Noida Police book two for cheating investors at an event 'World Start-up Convention'
An event called ‘World Start-Up convention’ was held at the India Expo Centre & Mart in Knowledge Park, Greater Noida where the investors who claimed to pay huge entry fees complained that they were cheated as no investors and ministers were seen at the event
The Noida Police registered a case against the organisers of a three-day event for allegedly cheating start-ups.
The police stated that an event called ‘World Start-Up convention’ was held at the India Expo Centre & Mart in Knowledge Park, Greater Noida.
Around 14 entrepreneurs filed a complaint against two organisers identified as Luke Talwar and Arjun Chaudhary, accusing them of alleged fraud and breach of trust.
According to the police, the complainants complained stating that organisers had promised that there will be thousands of investors at the event, but when they reached the convention, there was barely anyone. They also ran a Twitter campaign, with the hashtag #JusticeForStartups, #WSCScam etc.
The complaints further stated in their complaint that there was a huge advertisement of the event where they claimed there will be around 9,000 angel investors and 1,500 institutional investors. The complainant claimed that the tickets to the event were sold from Rs 6,990 to Rs 25,000 under different categories.
The convention’s website, which has a tagline #AbFunding KiBaariHai, names several Union ministers, Chief Ministers and BJP leaders as “chief guests”.
The police have registered an FIR under IPC sections 420 (cheating) and 406 (criminal breach of trust) against the duo.