Corporate Frauds Watch in its relentless fight against Amway and other illegal swindlers has filed a writ petition against Amway India Enterprises appealing to the High Court of Andhra Pradesh to direct the officials of Andhra Pradesh State Government to stop the illegal business activities of Amway India. It has been pointed out that the Hon'ble High Court of Andhra Pradesh has already adjudicated that the business scheme of Amway India attracts the provisions of the Prize Chits & Money Circulation Schemes (Banning) Act, 1978. Still, Amway India is continuing its illegal operations through out the country.
Andhra Pradesh Government has issued an Order, G.O. M.S. No. 178 of 15-09-2008 restraining Amway India from advertising its illegal business activities. Still, not only Amway India advertises in the electronic and print media, it also updates its illegal business plan and solicits the public to join members of the scheme.
It shows that Amway India cares nobody and goes ahead with its arrogance.
Corporate Frauds Watch also sent notices to 22 TV channels and print media houses for publishing the advertisements of Amway India knowing fully well that it is illegal and lawfully banned from advertising its business scheme.
Let us wait and see for the outcome.
3 comments:
Hi! I'm a doctor in government service, forced to fight real estate fraud as my family members have been swindled. But the law is very weak in these cases and investor education and prevention of these incidents seems the only effective solution.
Amway is in obvious violation of the laws of Andrha Pradesh and is now arrogantly violating the sovereign laws of this most enlightened jurisdiction.
Significantly, the high justices have determined that Amway is indeed a money extracting scheme and violates significant and well established Indian law against such operations. It gives me heart to believe that other nations and jurisdictions could also come to grips with Amway fraud and take measures to protect their citizenry as well. Something that even the U.S. has been so hesitant to do, as the DeVos Amway empire is well established politically using Amway profits to stifle any efforts to reign in or enforce U.S. law and Federal Trade Commission regulation dealing with violation of rules requiring retail sales and a sufficient number of true retail customers.
Keep up the great work Shyam. Possibly some might consider this Amway issue to be a small matter, one which a thorough examination reveals to be a incredible 'closed market swindle!'
Amway cult adherents become defacto slaves to the Amway 'dream selling' myths which lead people to invest in a carefully disguised 'advance fee' fraud.
Critics of Amway have correctly pointed out how Amway fraud operates, but yet it is only within the world's largest democracy of India that Amway has properly been held to account for operating what Indian high justices have correctly ruled to be a money circulating scheme which in the end feeds off of their only real customers for Amway's overpriced goods: the Amway cult adherents.
Dr. Lakshmipathy...
I don't believe your argument that investor education and prevention is the only effective solution to real estate and Amway schemes? Why should Indian citizens be exposed to schemes which violate the law? You take the stance described as "Buyer Beware". Amway is a illegal scheme, and must be prosecuted to the full extent of Indian law. To obfuscate and allow Amway India to continue operating within the borders of Andrha Pradesh is to permit the very same thing that the law specifically forbids. People engaging in the Amway business are really no different than persons seeking to buy illegal drugs. Just because the illegal drugs can be found for sale on street corners, doesn't somehow then make them legal to buy?
Law without enforcement only serves to promote the very act which is outlawed! Investment in Amway must be recognized as theft and fraud. Investment is Amway doesn't truly exist. Indeed any investment in Amway could be likened to making an investiment with Bernie Madoff who also operated his own version of a Ponzi investment scheme.
I get your point. We have to make the environment safer. But its a huge big problem.
Even in case of Bernie Madoff, mathematical models were worked out and the Fed was warned sufficiently in advance and many times too! But to no use.
So while the true solution for the long term is a safer financial world, for now, it is 'Caveat emptor!'
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