MLM / CHAIN MONEY


Moneylife Digital Team 03 November 2014
After applying the stringent MPID Act in the QNet case, the EOW has arrested a top leader for conducting a training session for the MLM scheme. The Mumbai police has even asked Cafe Coffee Day-CCD to shut its doors to representatives of the controversial MLM operator and all its associate...

Read More



Who is behind this strange rush to legitimise MLMs?   At one end of the spectrum, we have lots of action against shady money collection schemes—whether in the guise of chit funds or recurring deposits. Subrata Roy of the Sahara Pariwar remains in jail since March. Pramatha Nath Manna,...

Read More



Moneylife Digital Team 14 October 2014
The Bangalore Police are investigating Adooye.com, which was selling a ‘package' that promised money for watching online advertisements and enrolling new members, in a classic money circulation scheme. The MLM, which reportedly collected over Rs600 crore has quietly shut shop and left over...

Read More



Moneylife Digital Team 07 October 2014
A 'serious' staff crunch at CBI is causing a problem in speeding up the probe against the multi-crore chit fund scam involving several politicians from West Bengal   The Special Crime Branch of Central Bureau of Investigation (CBI), which started probing the Saradha multi-crore...

Read More



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...

Read More



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...

Read More



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...

Read More



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....

Read More



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...

Read More



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...

Read More



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...

Read More



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)...

Read More



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...

Read More



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...

Read More



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...

Read More



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...

Read More



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...

Read More



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...

Read More



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...

Read More



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...

Read More

Free Helpline
Legal Credit
Feedback