MLM News

RCM Fraud of 2000 crore

Written by Ak Sharma

Country’s famous Multilevel Marketing Company RCM has come into limelight, all for the wrong reasons, a fraud of about two thousand crore has been reported. The company has nearly 10 million customers across the country. The establishment of RCM started from Bhilwara in Rajasthan in 2000.  MD of RCM, Trilokchand Chhabra introduced the company over three thousand outlets across the country with various products ranging from household goods to laptop computers. After receiving the information police raided company’s headquarter in Bhilwara.

Police in action showed that the company was not registered with any government department. After getting notice of action from police the company’s director Trilokchand Chhabra, his son Saurabh, daughter Priyanka, brother Bagchand Chhabra and Kailash Chandra fled. All airports across the county have been notified, so that they cannot fee out of India.

More than half a dozen employees of the company have been arrested by the police. Superintendent of police, Bhilwara, Umesh Chandra Dutta said that during the raids they found 9500 sacks of wheat and 2100 sacks of flour of Food Corporation of India, which were meant for below poverty line. RCM used to sell them by their label to their customer.

The police suspect that it could have had not happened without the help of government officials. Police during the investigation found that company’s directors and families have found 40 accounts in 15 banks and now all the transaction has been banned. The company’s main server and Vehicles have also been seized.

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1 Comment

  • ATCR – ARYARUP TOURISM & CLUB RESORTS PVT. LTD. CMD Ravindra Deshmukh is still absconding what is the status of this scam more than Rs.3000 crores of Indian public he has looted now that case is handled by CID of Mumbai we expect faster disbursement of its attached property & bank balances to its genuine investors who has invested life time savings & also loans taken to invest in this co. by mortgaging fixed assets.  Can we expect our court to pass order for disbursement to its investors when we are alive.  its nearly 2 years 2010 & 2011 we suffered a lot expect to get justice in the beginning of 2012 at last wishing & praying for its key personnel to enlighten their mind & help get our lost money at the earliest.