Overview
- The Economic Offences Wing said it has received multiple complaints alleging the app promised unusually high returns and duped users.
- Authorities stated the platform, listed on the Google Play Store, is not registered with the RBI, SEBI or any other regulatory body.
- Citizens were urged to avoid unregulated investment apps and to verify platforms through official regulator portals before committing funds.
- Victims were asked to contact the EOW or email details to srpieiu.eowmum@mahapolice.gov.in to file complaints.
- EOW officials referenced a registered case in Telangana tied to a similar Costa-branded scheme, with news reports earlier this year describing alleged losses of about Rs 15 crore in Jangaon and Warangal.