Three more arrested in software company scam

Bombay News.Net
Sunday 11th May, 2008 (IANS)

Three more people have been arrests here for their involvement in an alleged Rs.800 million ($20 million) fraud by a software firm Vispro following the complaint of a former student, the Tanmil Nadu poluice announced Sunday.

According to the police, the company promised jobs to more than 1,000 candidates who paid between Rs.35,000 and Rs.200,000 each for training in software skills and eventually getting employment. But emoployees claimed Vispro had not even paid salaries to them for the past three months.

A senior official of the firm was arrested Saturday.

However, Vispro lawyers denied the charges. The complainants decamped with computer hardware, furniture and other assets of the company in lieu of wages and recovery of fees. Following this, the firm suffered irredeemable losses, they told the police.

One of the suspects, Kiran Aggarwal, a 32-year-old female graduate from Assam, claimed that she was actually a victim of the fraud.

According to Aggarwal, she had supplied Rs.4 million worth equipment for which she was not paid by Vispro.

The company was using a name similar to famous commercial entities, distributing glossy brochures with an upmarket address and cheating gullible students, a police official said.

While Vispro rhymes with a leading blue-chip IT company, the firm floated by Aggarwal - Insys - too followed the same pattern. The company's premises have been sealed, police officials added.

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