Sunday, 29 April 2012

Fake Pharmacy peddled fake pills, but its instigator stole £15.4 millions of real cash

Your free-thinking readers should find the latest news from Britain both frightening and informative. 
Almost three years ago, Simon Hickman (from Manchester) was sentenced to just two years prison for running a fake 'online pharmacy' which he used to peddle fake 'Viagra.' 
Hickman had relied on the fact that the majority of his victims would be far too embarrassed to come forward and complain.
Even though Hickman advertised his stolen wealth (buying luxury cars, properties, etc.), it apparently took a team of British law enforcement agents 6 years to discover how much cash he had thieved, and for them to find it.
A court has now ruled that Hickman took £15.4 millions, but he has been given 6 months to hand over $14.4 millions.
David Brear (copyright 2012)

Thursday, 19 April 2012

AP High Court dismisses Akshaya Gold writ petitions

Andhra Pradesh High Court on Wednesday (18-04-2012) dismissed the two writ petitions filed by Akshaya Gold challenging the police action against the company which claims to be in the real estate business and helping the poor to secure house sites at low cost.
It may be recalled that the police recently raided the premises where the agents of Akshaya Gold met to discuss the future course of action to mobilise more deposits from public. The Police of Prakasam District under the dynamic leadership of Dr Kolli Raghurama Reddy, superintendent of police, rounded up the accused persons and arrested the key persons behind the racket.
Akshaya Gold which has been collecting deposits illegally from public in the name of real estate for quite some time, preferred to file two writ petitions in the AP High Court challenging the police action. However, Justice Subhash Reddy after going through the affidavits filed by the fraudulent company and the Government of Andhra Pradesh, opined the police could continue the investigation and there is no harm if the investigation is continued.
The senior Judge of AP High Court dismissed both the petitions and instructed the police to continue with the investigation.
It could be a severe set back to so many other companies which have been cheating the public in the name of real estate business. AgriGold, Abhaya Gold, Forever Gold and KMJ Land Developers, and some other companies have been collecting huge deposits by paying huge commissions of up to 30 per cent to their agents. It is high time, the police concentrated on the activities of other companies too in the larger interest of people of the State.
At national level, there are other racketeers like PACL aka Pearls, Rose Valley and some other companies have been cheating the gullible in the name of real estate.

Wednesday, 18 April 2012

Mobile tower racketeers swindle Rs one hundred crore

Hardly a month passed after this blog cited about the cell phone tower racket, Andhra Pradesh Police launched massive investigation into this racket which has already cost the gullible several hundreds of crores all over India.
Some enterprising crooks had already collected several millions offering huge returns if they give their land or terrace on their household for the erection of cellular mobile towers. The offers ranged from Rs. 70,000 monthly rent and an advance amount of Rs. 44 lakh (4.4 million). Naturally many had fallen for the bait and it is estimated people all over country had already lost Rs. 100 crore (one billion) to these fraudsters.
Advertisements appeared in many vernacular newspapers regarding the cell tower erection and all they have to do is contact by a mobile number. Once contacted the prospective customers are told to deposit Rs. 5,000 in a Bank account for registration.
A person in the name of the representative of a particular mobile company approached them and collected Rs. 5,000 as inspection fee. Later, the customers are told to pay Rs. 81, 500 as tax at the rate of 3.25 per cent before encashing a cheque for Rs. 44 lakh. People are eager to encash the cheque and they immediately paid the so-called tax amount in an account. They are told to encash the cheque only after installation of the cell tower.
Then the drama started. People keep on calling the number which is now defunct and soon they realised that they were taken for a ride.

Tuesday, 17 April 2012

అక్షయ గోల్డ్ చేసేది పచ్చి మోసమే

అక్షయ గోల్డ్ పై  పోలీసులు దాడి చేసిన తరువాత ఈ మధ్యన భారి ఎత్తున ప్రకటనలు ఇవ్వడం మొదలు పెట్టింది. ఆ ప్రకటనలలో తాము బిద ప్రజలకు ఇళ్ళ స్థలాలు తక్కువ ధరల్లో ఇవ్వడానికి కృషి చేస్తున్నామని ప్రకటిస్తున్నారు.
నిజానికి అక్షయ గోల్డ్ కేవలం ప్రజల దగ్గర నుంచి చట్ట విరుద్ధంగా భారీ ఎత్తున డిపాజిట్లు వసూలు  చేస్తోంది. ఈ సంస్థ అగ్రిగోల్ద్ సంస్థ ను ఆదర్శంగా తీసుకుని ఇలా డబ్బు వసూలు చేస్తోంది. అగ్రిగోల్ద్ కూడా ప్రజల నుంచి అక్రమంగా డిపాజిట్లు వసూలు చేస్తోంది.
ఈ విషయం కార్పొరేట్ ఫ్రాడ్స్ వాచ్ ప్రజల దృష్టికి పోలిసుల దృష్టికి ఎప్పుడో తీసుకెళ్ళింది. రామచంద్రాపురం పొలిసు స్టేషన్ లో అగ్రిగోల్ద్ సంస్థ పై క్రిమినల్ కేసు కూడా నమోదు చేసింది.
అక్షయ గోల్డ్ కాని అగ్రిగోల్ద్ కాని వారి దగ్గర డిపాజిట్లు చేసిన వారందరికి ఇళ్ళ స్తలాలు ఇవ్వడానికి వారి దగ్గర సరిపోను భూమి లేదు. పోలీసులు ఈ దశలో దర్యాప్తు చేస్తే మొత్తం మోసం బయట పడుతుంది.
ఎంత మంది నుంచి డబ్బు వసూలు చేసారు ఎంత మందికి స్తలాలు ఇచ్చారు, ఎవరికైనా స్తలం ఇచ్చినట్లు ఆధారాలు ఉన్నాయా? అన్న అంశం పై పోలీసులు దృష్టి సారించాలి.
డబ్బు వసూలు చేస్తున్నపుడు ప్రజల దగ్గర నుంచి వసూలు చేసిన డబ్బులో ఏజంట్ల కమిషన్ ఎంత చెల్లించారు. ఈ అంశాల పై విచారణ చేస్తే, ఇది ఒక మని సర్కులేషన్ పథకం అని స్పష్టమై పోతుంది.
ఇదిలా ఉండగా, భారతీయ రిజర్వు బ్యాంకు ఎప్పుడో 1986 లోనే ప్రజల దగ్గర నుంచి అక్రమంగా బ్యాంకు అనుమతి లేకుండా డిపాజిట్లు వసూలు చేయడానికి రాష్ట్ర పోలీసులు కృషి చేయాలనీ రాష్ట్ర ప్రభుత్వానికి లేఖ రాసింది. పోలిసుల దగ్గర చాలినంత బలగం లేక ఇంట కాలం ఎటువంటి చర్యలు తీసుకోలేక పోయారు. ఇప్పుడు ఇటువంటి నేరాల మిద దృష్టి సారించారు కాబట్టి ఈ దిశలో దర్యాప్తు చేస్తే అసలు దోషులు బయట పడతారు.
ఎంత మంది ఏజంట్లు ఉన్నారు, వారికీ ఎంత కమిషన్ చెల్లించారు అన్న అంశం పై దర్యాప్తు చేస్తే మని సర్కులేషన్ కోణం బయట పడుతుంది. ప్రజలను తక్కువ సమయంలో ఎక్కువ డబ్బు వస్తుందని ఆశ పెట్టి వారిని పథకంలో చేర్పించారు కాబట్టి అక్షయ గోల్డ్ నిర్వాహకులను సెక్షన్ 420 క్రింద కూడా నమోదు చేయాలి.
శ్యామ సుందర్ 
కార్పోరేట్ ఫ్రాడ్స్ వాచ్ 

Saturday, 14 April 2012

Amway only makes money not its distributors

One of our readers Ramu describes how only Amway makes money and almost all its distributors who are actually customers lose money.

Amway says it is building Distributors network. But actually they are building customer network. They give away distributorship for free and with no particular experience of selling products - because they are not making you a distributor but only making a customer of Amway.
Once a person become distributor (so called). He has to purchase stuff for his own use (this is forced by upline) and this is how Amway does business.
Distributors are themselves buying products for self or for family members.
Amway pays 21% to the distributor incentive to entire line. They give 20% commission to the distributor, they spend 7 - 8% on promotions/meetings/seminar and 3% is diamond/platinum member’s bonus. Amway as a Company earns 20% profit. So if you add all these around 80% of the MRP is distributed and the Product is just works out to 20% (including manufacturing cost, employee salary, infrastructure expenses etc).
So just imagine you are paying Rs 1000 for a Rs 200 product. Which customer is going to buy such a product??? 
I have worked with Amway (Alticor is the actual entity). And the so called Distributor information is saved in CUSTOMER Tables. So for Amway all distributors are just customers. The one higher on the line earns some incentives and the one below just dreams of getting higher.

Police arrest Akshaya Gold owners

Andhra Pradesh police swooped on a meeting at Ongole in Prakasam district in Andhra Pradesh organised by Akshaya Gold group and arrested the agents, members, and office-bearers of the company which has been collecting deposits without any authorisation from the Reserve Bank of India with the offer of huge returns in a short span and huge commission to the agents who collect such deposits.
The Superintendent of Polcice, Mr Raghuram Reddy said that the fraudulent company has been cheating the gullible with the promise of huge returns on deposits and it has no permission from the Reserve Bank of India to mobilise deposits.
So far, it is believed that the company has collected about Rs. 200 crore (two billion) from public.
However, the company owners say that the company has purchased several acres of land with the funds to enable it to refund deposits to the public.
History proved otherwise. Not a single company right from the Golden Forest in the 1990s which has purchased lands with the public money never refunded a single rupee to the public.
So is the case with AgriGold. It is also collecting deposits paying as high as 30 per cent commission to its agents. The intention is clear. 

Monday, 9 April 2012

Beware! Crooks lurk to loot your hard-earned money

Of late a number of crooks are lurking out there to cheat you and snatch your hard-earned money in the name of easy and quick money and even employment. Corporate Frauds Watch has been exposing the dubious ways of various multilevel marketing companies like Amway, Herbalife, Tupperware, AMC, Max New York Life Insurance and others. However, several new crooks are raising their ugly heads with new schemes. 
We come across a number of advertisements in Classified columns in newspapers everyday under the head Business Services. They claim that you could earn sizable income sitting at home by making paper plates, tube light chokes, CFL bulbs, candles, Mobile towers and other things. If you evince any interest you would lose a sizable amount of money. They charge exorbitant price to erect the manufacturing units at your home and try to rope you in with an offer of high commission to bring in more people. Thus you too would become a part of the racket. 
The latest in the racket is the employment opportunity. Advertisements appear in vernacular newspapers offering employment in various industries with a salary of Rs. 12,500 to Rs. 20,000 in various capacities like supervisors. All one has to do is register themselves with the advertiser by paying Rs. 1,500 and keep ready four photographs, ration card or any other card for identification. If anyone is hooked with the good employment opportunity, he is told to deposit the amount in a bank account in his town and wait for the appointment order.
Generally, all these advertisements appear in the name of young girls who try to hook the prospective clients with sweet talk to deposit the amount immediately. They never disclose where their office is located. If anybody insists they would be told to come to a particular place in the capital city of Hyderabad for inquiry. In effect, they have to travel eight hours to learn that they are cheated. And nobody would go to police to lodge a complaint for the amount of Rs. 1500. On the other hand, they feel ashamed to tell anyone that they are cheated. That is how these crooks are surviving.
Advertisements also appear inviting applications to erect mobile towers on the roof top of your house or on the empty space in your backyard. The advertisement claims that the mobile companies would pay you Rs. 12,000 monthly rent and an interest-free deposit of Rs. 10 lakh..All one has to do is deposit Rs. 5000 in a Bank account and wait for the erection of mobile towers. No need to say this would never happen. You keep on waiting till you realise that you are cheated. Same is the case with this category. They maintain silence and refuse to share the information with anyone let alone lodging a complaint with the police. 
Anyway, police evince little interest to take the complaint on file and investigate. They simply laugh at you to further your embarrassment. 

Tuesday, 3 April 2012

Tycoon money fraud kingpin in police custody

Kerala Police's Special Investigation Team (SIT) recently arrested Narayana Narasimhalu, chief of the Tycoon Empire International Ltd of Chennai, which has defrauded several millions of people all over South India up to Rs. 400 crore. The 36-year old accused, an MBA graduate was arrested after the SIT team raided his house at Valsaravakkam in Chennai. Police also seized four luxury vehicles and documents relating to 82 acres of land which the accused bought at Ooty, Coonoor and Palladam using the ill-gotten money.
The police said that the accused is the kingpin of the Chennai-based multilevel marketing company though he did not involve directly in its activities. "He was very much aware of the illegality and was careful not to use his name or address anywhere in the documents related to the marketing company or on its website. However, the accused was zeroed in after tracking the cash flow from various accounts in the Banks, the police said.
The company was registered in the name of his personal staff including driver and sweepers and they were later appointed as directors. He was staying in a multi-crorehouse at a posh residential area inChennai with four gates fixed with high definition security cameras, police said.