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Old 6th February 2017, 10:26   #106
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Default Re: Anyone into multi-level marketing?

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Originally Posted by TorqueyTechie View Post
... Today I spoke to them and they have lost close to 3 lakhs.
3 lakhs per person? Wasn't each person supposed to invest only Rs 57000?

A news article on Hindustan Times states that they stopped paying money that was promised to the investors. I am not sure why they did that, when they were making such a lot of money. So this is a case of Section 420 it seems and nothing to do with a flaw in MLM, correct?
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Old 6th February 2017, 10:49   #107
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Default Re: Anyone into multi-level marketing?

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Originally Posted by S_U_N View Post
3 lakhs per person? Wasn't each person supposed to invest only Rs 57000?

A news article on Hindustan Times states that they stopped paying money that was promised to the investors. I am not sure why they did that, when they were making such a lot of money. So this is a case of Section 420 it seems and nothing to do with a flaw in MLM, correct?
Actually I meant to say that both my friends together have lost around 3lakhs. yes they had to invest 57000 per person. But they also enrolled their spouse as well as their siblings in the scheme.

I think the scheme works as long as you get more capital coming in from new people joining in. Once the number starts to dwindle the payout also starts to reduce. But there are lot of supporters for this scheme still and one of my friend who has lost money is still supporting him. It seems that the guy, Mr.Mittal has said that he will come back strong and there is nothing wrong in what he is doing.
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Old 6th February 2017, 14:05   #108
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Default Re: Anyone into multi-level marketing?

The lure of a quick buck is as old as humanity, impossible to cure.

Plenty of acquaintances and extended family are neck deep in one or the other of these 'get rich without moving an inch' schemes. My stance is simple, they're welcome as long as they leave their 'this is a swell business' rhetoric outside the door. Some good relationships ruined, but it's upto people to prioritize what they'd rather have, a friend/relative or a sucker for their 'network'.
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Old 6th February 2017, 15:56   #109
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Default Re: Anyone into multi-level marketing?

And as if it was bound to happen.

I raised concern about Social Trade thing on team-bhp just a few days back by raising a new thread which got merged with this one.

I am happy that I didn't fell for this scheme suggested by a friend to invest 57,000 INR!
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Old 10th February 2017, 07:56   #110
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Anyone from Kerala here can shed light on the real estate scheme which lost a lot, something called Apple a day or something. They promised apartments which were sea facing and had a lot of nris invest and turned out they didn't even own the land they promised to build these apartments on. Be careful folks, for every 1000 innocent folks, there is atleast one scammer.
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Old 3rd December 2017, 09:38   #111
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Default Re: Anyone into multi-level marketing?

Thanks to the over friendliness of the Amway folks, I have transformed into a person who would avoid talking to strangers in public place!

Some scenarios over last 1 year:
1. Nandini milk parlour in HSR Layout: I have having coffee and browsing team-bhp and one person asks me directions to Electronic City- saying he is new to Bangalore and has to go to pickup his wife. I give him detailed explanation - genuinely trying to help him. We introduce each other and he said he works in Container Corporation. When came to know that I am an MBA, he asks for my number as he needs some career advise- I give it unsuspectingly. The magic begins - every 3 days he will call ~8PM- and talk about - entrepreneurship, professional circle and some meeting happening in weekend for guidance which will liberate me of all my day jobs. I had to block his number.

2. A LinkedIn connection request from some one who is an IIT Alum and works in General Electric. He pitched me that he is running a startup in mineral processing area and I'd some expertise and he wanted to get guidance. I agreed. We met in Adyar Anand Bhavan. He said he has another startup where he wants me to be a partner. It was about 'Make it big in 5 years', 'retire in luxury in 5 years', 'liberation from day job', 'stop working for others'. I asked whether it is Amway, and he said yes. I'd to foot bill for him as he said he doesn't have cash.

3. I was taking a walk in the Agara Lake Trail last weekend morning. One person stopped me saying he is part of a start-up focussing on health and fitness and wants my responses to 5 questions. I agreed. Then he said his startup also gives advise on fitness and nutrition in 1-many and 1-1 basis. He asked for my number and said he will coordinate this we can achieve 'financial freedom'. I was like NOT AGAIN! I gave him a wrong phone number (Changed some digits) and left. I saw him doing the same to other unsuspecting morning walkers for next 3 days.

4. I was at bank depositing Cheque. A man in nice english requests me for pen. While we wait in queue, he talks how he returned from Dubai and he was brought-up in Dubai. He has returned to help his sister and brother in law for business. He then pesters me for my number so that he can catchup later. I politely asked has he got something to do with Amway - he was shaken up but admitted yes. I said I am sorry.

I have changed as a person I am now ever so cautious of any one approaching me - smiling/friendly face in a public place or social media trying to fleece me whether its LinkedIn or Public Transport or Public Place.

I hate you Amway for misleading folks in name of startup, professional circle, business opportunity.. etc etc.

Last edited by daretodream : 3rd December 2017 at 09:43.
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