Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
TM
Sat, Feb 16, 2019 | Last Updated 11:26 am IST

Menu &Sections

Search

Police arrested CMD of Multilevel Marketing Money Circulation Scheme

Police arrested CMD of Multilevel Marketing Money Circulation Scheme
Police arrested CMD of Multilevel Marketing Money Circulation Scheme
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Hyderabad sources stated that the Economic Offences Wing (EOW) of the Cyberabad police said that it had busted a New Delhi registered multilevel marketing money circulation scheme that had duped 20 lakh victims from around the country to the tune of more than Rs 1,200 crore. Meanwhile the police the company was headed by Radhe Shyam, a Class VII drop-out. Accordingly police arrested Shyam, chief managing director of Future Maker Life Care Global Marketing Pvt Ltd, and his associate distributor Surender Singh and seized Rs 200 crore from them.



Furthermore the Future Maker is registered with the Registrar of Companies, New Delhi, and has its head office at Hissar, Haryana. Hence the scam came to light with a cheating case booked by the Kukatpally police which was later handed over to the EOW which took up the investigation.

Police arrested CMD of Multilevel Marketing Money Circulation Scheme

Moreover the Cyberabad police commissioner V.C. Sajjanar said the company had used a binary scheme, under which one person had to enroll two persons, where each of these two persons had to enroll two others and the chain continued. He said “They advertised in leading newspapers and lured non-working class sector like housewives, unemployed youth and the joining fee was Rs 2,500 and Rs 5,000 allotted for purchase of clothes and medicines”.

Police arrested CMD of Multilevel Marketing Money Circulation Scheme

Police arrested CMD of Multilevel Marketing Money Circulation Scheme
5/ 5 - (1 votes)
Add To Favourite
More from author
Dewan Housing Finance shares slumped to an intraday low of Rs. 103.95
Ooty Lake to be cleaned soon
Air India flights to Iraq begins operations after 30 years
Dhanush congratulated Sai Pallavi for beating her own record saying 200 Million
Protest shutdown against terror attack affects life in Jammu
Telangana Municipalities good news for Families below poverty line
CRPF Jawans victimized in Jammu & Kashmir
Surprise Gift to Rahul Gandhi on Valentines Day
 2 alliances in India, one under Rahul Gandhi and a 'gatbandhan' which has no leader: Amit Shah
Arya & Sayyeshaa getting engaged to each other
Dinesh Karthik reveals reason for loss!
Forest department eyeing Chinnathambi!
Kamal Hassan praises woman!
Captain Vijayakanth coming soon!
Trump still adds to sources not requiring congressional approval
New inmate into TDP from MLA Nandamuri Balakrishna's Family
Will Anti Corruption Bureau in Delhi be controlled as per instructions from SC?
KCR Govt plans to illuminate Charminar with 190-watt LED light
When will Tamilnadu Districts be upgraded as Corporations?
Know how to hide Caller ID when making call to Uber Driver
Is there any delay in conducting 3rd season of Telugu Bigg Boss?
Election work inspected for Telangana by CEC
Rhode Island Governor lauded Infosys for training its graduates for digital jobs
We worked 100% for upliftment of country: PM Narendra Modi
PM Narendra Modi's next visit to AP by February end
Deepika Padukone's gift to Ranveer on Valentine's Day
Girl molested by Facebook friend!
Opposition attacking centre!
Vaiko in tears on stage!
Hindu Munnani warns lovers!
Jeff Bezo's Private messages to Lauren Sanchez leaked
Namrata said that Mahesh has no time for politics
Telugu actor Sivaji says he not affiliated to any party in AP
PM Narendra Modi served Food for Children at Akshay Patra foundation in Vrindavan
Pawan Kalyan's dream is to get MLA ticket
90% Farmers in Telangana voted for TRS Party due to Rythu Bandhu Scheme
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.