The Hyderabad police busted another multilevel marketing racket after arresting three persons and seizing 1.4 kg gold worth about Rs. 25 million and cash of Rs. 4.7 million from them. The interesting point is that these three persons are not highly literate or highly qualified. One is a washer man while the other two are auto rickshaw drivers.
They started a web site with the help of a web designer and started their racket. They induced people to watch advertisements on their website for which they would pay Rs. 10 per advertisement and the customers have to see only 7 ads per day. So the customers would get Rs. 70 per day and per month they would get Rs. 2,100. Well, so far it is okay. The catch point is, they have to become members paying Rs. 2,500 per membership. Then if they enroll more members they would get handsome commission. The racket satisfied all the ingredients of a crime under Prize Chits & Money Circulation Schemes (Banning) Act, 1978. Still, nobody notices and complains till it is too late.
By the time, police opened their eyes and arrested the culprits, the crooks have already made nearly Rs. 40 million.
This blog has been trying to bring awareness among people not to fall prey to such crooks. Still, new crooks are coming out and new victims are falling for their machinations. But greed is one thing that is hard to resist.
If anybody tells you that there is easy and quick money. If anybody asks you to become a member paying a substantial amount and to bring in more members that is a crime and punishable with three years imprisonment and fine.
Please do not fall prey. Immediately contact police and lodge a complaint.
All the police stations in the state of Andhra Pradesh received a Memorandum from the Director General of Police to register cases whenever they received complaints of money circulation schemes. It was issued on the representation submitted by Corporate Frauds Watch. You can remind the police about it and demand them to register criminal cases.
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