MLM / CHAIN MONEY


The Supreme Court on Monday asked West Bengal's police chief to sit with the CBI director to determine the police personnel required by the investigating agency for continuing with its investigation into Saradha and non-Saradha chit fund scam cases.   A bench of Justice T.S.Thakur and...

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Cezary Podkul (ProPublica)  and   Allan Sloan (The Washington Post) 13 July 2015
Bankers and new accounting rules are emboldening governments to borrow-and-bet their way out of pension problems, a strategy that’s backfired in the past   This story was co-published with the Washington Post.   If there were ever a time not to bet the moon on the stock and...

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A US court has sentenced the former Indian American head of a Chicago investment firm to six years in prison for stealing more than $9 million in a ponzi scheme, a media report said Tuesday.   "I'm a rotten individual for what I did to (investors). I'm a rotten individual for what I...

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The Central Bureau of Investigation (CBI) on Tuesday conducted simultaneous searches at 12 places in Odisha in connection with a chit-fund scam.   CBI sources said searches were conducted at residences of some officials of inter-state chit fund company Swastic India, and offices of...

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Moneylife Digital Team 06 July 2015
While the QNET funded the glitzy IIFA awards, the money belonged to the victims of the MLM scam, alleges a complaint to the EOW of Mumbai Police   The Economic Offences Wing (EOW) of the Mumbai police has started a probe into alleged deal between Wizcraft International...

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Trinamool Congress Rajya Sabha member Ahmed Hassan Imran was on Friday again grilled by the CBI about his alleged financial transactions with the tainted Saradha group, an agency official said.   Imran is the editor of "Kalom", a vernacular daily that was owned by the Saradha Group...

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Bonnie Patten (TruthInAdvertising.org) 15 June 2015
Deconstructing Herbalife's defense that a survey found most people join for discounts   In the recent Bostick v. Herbalife class-action case, which settled in California federal court in May, Herbalife’s primary defense as to why it isn’t a pyramid scheme was a static 2013 survey...

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The Central Bureau of Investigation (CBI), which is probing the multi-crore rupee Saradha scam, has sent a notice to the Kolkata Municipal Corporation (KMC) seeking details about the licenses it issued to the tainted group.   Addressed to KMC's chief manager (licensing), the notice...

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The CBI, probing the multi-crore-rupee chit fund scam in Odisha, on Thursday raided six locations of Jana Mangala Agro Care in the state, an official said.   "In the Odisha chit fund scam, searches were conducted by the CBI today (Thursday) against Jana Mangala Agro Care. All...

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The Karnataka government would allow Enforcement Directorate (ED) to investigate the lottery scam if it had an inter-state fallout, Home Minister K.J. George said Monday.   "We are ready to hand over the lottery scam to the ED for further investigation if it (scam) had spread to other...

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Mitra's lawyers sought the minister's bail citing medical reasons   A city court on Monday turned down the bail plea of West Bengal Transport Minister Madan Mitra, arrested in the multi-crore rupee Saradha chit fund scam.   City sessions judge Kallol Das rejected Mitra's bail...

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A close aide of ponzi scam tainted Saradha group chief Sudipta Sen, was arrested by the Central Bureau of Investigation from the bustling Sealdah station here on Tuesday, an agency official said.   Arindam Das, alias Bumba, was alleged to be mentoring the "illegal" operations of the...

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The court in Cuttack asked the concerned officials of the state government to confiscate and sell the seized properties of the chit fund company   A court in Odisha on Monday directed the state government to sell the attached properties of chit fund firm Safex Infra India through...

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Odisha's crime branch (CB) team on Sunday arrested the managing director of Vista Management Services Ltd. in connection with a multi-crore-rupee chit fund scam in the state.   The Economic Offences Wing (EOW) of the crime branch arrested Deb Kumar Panda, managing director of the chit...

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The Central Bureau of Investigation on Friday conducted searches in 26 different locations across India of the Silicon Group of Companies which is allegedly running chit fund operations.   The Kolkata-based group is one of the 44 chit fund companies being probed by the CBI following...

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TruthInAdvertising.org 12 May 2015
Former distributor says a class-action settlement isn't going to help a majority of recruits who lost money   Eric Rodensky was working hard driving trucks for a company that distributes candy and groceries to convenience stores, but the long hours weren’t yielding enough pay to make...

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The CBI on Thursday raided seven locations in West Bengal and Odisha of the Mangaldeep Land Promoters Ltd. for raising public money through illegal schemes, while a court rejected the bail plea of state minister Madan Mitra who was arrested for his alleged complicity in the multi-crore-rupee...

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The court of Chief Judicial Magistrate, Baripada, in Mayurbhanj district convicted India Info Star and India Info Line's regional manager Diptikant Behera, branch manager Gagan Patra, Subhendu Sekhar for cheating depositors, public prosecutor Santanu Das told reporters   A court in...

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Moneylife Digital Team 08 April 2015
SpeakAsia, the online survey scam, which duped thousands is facing a Rs2,276 crore cheating case. The Enforcement Directorate has attached bank balances of over Rs100 crore from accounts related with SpeakAsia   The Enforcement Directorate (ED), has attached bank balances worth...

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RTI activist Vijay Kumbhar was threatened on Monday afternoon, by a corporator-builder during file inspection under RTI at the Pune Municipal Corp    Threats and assaults on Right to Information (RTI) activists have unfortunately become a common phenomenon across the country and one...

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