This time www.scratchindia.com scamed people in the name of Nano cars. scratchindia.com was run by Prime Advertising & Entertainment. There were giving Tata Nano, Indica Vista, Tata Manza and Tata Aria to people on first come first serve bases. Recently www.scratchindia.com got burst when the new joining rate hit the dead-end rode. Company started their […]
Kerala Police have arrested two persons in connection with a forex racket
Kerala Police have arrested two persons in connection with a forex racket which has duped over 60 investors of several crores of rupees, while, at the same time, employees in Chennai have escaped While the rupee has been grabbing headlines of late, what is little known or reported is that a multi-level marketing (MLM) company […]
Two More Arrested In Connection with MMM India Scam
Mumbai: Two more are arrested in connection with MMM India scam by Mumbai City economic offences wing (EOW). They were arrested on Tuesday from Goa for their alleged mastermind planning behind MMM India. The detained are Mikhail Glukhov (25) and Jennifer Menezes. “The couple was managing the publicity and coordination of the MMM India through internet. […]
The Federal Trade Commission Considering tightening the ground rules on pyramid schemes
The U.S Federal Trade Commission is thinking about tightening up the guideline on pyramid schemes. The FTC is under lot of pressure from the U.S lawmakers and consumer groups to investigate Herbalife, the $5 billion MLM company. The FTC has actually been reluctant to pursue Herbalife, due to the cost of going up against such […]
RBI Warning: Inspect before Depositing Cash with Financial Entities
The Reserve Bank of India has issued an advisory to the public recommending them to thoroughly evaluate their financial investment decisions, consisting of making deposit with NBFCs. The FAQs describe in detail the numerous kinds of monetary entities and the regulations regulating them. They also have detail where members of public can lodge complaints in […]
Kerala police Claims: Amway sells products at higher rates
In a recent investigation done by Kerala police, they came across facts that Amway is selling their products at a very high price, that basically includes individual care and Health care products through their direct selling method. Amway sells G & H Body Shampoo and G & H Lotion 250 ml with its ABOs (Amway Distributors) […]
MLM companies plans agitation against “police harassment”
Affirming police harassment, MLM companies like Amway on Tuesday said they are planning country- broad agitations if the Government fails to suppress their mistreatment within 45 days. The Forum for Direct Selling Companies & Consumers of India (FDCI) said planning agitations is the “only choice left for over 7 crore Indian distributors under given desperate […]
IDSA Demands for direct selling law; Global MLM CEOs to visit India
In order to promote a separate legislation for the direct selling market in India, top global executives of such mlm companies would be visiting India later on this year. “The CEO council of World Federation of Direct Selling Associations (WFDSA) would be involving India for the first time. “This is to go over road map […]
RBI And SEBI To Play Vital Role Against MLM Companies
New Delhi: A high-level panel is working on a way to control Saradha-like illegal investment schemes. The plan will be presented to the government in coming 15 days. “The roadmap consists of an active role of an existing regulatory body to play a pro-vital role to prevent unethical aspects taking the gullible public for a ride,” […]
Vizag investors defrauded by Sri Chakra Gold Farms and Villas India Limited
Visakhapatnam: Cheating public has become a common practise at Vizag. This time Sri Chakra Gold Farms and Villas India Limited rips off public virtually 50 crores in the name of property and farm estates business. The management of Sri Chakra Gold Farms and Villas (India) Limited fooled its investors of ’50 crore. Organisers of the business are […]