Categories: News

Amway India made illegal earnings of more than Rs 4,000 crore from multilevel marketing scheme: ED – Bollywood Keeda

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.

Rishabh Garg

Share
Published by
Rishabh Garg

Recent Posts

Pakistani bride Javeria coming to India to get married, got visa – Bollywood Keeda

Gurdaspur. After a lot of hard work, a Pakistani bride finally got a visa to…

22 mins ago

CG CRIME NEWS: A young man attacked a student going home from college with a baton, the girl is serious – Bollywood Keeda

Virendra Gahwai, Bilaspur. A case of deadly attack on a college student has come to…

2 hours ago

AI technology will detect illegal parking and garbage spreaders in Delhi – Bollywood Keeda

New Delhi. Artificial Intelligence (AI) will now identify many problems in Delhi including illegal parking,…

2 hours ago

786 cameras will be installed in primary schools of Delhi MCD – Bollywood Keeda

New Delhi , The security arrangements of students in municipal primary schools are being improved.…

2 hours ago

Conspiracy to arrest CM: Bhardwaj – Bollywood Keeda

New Delhi , Ministers, MLAs and other officials contacted people on Monday during the door-to-door…

2 hours ago

Good News! Jio AirFiber reaches 115 new cities of the country, you can enjoy high speed internet without fiber connection – Bollywood Keeda

Jio had introduced wireless broadband service Jio AirFiber on September 19 this year. Now this…

12 hours ago