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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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