Ponzi and Fraud Direct Selling Schemes: Inputs

Last week a ponzi scheme of a magnitude of 3000 crores was unearthed in Delhi/NCR. Several others have been reported since then.

With this post, we would like to seek your inputs on what are the various such schemes that you have come across.

Once we have all the issues and experiences documented, we would like to have a separate discussion on what solutions should be implemented to address them in a systematic way.

We look forward to your inputs!
Indian Police Foundation more  

View all 20 comments Below 20 comments
There are hundreds of money circulation schemes are running in the market. They collect crores of rupees from the members and run away with their hard earned money. In fact we, out of our greed of earning fast are trapped in their lucrative offers and loss money. Banks must be given strict instructions that in case of fast input of money and such schemes must be brought into the knowledge of appropriate government authorities. Public in general must be given some important phone and email details that in case of knowledge of such people/companies, they can inform the government/police etc. But people are not aware. Secondly, public is afraid of anti social elements may harm them physical, if they come to know about the person who has lodged complain. Hence we need to form laws for the protection of the one who complains. Whistle blower laws must be implemented with firm hands. more  
A national police complaint center should be established for complaints only on cyber and phone/mobile solicited schemes. Much better would be for the Government to ban all chit fund and fund collections systems which are not approved by an established authority. Like IRDAI for insurance business more  
There is a company called RTSCPL, run by Mirah Group under the director-ship of Mr. Omprakash Goenka in Mumbai, which has also collected crores of rupees from people of Mumbai, Thane, Navi Mumbai by assuring attractive interest on deposits. Now, the company has stopped giving interest and even not refunding the principal amount after the maturity. There was a news about it in DNA, the link for which is pasted below: http://www.dnaindia.com/mumbai/report-all-that-twinkles-is-not-guaranteed-returns-2261727 Really don't know how to recover money from such frauds. more  
Government should pass a law that all chit fund/ponzi schemes must get registered with a government set up before starting operations. more  
Considering the very wide spectrum of the public across the nation and considering everyone is interested to safely invest where the return is higher, it becomes mandatory for the government to allow only entities who have obtained approvals from all authorities and the government has specifically verified that it is not a Ponzi scheme. Government must therefore take the responsibility on itself, make adequate laws and enforce them to prevent any PONZI scheme. more  
Post a Comment

Related Posts

    • Teach Canada a tough lesson

      A respectable move by India to expel Canadian diplomat after Canada suspended an Indian. Diplomat and allegated that India killed a canadian khalistani on canadian soil. I would take extra steps to...

      By Aditi Gupta
    • Roadside Assistance Numbers

      Road side assistance contact numbers during an emergency: Maruti Suzuki: 1800 102 1800 Hyundai: 1800 102 4645 Tata Motors: 1800 209 8282 Mahindra: 1800 209 6006 Toyot...

      By Seema Mehra
    • सावधान इस ATM फ्रॉड से

      एक नये तरीके का ATM फ्रॉड सामने आया है. चोर पहले ATM को हाथों से खींचकर खोलते हैं, फिर कार्ड रीडर में छेड़छाड़ करते हैं. इससे जब कोई शख्स मशीन में ATM कार्ड डालता है तो वो मशीन में ही गि...

      By Ajay Kumar
    • China says Arunachal belongs to them

      China releases 2023 edition of its “standard map” attached incorporating disputed areas, including its claims over Arunachal Pradesh, Aksai Chin region, Taiwan & the disputed South ...

      By Ajay Kumar
    • Men should get ready for harassment under section 69

      "Misuse" is written all over this section in the new law, utterly poorly drafted, and a goldmine for scamsters (in this case, fraudulent women). And - this will seriously erode men-women relationsh...

      By Sobhita D
    • Lifts maintenance continues to be major issue

      Lucky escape for two children on 27th. Elevator comes crashing down from 10 floor of a residential apartment in Pune after its wire breaks. See attached. Till the central govt makes lift...

      By Shikha Chhabra
    • Manipur Riots must watch to understand politics

      Must watch interview of Paolienlal Haokip, Kuki BJP MLA from Manipur, speaking about his party leaders in Central and State Government in the ongoing Manipur violence.

      By Neelam Bose
    • President Rule in Manipur needed

      Along with immediate termination of the term of the Chief Minister of Manipur is the need of the hour. We want Modi ji and Amit Shah ji to take immediate action. A man who sa...

      By Naina Mittal
    • Educated Girls - Two perspectives

      Below are two perspectives in educated girls. Which one is right in your experiences? The educated girls perspective: Many marriages are breaking because: -Educate...

      By Ruchika Mistry
    • Coaching Center Fire certification

      Attached is the rescue from a coaching center in mukherjee nagar in Delhi which caught fire. A friend’s son goes there. A year back it had happened in Surat. Where children lost l...

      By Shivani Batra
    • Watching television while driving

      Increasing number of taxi drivers and private cars are installing television in cars like the attached taxi image. Problem is when drivers watch ipl or movie while driving and get into ...

      By Garima Sharma
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)