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.
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”.
Dewan Housing Finance shares slumped to an intraday low of Rs. 103.95 According to sources Dewan Housing Finance Corporation shares fell as much as 6.5% on Thursday, a day after the company said its chief executive Harshil Mehta had resigned. Reportedly Dewan Housing Finance shares opened lower at Rs. 104.00 apiece on the National Stock Exchange (NSE) and slumped to an intraday low of Rs. 103.95 in early trade, from their previous close of Rs. 111.20.
- Ooty Lake to be cleaned soon
- TN soldier's family and village saddened by death!
- #PulwamaTerroristAttack - Brave Father's inspiring quote after son's death in Pulwama!
- Suicide bomber was 11th class dropout!
- School girl murder mystery resolved!
- 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
- Pinnacle Blooms - Helping special kids
- Forest department eyeing Chinnathambi!