New Delhi. Amway India made illegal earnings of more than Rs 4,000 crore through the Multilevel Marketing (MLM) scheme and about 70 percent of it was transferred to foreign bank accounts. The Enforcement Directorate (ED) has booked Amway India Enterprise Pvt. Ltd. in a special Prevention of Money Laundering Act (PMLA) court in Hyderabad. Ltd. Chargesheet has been filed against.
According to ED, the court took cognizance of the prosecution’s complaint on Monday. This entire case is based on several FIRs registered by Telangana Police against Amway and its directors. According to the chargesheet, Amway India attracts more and more people in its business by offering commission on high-priced cosmetic products to lakhs of people across the country through Multilevel Marketing (MLM). ED alleges that the company miscirculated the money under the guise of selling goods. People were lured with commission.
The company earned Rs 4,050 crore through such fraud. The ED alleges that the company sent more than Rs 2,859 crore collected from members in the name of payment of dividends, royalty and other expenses to the bank accounts of foreign investors. In 2022, ED had seized crores of rupees from 36 different accounts of Amway India. ED had attached the company’s immovable and movable assets worth Rs 411.83 crore and bank balance of Rs 345.96 crore.