MLM / CHAIN MONEY


Moneylife Digital Team 23 September 2014
Mohanty was arrested from his Cuttack residence in connection with a land deal he had done with AT group chief Pradip Sethy   The CBI (Central Bureau of Investigation) arrested former Advocate General Ashok Mohanty in connection with the chit fund scam case and took him on two day...

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Moneylife Digital Team 15 September 2014
The EOW had arrested Susan Chatterjee, former daughter-in-law of Michael Ferreira in the Rs425 crore QNet scam. While Ferreira owns 80% stake in QNet's official franchisee in India, his son, wife and close relatives are also reportedly under the scanner   With the arrest of Susan...

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Moneylife Digital Team 15 September 2014
According to SFIO, the Saradha group companies will face prosecution for violation of several laws   The Serious Fraud Investigation Office (SFIO), which completed its probe into the Saradha ‘chit fund scam’, said that its 14 group companies have been found to be running ‘ponzi...

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Moneylife Digital Team 02 September 2014
A CBI inquiry has revealed links between IRCTC and Saradha Group during the time when Mamata Banerjee was the Railway Minister   West Bengal Chief Minister Mamata Banerjee's name has now allegedly got dragged into the multi-crore Saradha chit fund scam, says a report by Zee News....

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Moneylife Digital Team 28 August 2014
CBI is raiding the premises of former Assam minister and legislator Hemant B Sharma   The Central Bureau of Investigation (CBI) is searching seven locations in Kolkata, 12 in Guwahati, two in Dhubri, Assam and one in Mumbai in relation to the multi-crore Saradha scam, an official...

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Moneylife Digital Team 07 August 2014
Have QNet team leaders misled the Mumbai Sessions Court by submitting a fake document along with their bail application? The Economic Offences Wing has made this sensational disclosure. The police official, whose signature is on the document has also denied having prepared or signed...

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Moneylife Digital Team 22 July 2014
An open letter from MLM expert Robert L FitzPatrick of Pyramid Scheme Alert to the US FTC exposes illegality of multi-level marketing (MLM) schemes and how law enforcement agencies can curb it. The same applies for India where thousands of pyramid or network marketing schemes are duping...

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Chain marketing schemes are still having a nice time, despite SEBI’s enhanced powers    The Direct Selling Association of India and the high-profile, multinational multi-level marketing (MLM) companies have stepped up the pressure on the National Democratic Alliance (NDA)...

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Moneylife Digital Team 17 July 2014
Within four years, Nashik-based KBC Multi Trade was able to collect crores of rupees. Its promoters and directors are absconding and three agents are already dead. The question is, why nobody, including SEBI took action in time? Even as several network marketing companies or multi-level...

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Moneylife Digital Team 27 May 2014
Based on a case filed in Kurnool, the Andhra Pradesh police took the CEO of Amway India into custody from the company headquarters at Gurgaon     William Scott Pinckney, chairman and chief executive (CEO) of Amway India has been again arrested by police. This time, he is arrested...

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Moneylife Digital Team 23 May 2014
CERT-In, the Indian cyber security sleuths, have blocked many portals related with QNet, including QNetIndia.in and QNet.net used by the MLM operator for all of its transactions   The Computer Emergency Response Team India (CERT-In) has blocked several websites of QNet, the...

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Moneylife Digital Team 23 April 2014
Kolkata-based Pailan Group has been raising money through its agents who promise high guaranteed returns on various investment schemes. Some are finding it difficult to get their money back. Is SEBI aware of it? Despite the scandal over Saradha and other schemes, the Pailan Group of...

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Moneylife Digital Team 12 April 2014
After being named as accused in the Rs425 crore QNet scam, Vanmala shifted its office to undisclosed location. However, the EOW raided this secret hideout and seized important documents about the MLM operations of QNet Economic Offences Wing (EOW) of Mumbai Police has raided a little...

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Moneylife Digital Team 20 February 2014
Pushpam Appalanaidu, MD of QuestNet India was arrested at Chennai International Airport following a look out notice from the Andhra Pradesh CID. Appalanaidu, a Malaysian, faces 21 criminal cases of cheating for duping investors for Rs160 crore Immigration authorities at the Chennai...

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Moneylife Digital Team 12 February 2014
The HC refused to defreeze bank accounts of Transview Enterprises owned by Suresh Thimiri, who is often touted as QNet India's CEO but had denied any relations with the MLM operator   The Bombay High Court on Wednesday rejected interim application filed by Suresh Thimiri, who is often...

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Moneylife Digital Team 06 February 2014
After facing probe by the EOW of Mumbai police, QNet, its founder and associates will now face the ED sleuths in the Rs425 crore MLM scam Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has registered a case in the...

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Moneylife Digital Team 27 January 2014
For weeks, Ferreira had avoided appearing before Mumbai police in the Rs425 crore QNet scam, until the Session Court asked him to present himself before the EOW. Ferreira is also booked by Mumbai police for allegedly forging documents to sell a plot of land at Gorai in Malad Former world...

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Moneylife Digital Team 22 January 2014
The Court in Mumbai asked former world Billiards champion Michael Ferreira to return to India, surrender his passport and appear before the EOW, which is probing the Rs425 crore QNet scam A Session Court in Mumbai on Wednesday has directed former world Billiards champion Michael Ferreira...

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Moneylife Digital Team 07 January 2014
After former world billiards champion Michael Ferreira, Boman Irani is the second celebrity against whom a complaint has been filed in the Rs425 crore QNet scam The Economic Offences Wing (EOW) of the Mumbai Police has received a complaint against Bollywood actor Boman Irani and his son...

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Moneylife Digital Team 02 January 2014
Mumbai Police have issued lookout notice against 10 people including QNet founder Vijay Eswaran and former billiards champion Michael Ferreira in the Rs425 crore QNet scam case The economic offences wing (EOW) of Mumbai police has issued lookout notices against 10 people including...

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