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, chairman of the MPS group, a shady chit fund operation, was arrested after years of defiance against SEBI’s action and being asked to shut down his operations in 2012. The investigation into Sharada scam has picked up speed and another major West Bengal operation, the Rose Valley group, is also facing regulatory action.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
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huge interest rates are really fraud and fly by night companies and are scam artists.
Scam is only when you promise to pay and dont pay!
You then live on your PPF pension which is peanuts.
In Amway or such companies you can pass your business legacy to your future generations. Where in a corporate job you seldom get a chance to be a ceo. In Amway or other such companies all distributors have equal chance to grow their own organisation.
The argument that only top few distributors make money is a lame argument comes from a communist mind set. In capitalism only top few get rich. The entrepreneurs become rich, those who work like jobber or salesman in network marketing company do not grow.
http://www.business-standard.com/article...
Two top representatives of QNet, a Hong Kong-based multi-level marketing company allegedly involved in a Rs 425-crore fraud here, were arrested today after being picked up from Delhi international airport, police said.
The controversial company's senior independent representatives, identified as Sandeep Kalra and Hitesh Miglani, were intercepted by immigration authorities at the Indira Gandhi International Airport at Delhi last night, said an officer with Mumbai Police Economic Offence Wing (EOW).
The duo, who arrived from Dubai in separate flights, was stopped at the airport as Look Out Circulars (LOC) were issued against them by the EOW probing the case.
The two suspects, who were suspected to have had pocketed lakhs of rupees through the scheme and organised several training camps to lure investors, have been subsequently brought to the metropolis and placed under arrest this evening, police said.
The LOCs have been issued against those whose statements have been necessitated in the probe but did not appear before the investigators despite summons.
Kalra hails from Delhi while Miglani is from Bangalore, police said adding that this is the first arrest of those against whom LOCs had been issued.
The EOW had earlier arrested 15 persons for allegedly duping investors by selling QNet products, including magnetic disks, herbal products and holiday schemes, through allegedly fraudulent means.
The EOW has invoked the stringent Maharashtra Protection of Interest of Depositors (MPID) against the company which has denied any wrongdoing on its part.
QNet has also been accused of using the banned binary pyramid business model. An FIR in the case was registered in August in 2013.
The accused had been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.
Yes, MLM has garnered a bad name but only due to the acts of certain crooks who use the guise of MLM to cheat people like Speakasia etc.
Kindly let me know the "beutiful" "legal" MLM you belong to