This is the press release from Reserve Bank Of India, in this press release RBI has warned people who are involved in Overseas and domestic Forex Trading. RBI has stated that under Foreign Exchange Management Act, FEMA, 1999 do not permit residents of India to trade in foreign exchange in domestic/overseas markets.
Police bust MLM racket in Bangladesh
Police bust MLM racket The Jakarta Post | Wed, 03/30/2011 9:53 AM | Balikpapan Police in East Kalimantan have arrested a woman for fraud after she allegedly tricked members of the public into investing money in a multilevel marketing (MLM) business, promising huge profits. The get-rich-quick scheme left at least 47 Balikpapan residents of pocket […]
Beware! Shady chit funds strike in new guise
Saibal Sen, TNN, Apr 5, 2011, 03.16am IST KOLKATA: Illegal chit funds, a scourge in West Bengal, are back in a sneaky new disguise. Multi-level marketing firms are now luring unsuspecting depositors with promises of mammoth returns in the form of “products”. The booty, according to central and state authorities, runs into crores. What’s worse, […]
Speak Asia given court notice at Gorakhpur, Uttar Pradesh
Gorakhpur: Online Survey Company Speak Asia online has sought delay from city magistrate on Thursday. City magistrates on Thursday arrived in the office of Regional Manager Anurag Corporation to meet him. Meanwhile, City Magistrate has served them with another notice with ten points and instructed to give their answer by Friday.
How to avoid scam in MLM
Know you company in Network marketing (MLM) Banking sector in India has initiated ‘KNOW YOU COUSTOMER FIRST’, why can’t we do the same in Multi-Level Marketing (MLM). I have come across many networkers who are interested only in companies, who are doing ethical business, for some it does not really matters; they are interested only […]
How to keep you safe from MLM scams
Some consider that there are legitimate Network marketing companies which have good MLM business plans that last for long and along with them every year we see scammers in MLM come up with tailored made plans to cheat people. It has not been long, few years ago; someone came up with non-working or growth plan. […]
Bangladesh MLM alliance calls for regulation of MLM
Due to a combination of government policy, the time required for a thorough investigation to be carried out and the inevitable appeals process, it’s all too well known that there’s often a large disconnect of time between the establishment of an MLM company, and a regulatory body investigating it. At the heart of a scam […]
MLM scam: One more held at AHMEDABAD
AHMEDABAD: Bapunagar police made the third arrest in the multi-level marketing scam where four brothers and their relatives duped people of over Rs 20 crore. According to city police, Alpesh Vasoya, one of the brothers, was arrested from CTM crossroads on Monday afternoon. “He had come from Vadodara in a bus and was looking for a […]
Man held for Rs 100 cr fraud in Delhi
JAIPUR: A man accused of duping people of nearly Rs 100 crore through his multi-level marketing company was arrested by the Jalupura police on Friday. On the basis of mobile surveillance, a team nabbed him in New Delhi. According to deputy commissioner of police (north) Ashok Naruka, the accused Jitendra Saithwal is a resident of New […]
Is it possible to grow 1 Lakh into 5 Lakh in 12 months?
Published: Wednesday, Feb 16, 2011, 15:25 IST By Himansh Dhomse | Place: Ahmedabad | Agency: DNA Remember the 2008 US recession that left the world in an unprecedented financial crisis? At the root of it were several Ponzi schemes that eventually went phut and plagued the US economy impacting global economy.It seems that even Ahmedabad […]