Navniit Khhosla was the first person to file complaint against Speak Asia. Now after getting over R6 lakh, he has withdrawn complaint against Speak Asia. Navniit Khhosla, the very first individual to register a First Information Report (FIR) against Speak Asia a year ago has withdrawn his complaint. The particular withdrawal followed right after Khhosla […]
Speak Asia Ready to Pay but only Rs.50 Crore
SpeakAsia responded to the Supreme Court that it will return invested money only to 115 petitioners and the total amount is of Rs.50 crore. The city police opposed the proceed, they stated in that respect there were many more who had invested in Speak Asia and the total invested amount of money is actually much […]
Amway under ED scanner for money laundering
New Delhi: The well-known MLM company, Amway India Enterprises (AIE) is now undergoing Enforcement Directorate (ED) scanner for pushing multi-level marketing (MLM) by registering individuals as members by giving all of them rewarding earnings on expensive goods. With respect to a article printed on Daily Mail, The ED’s Hyderabad unit has authorized an economic crime […]
Collective MLM Investment schemes under SEBI lens
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.