19 duped of Rs. 4 crore on pretext of share market investment in Visakhapatnam

VISAKHAPATNAM: As many as 19 people were duped of Rs. 4 crore by a share market company named Choice Stock on the pretext of high returns in Visakhapatnam.

According to police, accused Rahul Singh, the MD of Choice Stock company, developed acquaintance with many people through Business Network International (BNI) organisation and collected around Rs. 4 crores from 19 people as investment assuring them of providing high returns.

However, after collecting the investments, Singh delayed the promised payments, raising suspicions among the victims. The victims who tried to contact Rahul found that the latter had fled Visakhapatnam along with his family.

The victims upon realising they were cheated filed complaints with the police against Rahul Singh.