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Yash Birla, today came in for interrogation at The Economic Offences Wing of The Mumbai Police for not paying back investors their money which his company Birla Power Solutions took after floating a fixed deposit and inter corporate deposit scheme.
Birla floated this scheme offering investors a very high rate of interest and then has not paid them the principal amount as well. Towards the end of last year 28 investors came forward and filed an FIR against him as they lost roughly around Rs 20 crore after investing in the scheme which was floated by Birla Power Solutions.
Over 8,000 investors are said to have invested in this scheme and the money involved in this scam is Rs 214 crore.
