The Vellore-based company, IFS, gave 8% returns on investing 1 lakh rupees in its deposits. The company is closed from a few weeks now. There is still an investigation into the scam that took place earlier this month. An amount of more than 6000 Crore rupees were invested in IFS. A lot of government officials and other middle-class people had put their money into the company .
As per the recent update, the owners of IFS are residing in Dubai, United Arab Emirates. And all the partners have got a residencial visa from UAE. Four new company resgistration done under each of their names. Check out the below details of each of their companies.
Laksmi Narayanan Sundaram is a partner of Habsburg Project development Consultant LLC
Mohanbabu Vijayan is a partner in Concise Project Development consultant LLC.
Vedhanarayanan Sundaram’s company is Daeiou Project Development Consultant LLC.
Janarthanan Sundaram’s company is Fibonacci Project Development Consultancy LLC.
IFS is one of the biggest scams in India. Besides which the partners have started their new firms and living in Dubai. Investors are waiting for their money and returns.