The Securities and Exchange Board of India (Sebi) has sought an entire overhaul of the present regulations with regard to collective investment schemes, because it worries that loopholes within existing guidelines make it possible for for gullible investors taken for a ride. A number of these businesses used these loopholes to mop up funds from […]
Tulip Global owners absconding
Jaipur based Tulip Global reportedly has duped over 30 lakhs investors on promise of providing high returns. Here is the report
Now Submit Your MLM Complaint
Now file your MLM complaint online. Due to the loop holes in the law every day gullible people are getting cheated by fraud network marketing companies all over India. These frauds are done in various ways, like by offering monthly high returns in cash, gold, surveys but when these network marketing companies vanish out of […]
RCM Fraud of 2000 crore
Country’s famous Multilevel Marketing Company RCM has come into limelight, all for the wrong reasons, a fraud of about two thousand crore has been reported. The company has nearly 10 million customers across the country. The establishment of RCM started from Bhilwara in Rajasthan in 2000. MD of RCM, Trilokchand Chhabra introduced the company over three thousand outlets […]
Rajasthan rocked with recent MLM frauds
Jaipur: In recent two MLM Investment scams happened at Rajasthan, people have lost around 500 crore. Two MLM Investment companies Eve Miracle and Goldsukh have duped people of Rajasthan and Madhya Pradesh. Both companies were operating since 2008. The whole issue of fraud came into limelight when Goldsukh stopped issuing regular payments to the investors. […]
Sebi wants to take Control over MLM Companies
New Delhi: In recent time many multi-level marketing companies have mushroomed all over India and few have even duped gullible people with millions of rupees. Recently in a Sebi board meeting where the ministry of corporate affairs and finance, and the Reserve Bank of India (RBI) participated. During the meeting, they discussed how they should monitor such MLM ponzi schemes. […]
ED finally charges Speak Asia with money-laundering
ED finally charges Speak Asia with money-laundering. Enforcement Directorate (ED) has booked Speak Asia under the Prevention of Money Laundering Act (PMLA) for allegedly sending Rs 900 crore out of the country, disguised as remittances. ED will soon investigate the involvement of office-bearers. There was no response from Speak Asia.
Biggest MLM Scam In India Till Date
If reports of Economic Offence Wing of Mumbai are to be believed this MLM scam could be the biggest MLM scam in the history of network marketing in India. Economic Offence Wing of Mumbai in the recent statement said that Speak Asia fraud is of Rs.2300-2400 crore and the value of the reward points is around Rs30000 crore. Speak Asia collected more […]
Speak Asia CEO Manoj Kumar at Abu Dhabi Video Message
Abu Dhabi (11 Oct.) – CEO Mr Manoj Kumar was spotted in Abu Dhabi on 11 of October to attend a conference on Global Agenda 2011. During the conversation, he talked that they have received permission from Bangladesh government to operate there. Soon in the month of december they are going to start their work in Bangladesh. […]
Speak Asia advisor confessed that business plan was a Ponzi scheme
Mumbai : Speak Asia Financial advisor, Sanjeev Dandona confessed that Speak Asia was indeed running a ponzi Scheme. and the plan was based on a ponzi scheme. Sanjeev Dandona was financial advisor to Speak Asia and he was the main man behind the transfer of money from India to Singapore.