Here is another fraudulent company which is indulging in money circulation scheme in the name of several products including insurance policies. However, it is a naked money circulation scheme being run by Jeevan Seva. On the face of it, it pretends to sell insurance policies of Reliance (Anil Ambani group) giving an impression that it is directly affiliated to ADAG (Anil Dhirubhai Ambani Group) .
However, a close look at its activities reveal the nefarious activities of money circulation scheme. Look at its brochure. It offers to become a member by paying Rs. 2649 or Rs. 1549 for membership. All you have to do is enroll as many members as you could to earn a sizable commission. It also asks you to induce more members particularly from your family members and friends to become members and it promises you an accident insurance policy worth Rs. 3,00,000 for the payment of Rs. 1550 and an annual renewal fee of Rs. 500.
The group accident insurance policy costs less than Rs. 100 and one could understand how much this fraudulent company is making from its members.
When this matter was taken to the notice of the police, the answer is predictable. Bring the victims we would file a criminal case. This is the state of affairs of our policing system.