Nation Crime 09 Sep 2018 Hyderabad: Rs 1,200 ...

Hyderabad: Rs 1,200 crore marketing fraud to fore

DECCAN CHRONICLE. | NAVEEN KUMAR
Published Sep 9, 2018, 2:22 am IST
Updated Sep 9, 2018, 4:57 am IST
Company headed by a Class VII drop-out.
Police arrested Shyam, chief managing director of Future Maker Life Care Global Marketing Pvt Ltd, and his associate distributor Surender Singh and seized Rs 200 crore from them.  (Representational Images)
 Police arrested Shyam, chief managing director of Future Maker Life Care Global Marketing Pvt Ltd, and his associate distributor Surender Singh and seized Rs 200 crore from them. (Representational Images)

Hyderabad: The Economic Offences Wing (EOW) of the Cyberabad police said that it had busted a New Delhi-registered multilevel marketing money circulation scheme that had duped 20 lakh victims from around the country to the tune of more than Rs 1,200 crore.

The police the company was headed by Radhe Shyam, a Class VII drop-out.

 

Police arrested Shyam, chief managing director of Future Maker Life Care Global Marketing Pvt Ltd, and his associate distributor Surender Singh and seized Rs 200 crore from them.

The Future Maker is registered with the Registrar of Companies, New Delhi, and has its head office at Hissar, Haryana.

The scam came to light with a cheating case booked by the Kukatpally police which was later handed over to the EOW which took up the investigation.

Cyberabad police commissioner V.C. Sajjanar said the company had used a binary scheme, under which one person had to enrol two persons. Each of these two persons had to enrol two others and the chain continued.

 

“They advertised in leading newspapers and lured non-working class sector like housewives, unemployed youth. The joining fee was Rs 2,500 and Rs 5,000 allotted for purchase of clothes and medicines,” he said. 

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Location: India, Telangana, Hyderabad




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