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RBI And SEBI To Play Vital Role Against MLM Companies

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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

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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 […]

Top MLM Companies of Network Marketing in India

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Currently at least 10000 Companies of MLM are operating in India. Their business revenues is more than 3500 Crores fiscal year 2009-2010, based on the Indian Direct Selling Association, IDSA. IDSA is an association put together by some top MLM companies in India relating to the core concerns associated towards this business and future consumers within the industry. IDSA […]

No more freeze on Amway offices : Kozhikode Court

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AMWAY India who is dealing with a case in Kerala, where lot of outlets closed, got a relief on Friday when the Kozhikode district court gave orders to unseal its warehouses and offices in Ernakulam, Thrissur, Kozhikode and Kannur. The relief came when AMWAY gave a bank warranty of Rs 1 crore. The chief judicial […]

Sify CEO Kamal Nath Receives Warrant In Amway Fraud Case

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The Economic Offences Wing of the Kozhikode Crime Branch has charged Kamal Nath, CEO of Sify Technologies, as an accused in the Amway multilevel marketing fraud case for continuing to provide its services to Amway in spite of receiving a warning letter from the Crime Branch three months ago, reports New Indian Express. The report also states that […]

Sachin Pilot Minister of Corporate Affairs Spoke on Amway Issue

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Corporate Affairs Priest Sachin Pilot today pointed out the government will remove as early as possible ambiguities in legislations focussed on tackling deceptive financial investment systems. Pilot’s remarks come in the background of global direct selling firm Amway’s India Chairman William S Pinckney and 2 business Directors being jailed by the Kerala police over allegations […]

MMM India: Alexei Muratov, Dinesh Kotian and Four Other Arrested

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GUWAHATI:  Alexei Muratov, Danis Rosaov and Andre Kilyn along with Dinesh Kotian, Rimish Balan and Nabajit Das, a local agent were arrested in Guwahati by the local police in connection with MMM India Fraud. Local police of Guwahati booked them under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and sections 120 (B), 406, […]

Liberty Reserve founder arrested in Spain and Website is shut down

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Liberty Reserve closed and shut down on Friday by U.S. prosecutors. The investigator charged the operators of Liberty Reserve with money laundering & helping running an unlicensed money transmitting business. Liberty Reserve laundered over $6 billion till date from criminal activities, right from credit-card fraud, identity theft, child pornography and narcotics trafficking. 

Amway’s India Chairman & CEO Along with Managing Director Arrested

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Amway’s India Chairman and CEO William S. Pinckney (right), Managing Director of Amway India, Anshu Budhraja were arrested on Monday by the The Crime Branch-Crime Investigation Department (Economic Offences Wing) along with two supervisors of the Amway company on their alleged role in facilitating  financial abnormalities. Though a local court on Tuesday granted conditional bail […]