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500 CR Webwork Scam: Shah Rukh, Nawazuddin Under CBI Scanner

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The FIR registered against the Webwork on Tuesday by the CBI does not mention Shah Rukh or Nawazuddin as either accused or suspects. The CBI has taken over the probe into the Rs 500 cr online cash-for-click scam. The online ponzi scam, to be investigated by the CBI, was being run from UP’s Ghaziabad district […]

OneCoin – Ponzi Scheme investigation in India

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Key Highlights:  Onecoin investigation in India by the EOW Four bank account uncovered  with ₹19 crores and  ₹5 crore approximately The Government of Hungary is investigating OneCoin, a cryptocurrency investment scheme as a fraudulent Ponzi Scheme. German Regulators have also ordered OneCoin to ‘Dismantle their Trading System‘ The Economics Offence Wing investigates OneCoin in India […]

Network Marketing Companies seek protection under Consumer Protection Act

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Network Marketing and Direct Selling companies in India are facing a lot of problems while operating in the Country. The current provision of criminal proceedings in the case of discrepancies is hampering the growth of these companies in India. Hence these Direct selling companies have urged the Indian Government to extend protection under the Consumer […]

All you need to know about the Legal Status of bitcoin in India

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The recent incident where the major Indian newspapers have misrepresented the issue of the legality of bitcoin in India has sparked an urge to call for the Indian government to clearly state its position on the legitimacy of bitcoin. Status of Bitcoin’s legality in India Last week, an Indian News Media incorrectly reported that the […]

SC Grants Bail to Ferreira and Stays 19 Qnet FIRs

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Key highlights: Stay on 19 Qnet FIRs by the Supreme Court Micheal Ferreira and Malckolm Noser Desai granted bail Supreme Court stay order brings a relief to Qnet The decision of the Supreme Court brings a relief to Qnet as the Supreme Court passed a stay order in all the 19 FIRs against the direct […]

ED Attaches Assets Worth Rs 35 cr of Two MLM Companies

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The Enforcement Directorate (ED) has attached assets worth over Rs 35.84 crore of two MLM companies running Ponzi schemes in Chennai and Odisha, an official said. The move was part of the ED’s crackdown against private companies running Ponzi schemes in different states. The economic law enforcement agency took the step under the Prevention of […]

Webwork Trade Links: Fraud worth Rs 500 crore

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An FIR has been registered against a Noida-based company for allegedly duping people of Rs 500 crore, police said on Monday. In a similar case, the Uttar Pradesh Police’s Special Task force had on February 2 busted an online trading scam worth over Rs 3,700 crore by Noida-based Ablaze Info Solutions Private Limited in which […]

John Oliver calls MLM industry a ‘pyramid scheme’

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The Last Week Tonight with John Oliver on the HBO channel aired an episode on November 06,2016 demonstrating how direct selling or MLM companies use unethical practices to make money. John Oliver mocking the  MLM industry  said that they generally have two things in common- “first, you don’t see them on store shelves, you buy […]

Kerala police to tighten laws on MLM Firms

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The police has decided to enforce strictly the guidelines issued by the state government imposing strict restrictions on mlm and direct selling entities. Apart from making registration mandatory for them, the guidelines issued in 2015 September imposes a ban on money chain model activities and giving incentives for canvassing persons as direct selling agents. But […]