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Enforcement Directorate freezes 36 bank accounts with over Rs 90 crore in inspections at direct selling firms Qnet in Mumbai, Bengaluru, and Chennai

By Ak Sharma | Published on 26/02/2023

Enforcement Directorate freezes 36 bank accounts with over Rs 90 crore

The Directorate of Enforcement (ED) conducted searches at various locations in Mumbai, Bengaluru, and Chennai on Wednesday in relation to a money laundering case involving M/s Vihaan Direct Selling India Private Limited, which is the master franchisee company of M/s Qnet Ltd in India. During the searches, the ED froze a total of 36 bank […]

Ranga Reddy: Multi-level marketing fraudsters loot 15 lakh from woman

By Ak Sharma | Published on 11/08/2020

Cyberabad police on Wednesday cautioned that the Multi-Level Marketing (MLM) fraudsters back in the market with new modus operandi.Owing to the easy trap methods into Multi-level marketing frauds, the fraudsters have always returned to trap vulnerable people. The most important fact about this fraud system is the new techniques adopted by the fraudsters to get […]

500 CR Webwork Scam: Shah Rukh, Nawazuddin Under CBI Scanner

By Ak Sharma | Published on 03/07/2017

Rs 500 CR Webwork Trade Links Scam Shah Rukh Khan Nawazuddin Siddiqui Under CBI Scanner

The FIR registered against the Webwork on Tuesday by the CBI does not mention Shah Rukh or Nawazuddin as either accused or suspects. The CBI has taken over the probe into the Rs 500 cr online cash-for-click scam. The online ponzi scam, to be investigated by the CBI, was being run from UP’s Ghaziabad district […]

Webwork Trade Links: Fraud worth Rs 500 crore

By Ak Sharma | Published on 17/02/2017

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 […]

Government holds the bill to check the ponzi scheme

By Ak Sharma | Published on 05/12/2019

The government has put on hold the review of the ponzi scheme bill,which was suppose to bring about more clarity to distinguish between a genuine MLM company and ponzi money circulating companies. A week after the arrest of Amway India chief executive Bill Pinckney, the Indian Direct Selling Association has sought amendments to the Prize […]

Enforcement Directorate Attaches Moonlife Teamworks India’s Properties

By Ak Sharma | Published on 24/05/2015

ED Attaches Moonlife Teamworks India's Properties

On friday properties worth of Rs.4.12 crores of Moonlife Teamworks India Private Limited got attached by Enforcement Directorate department at Hyderabad. The properties belonged to Moonlife Teamworks India Private Limited, its managing director P. Narayanachary and Sri Chandra Farms and Resorts India Limited in a MLM fraud case. The ED officials, in a press release, stated […]

Alert issued against ponzi mlm schemes by Reserve Bank Of India

By Ak Sharma | Published on 18/08/2015

Alert issued against ponzi mlm schemes by Reserve Bank Of India

#RBI #MLMScam #PonziScheme Lots of fly by night ponzi mlm schemes have duped millions of investors in India. On Thursday Reserve Bank of India notified investors against MLM companies that promise high returns and run on hefty member subscription fees. Any break in the chain leads to the collapse of the pyramid, and the members lower down […]

QNet seeking court intervention to challenge the ban

By Anil kumar Sharma | Published on 15/04/2015

QNet seeking court intervention to challenge the ban

QNet franchise moves court against ban #QNet #CafeCoffeeDay #VihaanDirectSelling #MLMScam Almost 2 months after the Mumbai authorities ordered cafe Cafe Coffee Day (CCD) to close doors to representatives of Hong Kong-based MLM  company QNet. Now one of its franchises has actually challenged the restriction in the Karnataka high court. Vihaan Direct Selling (India) Pvt Ltd […]

NMart dupes Bhadrak investors of Rs 20 cr

By Anil kumar Sharma | Published on 08/06/2015

N Mart dupes Bhadrak investors of Rs 20 cr

#NMART #MLMScam #MLMNews #CBI Even as the CBI investigation into 44 chit fund companies in Odisha is on, a fresh case of NMart, another company duping gullible investors has come to light. While the operations of N Mart Marketing Company are spread over several districts, it is reported to have swindled over Rs 20 crore […]

New Zealand national, three associates arrested in fraud case

By Anil kumar Sharma | Published on 05/12/2014

New Zealand national, three associates arrested in fraud case

#MLMNews #NetworkMmarketingFraud #MohammedKhurram #KiranModi #HiteshModi The Central Crime Branch (CCB) sleuths busted a network marketing fraud with the arrest of four persons including a 52-year-old woman from New Zealand for allegedly duping people on the pretext of offering them memberships in a networking company. Based on a tip-off, a team of sleuths approached the company executives […]

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