MLM / CHAIN MONEY


Moneylife Digital Team 24 June 2024
The Mumbai zonal office of the directorate of enforcement (ED) has seized assets worth Rs37 crore, including cash, bank funds, and demat account holdings, as part of a money laundering probe against Mumbai-based financial consultant Amber Dalal and his company Ritz Consultancy Services. They...

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Moneylife Digital Team 18 April 2024
The Mumbai zonal office of the directorate of enforcement (ED) has provisionally attached immovable and movable properties worth Rs97.79 crore belonging to Ripu Sudan Kundra, aka Raj Kundra, under the provisions of the Prevention of Money Laundering Act (PMLA). The attached properties include a...

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Moneylife Digital Team 21 March 2024
The directorate of enforcement (ED) has provisionally attached movable and immovable assets located in Nashik, Thane, Sindurgarh and Pali districts, among other areas across Maharashtra and Rajasthan, worth Rs84.24 crore belonging to the promoters of multilevel marketing (MLM) KBC Multitrade...

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Moneylife Digital Team 18 March 2024
QNet, the controversial multi-level marketing (MLM) scheme and its franchisee Vihaan Direct Selling (India) Pvt Ltd received another jolt from courier service-providers. Following a letter from the registrar of companies (RoC), India Post and Blue Dart have decided to stop providing parcel...

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Updated at 9.45pm on 2 March 2024 to show that the portal even mischievously uses the name and photos of Sudhir Sethi, founder and chairman of Chiratae Ventures   The duck test is a form of abductive reasoning that implies that a person can identify an unknown subject by observing...

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Moneylife Digital Team 13 December 2023
Over 400 new multi-level-marketing (MLM) pyramid schemes were launched in India in 2023, the highest in five years, says Strategy India, a policy, compliance and direct-selling consultancy, and associate member of the Indian Direct Selling Association (IDSA).   According to Strategy...

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Moneylife Digital Team 20 November 2023
The enforcement directorate (ED) has filed a prosecution complaint against Amway India Enterprise Pvt Ltd before the Metropolitan Sessions Judge cum Special Court (PMLA) at Hyderabad under the Prevention of Money Laundering Act (PMLA). Amway, however, says the complaint filed by ED is related...

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Moneylife Digital Team 31 August 2023
To curb the sharing of fake profit and loss (P&L) screenshots and videos by financial influencers (fininfluencers) on social media to peddle courses, advisory, trading accounts, and other financial products, Zerodha Brokers Ltd has abandoned its verified P&L feature for transferred stocks....

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 The Enforcement Directorate (ED) recently raided the premises of VIPS Group and Global Affiliate Business in Pune and Ahmednagar, which resulted in the seizure of assets worth Rs 18.54 crore under the Foreign Exchange Management Act (FEMA).   The mastermind behind these operations...

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Moneylife Digital Team 30 May 2023
Markets regulator Securities and Exchange Board of India (SEBI) slapped a fine of Rs15 lakh on Alchemist Infra Realty Ltd's former director Balvir Singh for illegally mobilising funds from the public through a collective investment scheme (CIS). Mr Singh has already been restricted from...

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The enforcement directorate (ED) on Monday said it has recently carried out search operations in Coimbatore and Chennai in connection with a case under PMLA (Prevention of Money Laundering Act) filed against Santiago Martin and others pertaining to prize-winning tickets claim.   An...

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When a majestic building stood up erect in a conspicuous part of the town at the dawn of the current millennium, it did herald a new landmark of Chennai. Hotel Royal Le Meridien became the chosen destination for conferences and banquets with its large campus for quite some time.   Its...

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Moneylife Digital Team 20 January 2023
Enforcement directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has frozen 36 bank accounts relating to various companies, individuals and proprietorships connected with Vihaan Direct Selling India Pvt Ltd, the master franchisee of...

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IANS 21 December 2022
The Enforcement Directorate (ED) on Tuesday said that it has attached movable and immovable properties worth Rs 81.7 crore in the form of bank balances, land, flats, shops, and jewelleries belonging to Pranjil Batra, commission agents and others related to Future Makers Lifecare Pvt Ltd, a...

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IANS 15 December 2022
The enforcement directorate (ED) on Wednesday said it has attached immovable and movable assets worth Rs78.63 crore in connection with an investment fraud case in which one Nowhera Sheikh, and others have been named as accused.   The current attachment included properties worth...

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TruthInAdvertising.org 08 September 2022
In May, after being tipped off by a consumer, TINA.org alerted Tennessee-based supplement MLM Juice Plus to a high-level distributor using deceptive and illegal health claims to promote the company’s products on social media. In response, Juice Plus assured TINA.org that it had gone through...

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IANS 27 August 2022
In a rarest and strictest of punishments, a special CBI court in Tamil Nadu's Coimbatore has handed one K. Mohanraj and Kamalavalli 27 years' Rigorous Imprisonment besides ordering each to pay a fine of Rs 42.76 crore in a case related to cheating the public depositors to the tune of Rs...

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Moneylife Digital Team 08 August 2022
During the past three years, enforcement agencies working under the Union government have registered 196 cases involving 219 companies, the Lok Sabha was informed.    In a written reply, the minister of state for finance revealed, the government and enforcement agencies have taken...

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Bonnie Patten (TruthInAdvertising.org) 30 June 2022
Consumers can not afford to go it alone when it comes to atypical income claims.   In May 2022, TINA.org filed a comment concerning the US Federal Trade Commission (FTC)’s request for statements regarding its consideration of proposing a rulemaking to address deceptive or unfair...

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The Calcutta High Court on Monday appointed a judicial committee to ensure that the victims in West Bengal who have lost their hard-earned money after investing in different chit fund companies are duly compensated.   Calcutta High Court's division bench of Justice Indra Prasanna...

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