CHITRAL: Several online platforms have reportedly defrauded residents of Chitral of millions of rupees, leaving many in financial distress.
Local residents alleged that Sinotrans, GE Healthcare, Siemens Energy, Komatsu, EasyAgent Operation, and First Solar swindled them into investing in their programs and defrauded them.
Among these, Sinotrans stood out as the most prominent, presenting itself as a China-based business entity and a subsidiary of Sinotrans International. Launched in October this year, Sinotrans positioned itself as a highly profitable online investment and network marketing platform, luring participants with promises of substantial returns.
The platform operated by requiring participants to create an account and join as “investors.” Members were incentivized to expand the network by inviting others through personalized links. Investors could deposit varying amounts via EasyPaisa, with promises of receiving daily profits on their investments along with additional bonuses for expanding the network.
While profits and bonuses accrued daily, withdrawals were limited to a once-a-week schedule, with the funds transferred directly to participants’ EasyPaisa accounts through an automated system.
Initially, many individuals benefited from the scheme and, enticed by the prospect of earning more, reinvested larger sums. However, this allure of quick profits ultimately led them to fall victim to the fraudulent online operation.
Sinotrans presented itself as a Chinese company with a diverse business portfolio, which helped it gain credibility. Locally, the scheme was bolstered by political connections.
A well-furnished office was established in Drosh town, inaugurated by the notables and the President of the Drosh Trade Union. This official endorsement attracted even more participants.
However, within two months, the platform ceased operations, leaving participants unable to withdraw their funds or access any information. The closure has devastated numerous families, who are now lamenting the loss of their investments.
Sinotrans and the other online platforms reportedly exploited Chitral’s vulnerable population, taking millions of rupees from them before disappearing without a trace.
Authorities have been urged by the affected persons to investigate and hold those behind these fraudulent schemes accountable.
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