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
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
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
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’
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
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 […]
All You Need To Know About Coinomia
Coinomia Review – Is it Real or Scam Coinomia – Bitcoin & Ethereum Mining Opportunity! A cryptocurrency, just like the normal currency, is a medium of exchange. It is a digital currency. Encryption techniques are used to secure the transaction and the creation of new coins. In simple words, solving mathematical problems based on cryptography creates […]
How to make money online in India
All of us know one or more friend who is making money online. This makes us think that it is easy to make money online. Also, some of us have tried our hand to make money online but have been trapped in on the online scam and have failed. This is often because we don’t […]
Government issues model guidelines for states to curb Ponzi schemes
The government of India on Monday has issued a series of guidelines for states to regulate the direct selling sector. This implies that the Rs. 10,000 Cr industry could come under the strict Consumer Protection Act, 1986. Many steps have been taken in an attempt to safeguard the interest of individuals involved in this industry. […]
Tester gets drunk, leaks secrets of new network marketing app MlmUP
In August, a sales representative at a software testing company leaked client data intended for internal use only by posting screenshots of the app MlmUP to the Internet. In June 2016, a sales representative at a New York-based software testing company received an order to test the mobile application MlmUP, which is designed to manage […]