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
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
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
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
#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
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
#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
#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 […]
Adooye.com Scam Could be of 600 crore, cheated 2 lakh investors
Adooye.com scam was reported by NetworkingEye.com in the month of June. Now the Bangalore police is investigating Adooye.com, when people ,who invested with Adooye stopped receiving commission from the company. The scam could be of 600 crore and at least 2 lakh investors have invested in Adooye.com from all over India. Online company, Adooye.com collected money from […]
EOW Special Investigative Team to Probe QNet Case
To give pace to the alleged 425 crore Qnet scam, the Economic Offences Wing (EOW) of Mumbai Police has set up a Special Investigation Team. The EOW is additionally checking out strict lawful options, which will make it mandatory for the suspects concealing abroad to show up before investigators in Mumbai, authorities claimed.
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