Madurai: The exact amount of money lost by investors who had fallen for a scheme by city based Paramount Marketing Corportion was yet to be ascertained and could run into crores of Rupees, officials said.

Complaints received so far indicated that people had been cheated of at least Rs 10 crore, they said.

The company had advised investors to invest just Rs 1,000 and earn a lifetime income in multiples in a short time.

Economic Offences Wing police said people from many parts of southern districts had invested amounts ranging from Rs one lakh to Rs 10 lakh in the corporation, which offered them attractive returns for their investment.

The EoW advised those who had invested in the Corporation and been cheated to give complaints to them.

DSP Gopalsamy said many who had been cheated had already filed complaints with police. Details on the action taken on their complaints was available with the EOW, he said.

(Agencies)

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