Due to the lack of legal framework in India for mlm companies, lots of ponzi schemes have looted gullible people in India. Still some of them have disguised with different names and business plans from time to time.

Here is the list of some of those the scam companies.

SPEAKASIA SCAM:

The massive fraud made by the Singapore based marketing company Speakasia online limited encouraged a huge population of investors to enroll in a quick rich scheme and collected Rs 2,200 crore from 2 lakh people. (more…)