It’s not the first time when lot of Indians will lose their hard-earned money. All MLM scams come in disguise but the modus-operandi has all been to loot gullible people. Infamous MLM companies like SpeakAsia, MMMIndia.in, Nmart, Gold Sukh, Fine India, All Hit Deals and lot more are not only looting people but they are also destroying the basic fabric of MLM in India.
The only difference is that at the end of these short-lived ponzi scams, all that is left are Speakasians, Mavrodians etc. Who hope to get justice someday from Indian courts but here judgement takes long due course of time. All they can do is to wait with a faith to get their money back someday.
It’s not their fault for being always super charged as Speakasians and Mavrodians. Without much knowledge about MLM business, even if they end-up making small fortune out of these short-lived ponzi schemes, they feel respected and elevated. And they have every right to feel so.
The real fault lies with governments , who are not passing strict and strong laws to protect her citizens against fraudulent ponzi MLM schemes in India.
Every time a big scam is unearthed, all we get to hear is that soon some strong mlm law is on the way to end this nonsense menace for all time.
After that few meeting are held among RBI, SEBI, MCA and Finance Ministry but nothing has materialised till date.
The need of time is to get strong MLM law in India and MLM people must join in to make this happen at the earliest.
Your views are most welcomed! Do share your view on this subject.