MLM News

MLM scam: One more held at AHMEDABAD

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AHMEDABAD: Bapunagar police made the third arrest in the multi-level marketing scam where four brothers and their relatives duped people of over Rs 20 crore.

According to city police, Alpesh Vasoya, one of the brothers, was arrested from CTM crossroads on Monday afternoon. “He had come from Vadodara in a bus and was looking for a transport when a team nabbed him. As per his confession, he had fled to Mumbai and was constantly changing location to evade arrest,” police said.

R D Lashkari, inspector of Bapunagar, told TOI that Alpesh is a financial wizard who handled the money of the enterprise. “We are now trying to get the details of the accounts. Earlier, we had nabbed Rakesh and Hitesh Vasoya in the case. The brothers were wanted in a multi-level marketing scam of 2008 where hundreds were duped by the gang,” he said.

Officials said that the Vasoya brothers had started Sai Mitra Mandal in Bapunagar. They had floated a scheme where every member would get prizes ranging from phones to cars every month with a fixed amount deposited every month.

 

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