MLM / CHAIN MONEY


Moneylife Digital Team 22 July 2014
An open letter from MLM expert Robert L FitzPatrick of Pyramid Scheme Alert to the US FTC exposes illegality of multi-level marketing (MLM) schemes and how law enforcement agencies can curb it. The same applies for India where thousands of pyramid or network marketing schemes are duping...

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Sucheta Dalal Sucheta Dalal 22 July 2014
Chain marketing schemes are still having a nice time, despite SEBI’s enhanced powers    The Direct Selling Association of India and the high-profile, multinational multi-level marketing (MLM) companies have stepped up the pressure on the National Democratic Alliance (NDA)...

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Moneylife Digital Team 17 July 2014
Within four years, Nashik-based KBC Multi Trade was able to collect crores of rupees. Its promoters and directors are absconding and three agents are already dead. The question is, why nobody, including SEBI took action in time? Even as several network marketing companies or multi-level...

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Moneylife Digital Team 27 May 2014
Based on a case filed in Kurnool, the Andhra Pradesh police took the CEO of Amway India into custody from the company headquarters at Gurgaon     William Scott Pinckney, chairman and chief executive (CEO) of Amway India has been again arrested by police. This time, he is arrested...

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Moneylife Digital Team 23 May 2014
CERT-In, the Indian cyber security sleuths, have blocked many portals related with QNet, including QNetIndia.in and QNet.net used by the MLM operator for all of its transactions   The Computer Emergency Response Team India (CERT-In) has blocked several websites of QNet, the...

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Moneylife Digital Team 23 April 2014
Kolkata-based Pailan Group has been raising money through its agents who promise high guaranteed returns on various investment schemes. Some are finding it difficult to get their money back. Is SEBI aware of it? Despite the scandal over Saradha and other schemes, the Pailan Group of...

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Moneylife Digital Team 12 April 2014
After being named as accused in the Rs425 crore QNet scam, Vanmala shifted its office to undisclosed location. However, the EOW raided this secret hideout and seized important documents about the MLM operations of QNet Economic Offences Wing (EOW) of Mumbai Police has raided a little...

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Moneylife Digital Team 20 February 2014
Pushpam Appalanaidu, MD of QuestNet India was arrested at Chennai International Airport following a look out notice from the Andhra Pradesh CID. Appalanaidu, a Malaysian, faces 21 criminal cases of cheating for duping investors for Rs160 crore Immigration authorities at the Chennai...

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Moneylife Digital Team 12 February 2014
The HC refused to defreeze bank accounts of Transview Enterprises owned by Suresh Thimiri, who is often touted as QNet India's CEO but had denied any relations with the MLM operator   The Bombay High Court on Wednesday rejected interim application filed by Suresh Thimiri, who is often...

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Moneylife Digital Team 06 February 2014
After facing probe by the EOW of Mumbai police, QNet, its founder and associates will now face the ED sleuths in the Rs425 crore MLM scam Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has registered a case in the...

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Moneylife Digital Team 27 January 2014
For weeks, Ferreira had avoided appearing before Mumbai police in the Rs425 crore QNet scam, until the Session Court asked him to present himself before the EOW. Ferreira is also booked by Mumbai police for allegedly forging documents to sell a plot of land at Gorai in Malad Former world...

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Moneylife Digital Team 22 January 2014
The Court in Mumbai asked former world Billiards champion Michael Ferreira to return to India, surrender his passport and appear before the EOW, which is probing the Rs425 crore QNet scam A Session Court in Mumbai on Wednesday has directed former world Billiards champion Michael Ferreira...

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Moneylife Digital Team 07 January 2014
After former world billiards champion Michael Ferreira, Boman Irani is the second celebrity against whom a complaint has been filed in the Rs425 crore QNet scam The Economic Offences Wing (EOW) of the Mumbai Police has received a complaint against Bollywood actor Boman Irani and his son...

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Moneylife Digital Team 02 January 2014
Mumbai Police have issued lookout notice against 10 people including QNet founder Vijay Eswaran and former billiards champion Michael Ferreira in the Rs425 crore QNet scam case The economic offences wing (EOW) of Mumbai police has issued lookout notices against 10 people including...

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Moneylife Digital Team 12 December 2013
Michael Ferreira, the former billiards champion and recipient of Padma Bhushan is the founder of 'Team Faith' that is involved in hard selling the QNet scheme across India and Egypt The economic offenses wing (EoW) of Mumbai police has summoned Michael Ferreira, the former billiards...

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Moneylife Digital Team 29 November 2013
While EOW of Mumbai police has registered cases against QNet, Speak Asia and MMM India, Maharashtra government has appealed investors and members of public to be cautious about such MLM, Ponzi and money circulation scheme operators The Home Ministry (or home department) in Maharashtra...

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Moneylife Digital Team 23 November 2013
According to EOW of Mumbai police, these team leaders of QNet received commission ranging from Rs40 lakh to Rs2.5 crore in the binary pyramid scheme which is banned in India QNet, the Hong Kong-based controversial multi-level marketing (MLM) operator that is accused of collecting money...

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Moneylife Digital Team 31 October 2013
Mr Thimiri, the so-called CEO of the controversial MLM, owns registered trademark of QNet in India. He also admitted before the High Court that his company Transview imports and manufactures products for selling to Vihaan Direct, the official franchisee of QNet in India The case of QNet,...

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Vishrut Patel 18 October 2013
Why would anyone offer Rs15,500 ($256) a day to do basic typing work? Well, it appears to be a straight scam, without even pretending to run a business or create a pyramid.  It simply asks people to register FREE, seeks credit card details, ostensibly as age-proof and begins by siphoning off...

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Yogesh Sapkale Yogesh Sapkale 30 August 2013
QNet India’s CEO Suresh Thimiri, in his anticipatory bail application has denied any relations with the MLM company and its representatives! The case of QNet, the Hong Kong-based controversial multi-level marketing (MLM) operator is taking various twists every day; but this one will...

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