Multi-Level Marketing: Con Quest
Thanks to supportive politicians and shirking regulators, MLMs continue to con millions with impunity
The con artists who scammed over Rs1,000 crore from gullible savers through Stockguru India were finally arrested on 14th November. Moneylife had warned about this scam in December 2010, well before the fraudsters absconded with investors’ money to evade the police for nearly two years by assuming different disguises and identities.
Immediately after, we received a flurry of questions about QNet, an international (Singapore registered) pyramid scheme that has been busy luring youngsters in dead-end jobs with the promise of extraordinary wealth. Moneylife first ...
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