The recent arrest of the chief of businesstalent.com in Hyderabad had proved once again that how the gullible and for that matter our economy is vulnerable to the schemes of the fraudulent companies. After all these frauds committed by a number of crooked companies, people still fall for the fast buck i.e. easy and quick money. They never realise that it is a trap for taking away their hard-earned money. They are easily duped with the tall promises of becoming rich in a jiffy.
HOW TO RECOGNISE THE FRAUDULENT SCHEMES:
It is very easy to identify the fraudulent schemes provided you are not hooked to the concept of making easy and quick money. Generally, though people knew that it is a fraudulent scheme, they think that they would be the first to make some money and the late entrants would lose their money.
But it is not true. It depends upon how many you could further deceive more people with sweet words and empty promises to join the scheme. If you cannot enroll more members you would certainly lose all your money.
For instance, there are a large number of people who lost lakhs of rupees after purchasing products from Herbalife. They could not sell their products though they stocked a sizeable amount of products and left with the stocks. Still, they do not realise that is the fraudulent scheme that is responsible for their loss. They blame themselves for their incompetency in enrolling new members.
TWO POINTS TO PONDER:
Whenever you are approached by someone to join some scheme, with the conditions of becoming member and further enrolling members, you must immediately realise that is a chain scheme and illegal. Try to tell him that is illegal and a crime. If he does not heed to your advise, try to approach the police. Generally police do not hear our voice.
Other option is approach an advocate or write to the Secretary of Corporate Frauds Watch to take legal recourse against such fraudulent companies.
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