MLM News

NetworkingEye.com: MLM News, MLM News in Hindi, MLM business, MLM Companies, Scam Companies

  • Home
  • हिन्दी MLM News
  • Scam Companies
  • Guest Post
  • Submit An Article
  • Submit Press Release
  • Advertise
  • Contact
NMart properties attached by Andhra Pradesh CID

NMart properties attached by Andhra Pradesh CID

By Ak Sharma | Published on 4:23 PM

Rate this News

#AndharaPradesh #CID #CorporateFraudsWatch #CrimeInvestigationDepartment #KolliRaghuramReddy #GopalSinghShekhawat

In a fresh move, Surat based mlm company NMart’s properties got attached by the Andhara Pradesh CID. In total, fixed deposits of 2,61 crore and properties worth of Rs. 9.27 crore were attached in the process by the AP, Crime Investigation Department.

It may be recalled that following a complaint lodged by Vijayawada-based Corporate Frauds Watch, the then superintendent of police of Prakasam District Dr Kolli Raghuram Reddy registered a criminal case against the NMart for indulging in illegal money circulation scheme offering huge returns in a short span of time.

The police have also frozen the accounts of NMart at that time. The chairman of NMart, Gopal Singh Shekhawat, was arrested and thrown behind bars. The Prakasam police have also identified the immovable properties belonging to Gopal Shekhawat in Surat and other places after freezing the bank accounts in various banks throughout the country.

The NMart has mobilised deposits from people of various districts in the then undivided State of Andhra Pradesh and all over the country too. After enrolling members into the scheme by collecting Rs. 5,500 per member, the NMart also induced them to enrol more members into the scheme with an incentive of Rs. 200 per member. Subsequently, the case was transferred to the CID for further investigation.

The CID officials attached the properties which would be subsequently auctioned and deposited with the government.

Source: thehansindia 

  • Tweet
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • More
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print
  • Click to share on Telegram (Opens in new window) Telegram

Related

Filed Under: MLM News [jetpack_subscription_form title="SUBSCRIBE TO Networking Eye - MLM News " subscribe_text="Sign up for our newsletter and receive news, updates, and the latest alerts." subscribe_button="Sign Me Up" ]

Leave a ReplyCancel reply

LATEST NEWS

  • Top 5 Fastest Growing MLM Companies in India 2023: Vestige, Amway, Herbalife, Forever Living, and Modicare
  • Navigating the Maze of MLMs in the Beauty Industry: What You Must Know
  • In Hyderabad, scammers involved in Multi-Level Marketing schemes are specifically targeting women and job seekers
  • Elfin E-com’s Absconding Executive, Involved in Multi-Crore Fraud, Apprehended
  • QZ Asset Management Executes Full Exit Scam; Website Unreachable

TRENDING TODAY

  • Speak Asia: Abhishek Kulshrestha,Tabrez Ansari & Saeed Mazgaonkar Arrested
    Speak Asia: Abhishek Kulshrestha,Tabrez Ansari & Saeed Mazgaonkar Arrested
  • Top 5 Fastest Growing MLM Companies in India 2023: Vestige, Amway, Herbalife, Forever Living, and Modicare
    Top 5 Fastest Growing MLM Companies in India 2023: Vestige, Amway, Herbalife, Forever Living, and Modicare
  • No more freeze on Amway offices : Kozhikode Court
    No more freeze on Amway offices : Kozhikode Court
  • The Indian Direct Selling Association - IDSA
    The Indian Direct Selling Association - IDSA
  • Top MLM Companies of Network Marketing in India
    Top MLM Companies of Network Marketing in India
  • All You need To Know About Vestige
    All You need To Know About Vestige
  • Amway India manufacturing plant to be operational by 2015
    Amway India manufacturing plant to be operational by 2015
  • Indian Cyber Crime Toll-free Number to Report Online Frauds
    Indian Cyber Crime Toll-free Number to Report Online Frauds
  • Gautam Bali: The Successful CEO Behind Vestige Marketing Private Limited's Growth
    Gautam Bali: The Successful CEO Behind Vestige Marketing Private Limited's Growth
  • Enforcement Directorate freezes 36 bank accounts with over Rs 90 crore in inspections at direct selling firms Qnet in Mumbai, Bengaluru, and Chennai
    Enforcement Directorate freezes 36 bank accounts with over Rs 90 crore in inspections at direct selling firms Qnet in Mumbai, Bengaluru, and Chennai

COMMENTS

  • Navigating the Maze of MLMs in the Beauty Industry: What You Must Know » MLM News on Things to Know Before Investing In MLM
  • Navigating the Maze of MLMs in the Beauty Industry: What You Must Know » MLM News on Direct Selling sector as a retailing medium in India is yet to gain momentum
  • Navigating the Maze of MLMs in the Beauty Industry: What You Must Know » MLM News on Decriminalization of MLM: its Importance and Issues
  • QZ Asset Management Executes Full Exit Scam; Website Unreachable » MLM News on Beware of these MLM companies
  • Rajan Menon on CID taking Interpol help on Speak Asia Alleged Scam

Copyright © 2014–2025 · NetworkingEye.com

About Us · Privacy Policy · Cocky Policy · Terms & Conditions