Imphal, October 15 2010: Apprehensive of facing huge financial losses, a large number of people, who have enlisted themselves under a network marketing scheme where one has to invest money and recruit people, stormed the house of a person who reportedly introduced the scheme in Manipur.

The suspicions of the enlistees was triggered after the website of China based networking business company, Jainex International Trade, www.

jitmarket.com could not be accessed since yesterday on the net.

Hundreds of enlistees who have joined the scheme stormed the house of Huidrom Nandakumar of Khagempalli today morning on the alleged charge that he was the one who introduced the scheme in Manipur.

Nandakumar is an Executive Engineer in Manipur Development Society.

It is said that the scheme has been in operation in Manipur since September 21 last only.

Timely arrival of the Imphal West District Police team, who whisked away Nandakumar, managed to prevent the situation from getting out of control.

The police team had a difficult time in bringing the angry mob under control.

Claiming itself to be among major financial companies of China with high management profile, Jainex International Trade has its offices in India at Bangalore and offers three policies, namely JIT Basic Funding, JIT Power Plus Funding and JIT Super Power Funding.

Under JIT Basic Funding, Rs 1000 is charged from new recruits as clients account opening fees with the promise that if he/she invest a minimum of Rs 6000 or a maximum of Rs 12,000 to earn a daily profit of 3 to 6 percent of the invested amount besides other business opportunities.

Under the second policy of JIT Power Plus Funding, the company charged Rs 1000 as client account opening fees and promised that an investment of Rs 15000 to 30,000 will yield a daily profit of 5 to 10 pc of the investment besides other business opportunities.

Similarly, under the third plan of JIT Super Power Funding, Rs 1000 is charged at the time of opening the account with the promise that an investment of Rs 50,000 to 1,00,000 would earn a profit of 10 to 15 percent of the invested amount daily.

Hoping that they would reap the benefits and become money bags, around 2000 people have joined these policies and already invested around Rs 20 to 30 crores during the last 52 days of introducing these schemes in the State.

All the invested amount had been reportedly handed over to Nandakumar in cash.

The validity of each client account is for 365 days.

So, the percentage of the invested amount for 52 days is supposed to be accrued.

Interestingly, the policy holders have been receiving e-mails to inform and showing that the money has been transacted into their respective accounts on the website of the company.

But they have been restricted from encashing the amount on the ground that it should complete 15 days for withdrawal.

Some of the policy holders informed that they were told by Nandakumar that contact with Bangalore office of the company is established through phone or e-mail with one KN Singh or Rajiv but he had never seen them in person.

The mobile phones of KN Singh and Rajiv have also reportedly remain switched off.

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