged random numbers, asking people interested in 'earning Rs. 10,000 a month to contact them' thus promising investors they could 'get rich quickly'.

"In September 2006, the duo floated a company - SMS Media Pvt Ltd - and registered it. Attractive promos were inserted in some newspapers and magazines to lure investors,' said police inspector Ajendra Thakur. The duo claimed to be working with a US-based company — Aropis Advertising Company — that wanted to market products through SMS. Their modus operandi involved asking interested 'subscribers' for Rs. 500 or Rs. 650.

'The brothers even put up a website (www.getpaid4sms.com) to promote their scheme. People who registered with them received about 10 SMSs everyday about various products and were promised a handsome commission if they managed to rope in more people by forwarding the messages,' Thakur said.

The Nadars promised to pay Rs. 10,000 over 16 months to the investors. The amount was to be paid in installments of Rs. 1,000 every few months. The brothers initially paid up small amounts; but when their cheques for larger sums were not honoured, and the text messages stopped the 'subscribers' got worried.

On Nov 30, one duped person approached the D.N. Road police and lodged a complaint. By Dec 12, 10 other complainants turned up.

"We have already recorded the statements of 11 people. We suspect that the fraud amount may be as high as Rs. 300 million. The case will be transferred to the economic offenses wing soon," Thakur added.
Tags:
 
Ads by Google 
Post a Comment on “Rs. 250 Million Lost in SMS Fraud”
Comment : 
Name : 
City : 
Email : 
now jayanand nadar is not arrested by any police & crime & his mobile is on till date he recieve every call.
sanjay @ Feb 27, 2007
THE GUYS ARE INTELLIGENT AND BRAVE AND MORE IMPORTANTLY THEY IMPLEMENTED THEIR IDEAS. HATTS OFF TO THEM.
EQUALLY PEOPLE WHO GO FOR EASY BUCKS SHOULD LEARN FROM THIS SAGA.
VASUDEV . V @ Dec 22, 2006
Ads by Google 
Ads by Google
Products
Camcorders  |   Controllers  |   CPUs  |   Desktop PCs  |   Digital Cameras  |   Digital Video Recorders  |   DVD Players  |   Games  |   Gaming Consoles  |   General  |   GPS Systems  |   Handhelds / PDAs  |   Hard Drives  |   Headphones & Headsets  |   HiFi Audio Systems  |   Home Theater Systems  |   Input Devices  |   Internet  |   Laptops  |   lenovo  |   Low Level Components  |   Mac Systems  |   Mobile Phone Accessories  |   Mobile Phones  |   Monitors  |   Motherboards  |   MP3 / Audio Players  |   Multi-Function Devices  |   Networking  |   Optical Drives  |   PC Accessories  |   PC Add-on Cards  |   PC Cabinets  |   PC Games  |   Printers  |   Projectors  |   RAM Modules  |   Scanners  |   Software  |   Speakers  |   Telecom  |   TVs  |   Video Players  |  
Careers | About Us | Ad Inventory | Site Profile | Feedback | Copyright © 2007, Tech2.com India - A Network 18 India Venture