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 two lakh registered customers in the lurch

Adooye.com, (ADooye) a supposedly US based website, that was selling 'packages' with a promise to pay for watching online advertisements and adding more members to the network, has gone burst, say media reports. Some victims, who 'invested' crores of rupees have filed a complaint against the multi-level marketing (MLM) company at Bengaluru.

In June 2014, Moneylife had warned about the risky 'business model' of ADooye similar to other strings of MLMs like Speak Asia, Fanbox, Empower Network, QNet and other pyramid and Ponzi schemes.

According to Times of India report, Kreetam Associates, the litigation firm fighting on behalf of the victims, had filed a first information report (FIR) against ADooye and Bangalore police are investigating the case. "The company stopped paying returns in August around the time it was changing the website layout. The site closed down early September and the company doesn't exist anymore and there is no one to contact," Vasanth Aditya, managing director of Kreetam Associates, told the newspaper.

Quoting Vasanth, the report says, ADooye.com has collected over Rs600 crore.

Moneylife investigated this company when a worried reader wrote to asking to look into their credentials. Their website states that ADooye is founded by Australian Mathew Reichgruber and Alessandro Sen, and marketed by Delhi based AD Marketing. This affiliated marketing company, which operates like an MLM sold various 'packages' containing online advertisements, on viewing which the member was rewarded.

Apart from this, ADooye earned more income from selling various expensive 'packages', which were nothing but login access to view 10 advertisements daily for 140 days, to its registered members. They have had a built network with the help of paid members who generate web traffic, when even for showcasing advertisement they charge money from its members.

Here are comments from some of our readers on earlier article...

"Dear Friends, before joining in Adooye I had lots of query and discussion with the Leader at Bhubaneswar, Odisha and finally I was agreed when received a PDC cheque and put Rs2.5 lakh. After received only Rs20,000 now it is vanished. For that I communicated with Local police, Cyber crime and also send information thru mail to our Prime minister Narendra Modi by describing the MLM. We need to raise our strong voice which will put impact to this type of ****ards."

"My friends have lost almost 4 lakhs rupees investing on Adooye. We are still waiting for the payment don’t know when will we receive the money back."

"Again a company arise to loot innocent people’s money. Beware friends do not get involved in this MLM company and waste your money. Do not become greedy and invest your hard earned money in any MLM Companies. They will show you dreams and take away your cash and vanishes like SpeakAsiaOnline, Qnet India and many more to name...........BEWARE. Remember My Words. Control your Greed. Don't Become a Pray."

"Once again Hat's Off to Moneylife for bringing into the open another MLM which will only milk the late comers to pay off the earlier members."

Moneylife has written several articles on frauds that lure people by floating various MLMs and frequently warned investors that “If it looks too good to be true, it usually is.”