In yet another case of investment fraud hundreds of people lost their money.Investors have come up against the jewellery group Avatar Gold and Diamonds for swindling money.The group failed to return the money they had invested
in schemes offered by it. The police are yet to arrest the jewllery's Managing Partner U Abdulla despite a case was registered against him at Kalamassery police station on June 8,this year for cheating and criminal breach of trust.
As per the FIR Abdulla has been booked under section 406 and 420 of IPC. The group reportedly owe huge sums to Kerala some Kerala based banks.
All the shops of the group were inaugurated by the above gentle man (photograph is that of the inaugural ceremony of one of its shops) who lavishly endorsed the group.Beware of the products and services being endorsed by these stars who are either partners of their business or do it to satiate their greed.
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