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  • 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 across the country with various products ranging from household goods to laptop computers. After receiving the information police raided company’s headquarter in Bhilwara.

    Police in action showed that the company was not registered with any government department. After getting notice of action from police the company’s director Trilokchand Chhabra, his son Saurabh, daughter Priyanka, brother Bagchand Chhabra and Kailash Chandra fled. All airports across the county have been notified, so that they cannot fee out of India.

    More than half a dozen employees of the company have been arrested by the police. Superintendent of police, Bhilwara, Umesh Chandra Dutta said that during the raids they found 9500 sacks of wheat and 2100 sacks of flour of Food Corporation of India, which were meant for below poverty line. RCM used to sell them by their label to their customer.

    The police suspect that it could have had not happened without the help of government officials. Police during the investigation found that company’s directors and families have found 40 accounts in 15 banks and now all the transaction has been banned. The company’s main server and Vehicles have also been seized.

  • Santa Banta takes on MLM

    If you know little bit of punjabi, you will enjoy this hilarious piece by Santa and Banta. On a lighter note, enjoyed. Forward it to your friends,  if you like it.

     

  • Why You Should Pay to Advertise for Your MLM Business

    There two ways of doing advertising, free and the paid one. One should start with free advertising over the internet to understand the value of advertising. Generally free adverting on MLM classified, social network websites delivers some results but lot of hard work is needed and it is also time consuming. Your focus should be on generation of leads and conversion on leads.

    MLMNewsBlog.com has created a paid advertising platform for people who are looking for instant results. Our website is visited by thousands of people everyday. The paid ads are easily noticed. Hence more exposure to your banner ad will generate more leads.

     

    Everyone need leads, if you are an MLM leader or an MLM company.

    If you are looking forward to paid advertising. Contact us and we will send you the quote. Lets help you.

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  • 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.

    The modus operandi of these schemes were similar, to spread the scheme by word of mouth and collect money and run away when new joining stops coming. All these companies are offering high returns on the investment, some were even giving 300% in one year.

    The directors of Goldsukh have fled the country and the CEO of Eve Miracle is in the custody of police. Rajasthan police is in touch with Interpol to locate the directors of Goldsukh, who are said to be in Thailand.

    After such MLM scams, the government of Rajasthan is preparing a draft on Multi-Level Business. For the same the chief minister Gehlot, asked the senior officials to look into the matter urgently.

    States like Manipur and Kerala have already introduced bill on Multi-Level Marketing companies in their respective states.

    Recently a meeting was held among SEBI, RBI and the ministry of corporate affairs to tackle issues more diligently.

  • 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. The need of regulation for MLM companies has become urgent after big scams like Speak Asia, Stock Guru India,  Gurudev Travel Connection, City Limousine , Kanakdhara Gold and  Pinnacle Education and Opportunity Ltd.

    Currently MLM does not fall under the regulation of any department or regulator which in return has helped ponzi schemes loot people.

    It is expected that soon either MLM regulation will be controlled by RBI or Securities and Exchange Board of India.

     

  • 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 than Rs.2300 with a period of 18 months and the current liability is around Rs.30,000 crore.

    Some panelist approached Supreme court, where final verdict is yet to come.

    Government agencies such as Enforcement Directorate (ED), the income-tax department and the Serious Frauds Investigation Office (SFIO) are independently investigating the fraud.

    “The SFIO report should be out in December. The ministry (MCA) feels the culprits will be nailed after that,” said a senior MCA official, who did not want to be identified.

  • President Bill Clinton endorses network Marketing (MLM)

    President Bill Clinton endorses Network Marketing (MLM). He explains how direct selling helps American economy. Our point is that many people see Network Marketing with suspicion, but if laws are made strong like in America, then direct selling could become quite huge. Watch the video where president Bill Clinton endorses network Marketing (MLM).

  • Robert Kiyosaki Talking about Rich Dad, Poor Dad

    Robert Kiyosaki is well known name in network marketing. He became famous after his best selling book” Rich Dad, Poor Dad”. Robert Kiyosaki talked about why rich are rich and poor are poor forever and how direct selling can help you in longer run.

    If you get more time, it’s my recommendation to you to read “Rich Dad, Poor Dad” Robert Kiyosaki. Watch this video, I’m sure you will enjoy.

  • Why do Most People Fail in MLM

    New Delhi – Do Most People Fail in MLM? Yes this is true. Some industry people say that only 5-7% people become successful in Network Marketing. Then what happens to rest.

    Watch this video.