Kerala Billion Bees Scam: A major financial fraud has come to light in Kerala, following closely on the heels of the scooter scam. This time, the accused are three brothers from Irinjalakuda in Thrissur district, who allegedly swindled Rs 150 crore under the banner of a company called Billion Bees. The police have registered cases against the owners, identified as Bibin K Babu, Libin, and Subin.
How the Billion Bees Scam Began
Billion Bees was set up in 2019 by the three brothers. They attracted people with a promise of substantial monthly returns. For every investment of Rs 10 lakh, investors were assured an income of Rs 30,000 to 50,000 per month. Initially, this promise seemed genuine because investors did receive money regularly for a few months. Encouraged by these results, more people started pouring their savings into the scheme. Some investors even sold land or used their retirement funds to invest in Billion Bees.
Kerala Billion Bees Scam: Sudden Halt to Returns
Trouble arose when the monthly payouts unexpectedly stopped. Soon after, news spread that the owners had fled the country with their families. It is believed that the three brothers now reside in Dubai. As panic set in, several victims realized they had likely been cheated. One person who lost Rs 1.95 crore was among the first to file a complaint, prompting the Irinjalakuda police to register an official case.
Police Action and Complaints
So far, the police have registered four cases based on various complaints. Over 32 people have officially reported their losses. Investigators are now attempting to trace the suspects, who are suspected to be in Dubai. In a recently surfaced audio message, one of the accused brothers, Subin, can be heard discussing “black money” and mentioning that funds could be delivered within a week if handled discreetly.
Kerala Billion Bees Scam: Luxury Lifestyle and Rapid Expansion
Sources say that the three brothers led a lavish lifestyle, possibly financed by the funds they collected from investors. After Billion Bees gained momentum, they opened an office in Dubai and attracted even more investors. Their meteoric rise and subsequent disappearance have left many victims in a state of shock.
Kerala Billion Bees Scam: Protecting Yourself from Investment Scams
Financial experts urge the public to verify all investment opportunities thoroughly and check for proper licenses. It is essential to seek professional advice when an offer seems too good to be true. As investigations continue, more details are expected to emerge about how the brothers managed to orchestrate this large-scale fraud and escape with such a significant amount of money.
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