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Beware of these MLM companies

Beware of these MLM companies
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Hemant Kumar Rout, TNN 5 August 2009, 10:47pm IST| BALASORE: The state Crime Branch on Wednesday claimed to have busted a multi-crore scam involving fake marketing companies and chit funds. Police said they have frozen bank accounts worth Rs 107 crore and arrested one person in this connection.SP (Crime Branch) Santosh Bala said sleuths from the department had arrested Saroj Kumar Samanta (30) from Akandi in Balasore district’s Singla police station area on Tuesday. “Samanta had been running a fake company, Dream Achiever, since April 14 by hosting a website www.dreamachiever.in . Though he was operating the company from Balasore, he had given a Delhi address,” the SP said. DSP (Crime Branch) Pramod Kumar Panda, who led the investigation, said Dream Achiever duped public by promising them to triple their money within a year. The trick had worked and around Rs 4.46 crore was deposited into the accounts of Dream Achiever within a short span of time. “The scheme came with offers for prospective investors , who were promised special discounts for introducing two other depositors,” Panda said. The Crime Branch investigation came in the wake of several complaints lodged with Balasore police by money losers. After a preliminary investigation, SP (Balasore) Rekha Lohani had handed the case over to Crime Branch. “As many as six cases have been registered in this connection. We are also inquiring into the involvement of banks in the racket without whose help such companies can’t flourish. Besides, efforts are on to nab the promoters of other such organizations,” the officer said. The Crime Branch has so far zeroed in on as many as seven such fake companies and chit fund organizations, which had been duping people by using accounts in reputed banks such as ICICI Bank, Axis Bank, IDBI Bank and SBI. Officers said a total amount of Rs 107 crore have been frozen in 11 accounts held in branches of the banks in several cities, including Bhubaneswar, Balasore, Kanpur, Delhi and Mumbai. “The companies whose accounts have been frozen include Trident Advertising & Trade Link Pvt Ltd, Fine Indisales Pvt Ltd, Eve Industries, Lakshya Level Marketing Pvt Ltd, Lui Brail Educational Society, Many Mantra Marketing Services Pvt Ltd and Dream Achiever,” Panda said. “Apart from these seven, many such companies are operating in and outside Orissa and the total money involved in the racket will be more than Rs 1,000 crore. Orissa’s share will not be less than Rs 150 crore,” he added. Recently, the Reserve Bank of India had warned all nationalized and private banks not to have accounts of as many as 10 such companies, including six that are already under the Crime Branch scanner. The other four are Alaska India, Superlife Linked Distributors, Star Consultancy Pvt Ltd and Seashore Funds Management Pvt Ltd. An RBI memorandum on July 11 had advised not to allow these 10 companies and organisations to open accounts with them. “These MMCs are opening accounts without complying with Know-Your-Customer (KYC) norms and Anti-Money Laundering (AML) Act. Innocent people are being trapped by fraudulent schemes launched by such unscrupulous persons and companies,” the memorandum read.

To Your Success in Business & Health in Life,

 Ak Sharma
Editor,

You can reach me at [email protected] or connect with me on Facebook

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22 Comments

  • te mane yatin desai na account ma paisa aapela . .je mari pase ugharani kare chhe. mafat no power lag aapelo tyare . kya gand maravto hato . reward lai ne juthhu bole chhe

    • chodu tara ketla paisa lai lidhga . tari ander  jo madam ni gand ma gushi gayo te . tari madam legal cmd chhe . white oxe mari company hoy to sabit kari aap . dolphinpay69 chalu 6e. ane tu cnbp chalu kari topi bani gayo

      • Bhosdina tari gand ma chhan nahi hatu to machodava company lidheli.Tyare to to chutiya kehto hato ke 1.5 crore kale company ma lavi daes. Chutiya 480 winga jamin nahi hati to macodava company na profile ma muki chodu banavto hato. amari majaburi che ke ame amara ane loko na paisa tamara jeva chitter ne karane fasaya che te no jawab aap. badhni vache te hath uncha karine haju tane saram nathi avti. Bhosdina aaje te mane ben no bhadvo kedoche to atyar sudhi 12 years to su hato? gandma zar bare to sahan karvanu sik nahito tara haju kharab divas aavse. 

        • hu legal director 09/04/2011 thi chhu , te pahelani jawab dari madam ni chhe , tare mari pase magvano koi adhikar nathi, , maro  company mathi chuto  thavano leter madam ni hath ma chhe. je jamin chhe . tena plot to tu j veche chhe ne , office ma bese chhe te ploting no map nathi joyo . tamri jem bombay jay company na paise tagad dhinna nathi karela

          • to director nahi hato to pachi tari machodava lokone tara photo ane sahi thi agreement lakhi aapela. bhosadina taru raji namu tu kem roc ma nathi apto haju sudhi?

        • tara commison na paisa to lai lidha , madam ni sathe aakho divas bese chhe to tane nathi khabar ke koni company chhe. chutiya banava tame nikdi padya  cnbp kholi.

        • TE RUPIYA DOLPHIN MA AAPELA . ANE DOLPHIN BANDH KARI TENA CMD AE CNBP KHOLI . TO CNBP MA JAI MANG. TU TO CNBP NO TOPI BANI GAYO TO TARA KEVA RUPIYA

      • mara 17 code na 117000 principal plus atyar sudhi nu return ,commisio,award reward badhu baki che . tu kyare chukve che te vat kar.tu company mathi chuto thayo hoi to taro reliving letter publish kar.

      • bhosdina tara chhan na podra amare saf karva pade che. loko na paisa chukvi pachi company chodai nahi ke addthe raste captain kudko mari bhagi jay ane kahe office avava petrol na paisa nathi.gan maravi ne pan loko napaisa chukava pade nahi ke gusso kari ne.

        • COMPANY KONI PASE CHHE . TE CHUKVE CHHE NE . TARI GAND MA SU KAM ZAR BARE CHHE . BOMBAY JAI JALSA KARVA NA BANDH THAI GAYA ATLE.

    • PAHELA SABIT KAR KE KONA RUPIYA PACHAVI PADYA . TAMARI JEM LUCHAI NATHI KARTA . MADAM NI GAND MA GUSI GAYA TE . GAND MARAVA CNBP KARE 6E

      • chutiya aakhu gam jane che te ketla rupiya ni ma phadi che loko ni . chit kari fari sahukar banva ni koshish nahi kar.

    • MADAM NI GAND MA GUSHI JAVA WALA  . DOLPHIN & SMARTMONEY MADM NI COMPANY HI ANE WHITEOXE MARI COMPANY HOI TO SABIT KARI AAP , MADAM NI GANDMA GUSI CNBP TU KARE TENI AD MUKU