MLM pyramid schemes devouring south Asia
Posted: Thu Nov 08, 2012 2:46 pm
If you subscribe to news alerts about MLM scams and pyramid schemes, one thing you may have noticed is that a huge proportion of the news on this topic relates to India, Bangladesh and Pakistan, where MLM and pyramid schemes run rampant, and there are daily stories about their predations on the public while government does little to intervene.
I thought this one was a pretty good summary of some recent events in India:
http://www.moneylife.in/article/mlms-co ... 29573.html
I thought this one was a pretty good summary of some recent events in India:
http://www.moneylife.in/article/mlms-co ... 29573.html
Every other day, there is news about people getting cheated through “earn-double-money” in less than a year run under the multi-level marketing (MLM) model. While the ministry of corporate affairs (MCA) appears to have woken up by the financial mess and menace created by thousands of MLM companies, the watchdogs or regulators who have the powers to stop all this, on several occasions, are found to be merely watching things as mute spectators.