MLM News

Blog

  • Moneylife Foundation sends representation to PM, FM and RBI urging ban on MLM schemes

    Moneylife Foundation urges the PM and others to completely ban MLM companies in India or bring these companies under the regulation of either RBI or SEBI.

    From past few years we have seen MLM scams at a regular interval, the scamster comes in disguise with get rich quick schemes. Kanakdhara, GoldQuest, StockGuru India and many such companies have swindled crores of rupees out of India. It’s not only loss of people’s money but legal hassles people face after company’s exit. Things have reached to a situation where we need a body to regulate Network Marketing in India. Such a body should study the business concept and products offered by the MLM company before they could enter into the market. This given article covered by Moneylife foundation, they have covered many issues related to Multi-level Marketing in the past. Let us know if you agree or disagree with the view-point of Moneylife. (more…)

  • The Battle among Speak Asia, Media and the Panelist!

    Speak Asia’s press conference, raised many questions. Even company’s loyal panelist were not aware of many things like Speak Asia online is not a company but a panel service provider, the money they have paid to the company is for the subscription of e-magazine published by Speak Asia not investment. Many panelist are saying that they never heard of such e-magazine and no one ever told them during the business presentation that they are paying Rs.11000 for the e-magazine. Speak Asia tried to explain business model from their point of view, which is different from what panelist have explained in the business presentations. (more…)

  • Bank accounts of Speak India have been frozen

    Moneylife investigation revealed how Speak Asia was transferring money from India to Singapore, now banks have frozen speak Asia’s bank account due to the foreign exchange violation. (more…)

  • Speak Asia Online Press Conference News update

    In the press conference, Speak Asia did not give any clear answers to the journalist present there. Instead they were putting allegation on Star Panel, which everyone knows that it is free to join, where speaking Asia is charging money to become a panelist. During the Goa Gen X Bazar conference company had said that Airtel, Nestle, Bata, Tata, ICICI bank, ING Vysya are their clients have been proven wrong. Now they say it was a miscommunication. The conference  did not clear the doubts among the panelist. (more…)

  • Aaj Tak Exposes Speak Asia Scam

    One after another, news channels are exposing Speak Asia scam. Some people in Speak Asia were saying that Star News had personal agenda in covering negative news about Speak Asia. Now Aaj Tak has covered a news where they have completely exposed Speak Asia’s claim. Aaj Tak, during the investigation also came to know that Airtel never got any survey done by Speak Asia. In future many media hoses will be covering issues related to Speak Asia Scam. The people who joined Speak Asia are very tense. Some have even invested in lakhs. Despite such news, Speak Asia is not giving answers to their panelist. The situation has become very volatile. Goa government has already initiated a probe on Speak Asia Online. Some panelist are even complaining that they have not got any money after doing survey from past 10 days. (more…)

  • Speak Asia in trouble after Star News Coverage

    MLMNewsBlog Editor

    Have you ever played the game of falling down dominoes or a card game, where we make a pyramid. A slightest blow can destroy your game. If you plan to play it, be careful. Speak Asia, one of the most promising MLM company has been severely hit by the recent Star News Coverage. If you have seen Star News Coverage carefully, you will know that Star News has actually highlighted few things, like why the rate of dollar set at Rs.50 which goes against Foreign Exchange Management Act.( FEMA ) as per RBI regulation, ICICI Bank, Ing Vysy, Bata all are saying they are not associated with Speak Asia in any way. There are many other questions which are not answered properly by Speak Asia. (more…)

  • Star News – Speak Asia Online News report, Legitimate or a Scam?

    Star News – Speak Asia Online News report, Legitimate or a Scam.

     

    In India we cannot call a concept a scam unless it happens and when a scam happens, no body is there to help. From past two months, most media organizations have covered news reports on Speak Asia Online and most say that it is going to be the next MLM scam, to name few, UniPay2, Stock Guru India, etc,
    (more…)

  • Reserve Bank of India (RBI) is contemplating action against Speak Asia Online

    Cheaters in paradise: True lies of SpeakAsia’s Goa bash May 11, 2011 06:12 PM |

    The progress of this MLM company reminds one of the Home Trade scam, where the company used mega celebrities like Sachin Tendulkar and Shah Rukh Khan to gain publicity, before duping several people, including the stars

    Many agents of SpeakAsia, the self-proclaimed ‘biggest online survey company’, have posted comments all over the Internet about the company’s ‘Gen X Bazaar’ event being held in Goa from May 9 to 11 and the special train that was booked to take participants for the programme. (more…)

  • Things to know before making money from online surveys firms

    May 09, 2011 11:34 PM |MLM News Blog Editor

    Things to know before making money from online surveys firms.

    By now someone must have shared that how easily one can make online income by just taking few online surveys, which pays you around Rs.900 a week. There is just one simple requirement to become panelists of these online survey companies and that is joining amount, which varies from company to company, minimum of Rs.3500 to Rs.11000. More money can be made by making other join under you. Not too long many investors lost money is investment plans. Some gullible people were promised that their hard-earned money was being invested into stock market, mutual funds, real estate, high return investment plans. Once the saturation comes in the business, they flew from the market. Rest everyone knows what happens. (more…)

  • 33 Chit Fund companies sealed at Gwalior – Madhya Pradesh(M.P)

    May 8, 2011 01:42 AM,

    33 Chit Fund companies sealed at Gwalior – Madhya Pradesh(M.P). Administration and police in the city, with a combined team on Monday did raid over two dozen of corporate offices of Chit Fund Companies and seized a large number of records. The records related to the business of these companies have been asked to present in two days. (more…)