Hyderabad: A 4.5 times higher return on deposits in 90 days lures people across the country to operate through a website www.ciciseo.com in the ‘Shared Bike (BK)’ or) Sharing Economy. Cyberabad Police Commissioner VC Sajjanar said that fraudsters shared information about the scheme through various WhatsApp groups across the country.
“The schemes offered easy funding which attracted many people to come forward and participate in the schemes. People initially invested Rs 300 and Rs 3,000 for returns of Rs 1,350 and Rs 13,500 within 90 days. When they started getting credit in his bank accounts,they was encouraged to invest more than Rs 30,000, ”Sajjanar said, adding that then they got relatives and friends to invest as well, making investments in the scam. There was a huge increase in the amount of money gone.
All shared their personal and bank details through a link ciciseo.com from and became a member. The payment was made through the Razorpay payment gateway. Depositors will pay by clicking the link received on their phone number. This will be reflected in their mobile app as a virtual balance.
Sajjanar said.
“After depositing large amount of money, the app was discontinued in January 2021. Investigation revealed that the money paid by the depositors was registered through various Chinese websites with banks of Indian companies registered with Resporte. The accounts were credited, ”Sajjanar said.
The Cyberabad Police, in coordination with RBI, ROC and other related agencies, will try to find out more about Chinese directors and also include Indian companies and their directors in various China-based firms, payments receipts and fraud related to the app’s investment.
He said that people can alert the police about such schemes on Dial-100 or committing economic offenses on WhatsApp through Cyberabad Control Room on 9493625553 or 9490617444.
