MLM / CHAIN MONEY


TruthInAdvertising.org 10 May 2022
According to Arizona-based MLM Forever Living (aka Forever), which sells a variety of aloe vera wellness products, “Starting a business with Forever gives you the potential to earn a significant income stream, plus have time and freedom to build your life according to your dreams and allows...

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Moneylife Digital Team 05 April 2022
Reiterating that Ponzi schemes are banned under Prize Chit and Money Circulation Schemes (Banning) Act, 1978 and as per the Act, state government is the enforcement agency, the Union government says it has asked serious fraud investigation office (SFIO) to probe as many as 84...

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TruthInAdvertising.org 02 November 2021
Last week the US Federal Trade Commission (FTC) put the multilevel marketing (MLM) industry on notice that its time for using deceptive income claims without facing penalties (of as much as $43,792 per violation) is up.   With the support of all five FTC commissioners, the agency...

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Moneylife Digital Team 25 August 2021
Nandalal Kesar Singh, chairman of the Phenomenal group of companies, has been sent to police custody till 2 September 2021 by a court in Latur. Mr Singh, the brain behind a Rs684 crore Ponzi scam, was arrested on Sunday by Mumbai Police’s crime branch Unit VII from a city...

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Harshita Shah 02 August 2021
UPDATED on 11 August 2021 at 10.45am to incorporate response received from BizGurukul   BizGurukul, as it describes itself, is an online e-learning platform that sells skill development courses related to entrepreneurship, career and business development and additionally provides...

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The Enforcement Directorate (ED) said on Thursday that it has attached assets worth Rs 31.63 crore of eBiz.com and its directors in a pyramid style, multi-level marketing fraud case.   An ED official said that the assets have been attached under the provisions of Prevention of Money...

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Punjab police in Roopnagar district has arrested five persons for cheating a hotel-owner on pretext of doubling the money in few days.   SSP of Roopnagar/Ropar Akhil Chaudhary said to media, accused Ikshit of Sirsa and Ankit from Bhiwani and Gurpreet Singh, Sachinpreet Sindhu and...

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Yogesh Sapkale Yogesh Sapkale 03 March 2021
Despite repeated warnings from the regulator as well as from Moneylife, the gullible investor continues to fall prey to get-rich-quick frauds. The latest to join the long-long list of such Ponzi or money circulation schemes is Oksome.in, promoted by one Omnicom group that operates its scheme...

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IANS 23 December 2020
The Enforcement Directorate (ED) on Wednesday said it has arrested three promoters of the Agri Gold Group of Companies in a Ponzi Scheme Fraud Case worth Rs6,380 crore.   Those arrested have been identified as Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Rao, Avva Hema Sundara...

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Moneylife Digital Team 07 October 2020
Mumbai-based Emex Fundamental Tradez Marketing International Pvt Ltd (Emex FTM) is the new entrant in the world of money circulation schemes that promises exaggerated assured returns on increasing new recruits in binary mode. While Emex FTM's website shies away from providing any information...

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TruthInAdvertising.org 17 September 2020
When promoting the business opportunity, multilevel marketing (MLM) companies and their distributors should generally avoid making any income claims. Why? Because most MLM distributors make little to no money, and touting the possibility of making bank is just plain deceptive.   The

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IANS 11 September 2020
Two persons have been arrested on the charge of cheating people out of approximately Rs 42,000 crore in different states on the pretext of good returns through a ponzi scheme 'Bike Boat', Delhi Police said on Friday.   The Economic Offence Wing arrested CMD Sanjay Bhati and Director...

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The Enforcement Directorate (ED) has filed a chargesheet against 12 persons in a multi level marketing and ponzi scheme fraud case in which 1,18,288 investors were duped of over Rs 215 crore during 2008-2011.   City-based Gold Sukh Trade India Ltd, its sister concern Gold Sukh...

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Senior IAS officer B.M. Vijayshankar, who was reportedly involved in the multi-crore IMA Ponzi scam, allegedly committed suicide in his house, an official said on Tuesday. He was 59.   "Vijayshakar was found hanging in a room on the first floor of his residence at Jayanagar in the...

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Sumit Kumar Singh (IANS) 11 June 2020
Trouble mounts for Karnataka Cadre IAS officer B.M. Vijayshankar and two state service cadre officers as the Central Bureau of Investigation (CBI) seeks prosecution sanction against them to probe into allegation of taking bribe in the IMA ponzi scam, a financial fraud, worth Rs 4,000...

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TruthInAdvertising.org 14 February 2020
Tranont distributor touts MLM's nutritional supplements as a prevention for the Coronavirus.   “If China Couldn’t contain the Coronavirus do you think Hawaii can?” a distributor for Utah-based nutritional supplements MLM Tranont and Hawaiian resident poses to members of a “Health &...

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Moneylife Digital Team 13 February 2020
The ministry of finance has notified the Banning of Unregulated Deposit Schemes (BUDS) Rules, 2020 from 12 February 2020 that provide for a comprehensive mechanism to tackle illicit deposit-taking activities and Ponzi schemes, says a report from LawStreetIndia.com, the corporate law portal of...

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IANS 03 February 2020
What could spell trouble for Bollywood superstar Shah Rukh Khan's wife Gauri Khan and actress Juhi Chawla's husband Jay Mehta, the Enforcement Directorate (ED) has attached Rs 70 crore bank accounts of Knight Riders Sports (KRSPL) and St. Xavier's College, Kolkata, and others in connection...

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TruthInAdvertising.org 31 January 2020
The US Federal Trade Commission (FTC) recently announced that it had secured an ex parte temporary restraining order (TRO), asset freeze and appointment of receiver against Nevada-based MLM Success by Health (SBH), its founder and CEO Jay Noland, his wife and two other SBH employees based on...

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Moneylife Digital Team 06 January 2020
Market regulator Securities and Exchange Board of India (SEBI) has released notice to auction properties of Royal Twinkle Star Club Ltd and Citrus Check Inns Ltd at Alappuzha, Lower Parel, Bengaluru and Lonavala. Both Royal Twinkle Star Club and Citrus Check Inns are involved in an alleged...

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