Jaipur: In recent two MLM Investment scams happened at Rajasthan, people have lost around 500 crore. Two MLM Investment companies Eve Miracle and Goldsukh have duped people of Rajasthan and Madhya Pradesh. Both companies were operating since 2008. The whole issue of fraud came into limelight when Goldsukh stopped issuing regular payments to the investors.
The modus operandi of these schemes were similar, to spread the scheme by word of mouth and collect money and run away when new joining stops coming. All these companies are offering high returns on the investment, some were even giving 300% in one year.
The directors of Goldsukh have fled the country and the CEO of Eve Miracle is in the custody of police. Rajasthan police is in touch with Interpol to locate the directors of Goldsukh, who are said to be in Thailand.
States like Manipur and Kerala have already introduced bill on Multi-Level Marketing companies in their respective states.
Recently a meeting was held among SEBI, RBI and the ministry of corporate affairs to tackle issues more diligently.