Key Highlights: Onecoin investigation in India by the EOW Four bank account uncovered with ₹19 crores and ₹5 crore approximately The Government of Hungary is investigating OneCoin, a cryptocurrency investment scheme as a fraudulent Ponzi Scheme. German Regulators have also ordered OneCoin to ‘Dismantle their Trading System‘ The Economics Offence Wing investigates OneCoin in 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 […]
Recent development on Speak Asia has given a mixed response to its panelist. The Ministry of Corporate Affairs today said it could not investigate alleged irregularities in multi-level marketing company Speak Asia as the company is not registered with it. Same was communicated to journalist by Reserve Bank of India. “Speak Asia is not registered […]
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.
Hemant Kumar Rout, TNN 5 August 2009, 10:47pm IST| BALASORE: The state Crime Branch on Wednesday claimed to have busted a multi-crore scam involving fake marketing companies and chit funds. Police said they have frozen bank accounts worth Rs 107 crore and arrested one person in this connection.SP (Crime Branch) Santosh Bala said sleuths from the […]
RBI Website Mumbai: The operations of shady multi-level marketing (MLM) companies — which operate what are popularly known as pyramid or ponzi schemes — have come under the regulatory scanner with shady MLM companies mushrooming across the country and duping investors. Many firms posing as MLM agencies for consumer goods and services have been actually […]