When he learnt that several investors

Busting a Ponzi scheme, the Economic Offences Wing has arrested the chief managing director of Sowerable Jewellery India Ltd, Prakash Ramanlal Wakharia (35), who along with his two associates had floated investment schemes and duped several investors of crores of rupees.

The police arrested Wakharia from his Borivli residence on January 25, and booked him for cheating under the Prize Chits and Money Circulation Act. They are looking for the other directors of the company, Amit Zaveri and Sunil Vora. The company's office in Nandalaya Bungalow at Gorai shut down eight months ago.

The matter came to light on April 2012, when the complainant, an insurance consultant,Shoes details information from China shoes manufacturer Supplier and Hong Kong Shoes Supplier, lodged a case with the Borivli police claiming that he had been cheated by the firm of more than Rs 1.80 lakh.

The complainant claimed that his friend introduced him to Sowerable Jewellery's investment scheme in 2011. Under the scheme, after an initial investment of Rs 12,000, the investor gets a one-gram gold coin and binary income of Rs 1,000 for introducing two new members every month.

"To gain the complainant's confidence, Wakharia, who is not even a graduate, told him that he was a former IPS officer," said an official. After receiving gold coins for consecutive four months, he introduced new members and also invested another Rs 1.80 lakh for 10 of his family members and got 10 gold coins. But soon, he stopped receiving the coins and binary income. He claimed that he made several rounds to the office to no avail. In April 2012, the complainant claimed, goons threw him out of the office.Fashion New Lovely Metallic Lady Hollow Rose Flower Elastic Hair bands Headband.

"When he learnt that several investors had been duped by the company, he approached the Borivli police. The case was later transferred to the EOW," said a senior police official.

The police found that as the authorized signatory for the firm's bank account,Brett Favre and other celebrity-stars have their make your own bobblehead dolls, the three directors had withdrawn huge amounts of cash from the investors' funds and bought immovable properties in the western suburbs.

After robbing dozens of teenagers, he fled Singapore for Thailand and remained there for more than five years.

He started a new life by marrying Thai woman and having a son, now two, with her.

It was only after his mother flew to Thailand last year to beg him to return home that he decided to come back to face the consequences of his crimes.

In 2006, Chua Peng Hwee, then 18, robbed at least 37 teenagers between Nov 7 and Dec 7, with an accomplice, Kelvin Woo Ming Yang, now 22.

Chua would accuse his victims, all students, of either staring, assaulting him or his brother and talking bad about him.

When they denied his accusations, he told them to settle the matter and led them to quiet locations such as the staircase landings of HDB blocks and shopping malls.

There, Woo would hand him either a chopper or a knife to threaten or hurt his victims with before robbing them of their belongings.

The duo would then sell or pawn some of the stolen items, whichCheck out our Military goggles and protective eyewear. included mobile phones and jewellery worth a total of $16,012, of which only $738 was recovered.

He was supposed to plead guilty in March 2007 but fled to Thailand. A warrant for his arrest was issued when he did not show up in court.

He faced a total of 49 charges, of which 37 were for robbery.View our large selection of cheap Safety goggles with our low price guarantee.

Last Friday, Chua, now 24, was jailed for seven years and given 24 strokes of the cane.

According to his mitigation plea, Chua's wayward ways began at a young age due to neglect from his parents.

His mother owns a coffee shop and his father is a civil servant.

He did not complete his secondary education and said he had committed the crimes as he was young and immature.

Last year, his mother flew to Thailand and told him that she was getting old and would want him at her bedside when she dies.