India Internet News
Biz International Company Caught For Cyberspace Scam
09 July 2011
The head of Biz International, a company dealing into Internet service, has been caught on suspicion of attracting people to participate in a cyberspace service, that police think is connected to a pyramid scheme, on false information, police said.
Shigeo Ishihara, 49, is supposed to have cheated two people in February and March 2009 to participate the Internet virtual world by lying to them that major companies are taking part and that users can deal in real estate business.
The company collected approximately 9.1 billion yen from about 25,000 members between June 2007 and May 2009 by selling a set of business materials that consists of a DVD of the virtual world, according to the police who suspect the business to be a massive scam.
The police even issued new arrest warrants for the head of a Tokyo-based investment company and two other people for allegedly swindling about 5. 75 million yen out of 7 members of Biz International from December 2008 to January 2009 in the name of investment in a relative business.
Makoto Miyanouchi, 53, and two other executives of his company MIT were arrested on June 14 in suspicion of requesting investment without necessary registration in 2009 in relation to the scheme.