The company gave attractive advertisements in the newspapers and induced a large number of people to invest money in these schemes,' he said.

Explaining Sud's modus operandi, the officer said: 'His most lucrative scheme was Teak Tree Share scheme. Under the scheme, one unit of two teak trees was allotted to the investor on payment of Rs.1,250 and a receipt along with teak share certificate and teak warrant of 20 years schemes were issued to the investors.

'According to this scheme, after full growth of the teak tree in 20 years, one tree would be of the company and the other of the investor. He also used to run several fixed deposit schemes. However, when people started demanding their money back, he went underground after closing the office,' the officer added.