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Korvio-Voscrow-Hypernext Accused Denied Bail: HC Cites Rs 500 Crore Investor Loss, Main Accused Still at Large

The Himachal Pradesh High Court denied bail on April 30 to a man accused in the Korvio-Voscrow-Hypernext cryptocurrency MLM fraud involving more than 80,000 investors and around Rs 2,000 crore in collected funds. Justice Sushil Kukreja was blunt about why: economic offences at this scale don’t just hurt individuals — investigators say Rs 500 crore of investor money has vanished, and the court…

CBI Arrests GainBitcoin's Tech Architect at Mumbai Airport

Ayush Varshney was trying to board a flight to Sri Lanka when immigration officials stopped him at Mumbai’s international airport on March 10, 2026. A Look Out Circular had been issued after he ignored repeated CBI summons. He’s the first person from Darwin Labs — the tech company that built GainBitcoin’s infrastructure — to be arrested. The scheme itself collapsed in 2017. That’s a nine-year…

#Crypto Scam

Navigating the Maze of MLMs in the Beauty Industry: What You Must Know

MLMs, those multi-level marketing setups that promise financial freedom, have firmly entrenched themselves in the beauty business. Here, distributors not only vend products but also rope in others to sell them. The appeal? The belief that beauty products are an effortless sell, beckoning to a vast market. Yet, behind the glittery façade lie substantial challenges when it comes to MLMs in beauty.…

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Elfin E-com's Absconding Executive, Involved in Multi-Crore Fraud, Apprehended

Unregulated MLM Schemes: Alleged Multi-Crore Fraud by Company Targets Public Elfin E-com’s Absconding Executive Arrested: SIT Cracks Down on Multi-Crore Fraud A breakthrough in the investigation led the State Economic Offences Wing (EOW) Special Investigation Team (SIT) to apprehend Raja, also known as Alagarsamy, a senior executive of Elfin E-com. The company stands accused of orchestrating an…

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QZ Asset Management Executes Full Exit Scam; Website Unreachable

The QZ Asset Management website has recently been taken offline, signaling the downfall of the notorious “SEC audit” exit scam perpetrated by this Ponzi scheme. Additionally, the social media accounts associated with QZ Asset Management have been removed from public view. QZ Asset Management emerged onto the scene in late 2022, enticing investors with promises of a remarkable 400% return on…

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#Africa investors #Chinese scammers #Cryptocurrency scam #Exit scam #Financial losses #Fraudulent NASDAQ listing #MLM fraud #ponzi scheme #QZ Asset Management #SEC audit

IIT Kanpur Student and 5 Others Arrested in Thane for Cryptocurrency Fraud

In a recent development, authorities have successfully apprehended six individuals, including a student from the esteemed Indian Institute of Technology (IIT) Kanpur, for their alleged involvement in a significant cryptocurrency fraud case in Thane. The arrest marks a noteworthy milestone in the ongoing efforts to combat fraudulent activities within the cryptocurrency domain. This article aims to…

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Enforcement Directorate freezes 36 bank accounts with over Rs 90 crore in inspections at direct selling firms Qnet in Mumbai, Bengaluru, and Chennai

The Directorate of Enforcement (ED) conducted searches at various locations in Mumbai, Bengaluru, and Chennai on Wednesday in relation to a money laundering case involving M/s Vihaan Direct Selling India Private Limited, which is the master franchisee company of M/s Qnet Ltd in India. During the searches, the ED froze a total of 36 bank accounts belonging to various companies, individuals, and…

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Top 5 Fastest Growing MLM Companies in India 2023: Vestige, Amway, Herbalife, Forever Living, and Modicare

Network marketing is a way to earn extra income in one’s free time, without any prior knowledge or experience. Network marketing, also known as direct selling and multi-level marketing (MLM), is a pyramid-style marketing strategy in which a product is sold by a chain of individuals rather than in a physical store, and these individuals earn commission on the products or services they sell, with…

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Gautam Bali: The Successful CEO Behind Vestige Marketing Private Limited's Growth

Gautam Bali: The Successful CEO Behind Vestige Marketing Private Limited’s Growth

Gautam Bali is the CEO of Vestige Marketing Private Limited, a leading direct-selling company in India. With over 18 years of experience in the industry, Bali has played a pivotal role in the growth and success of Vestige. Under his leadership, the company has expanded its operations to more than 15 countries and has a network of over 15 lakh independent distributors. A Look at the Successful…

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Direct Selling in India: An Overview of the Industry and its Regulatory Framework

Direct selling is a business model in which products are sold directly to consumers, usually outside of a fixed retail location. This business model has gained popularity in India in recent years, with many companies choosing to adopt it as a way to reach out to customers and sell their products. The direct selling industry in India is regulated by the Direct Selling Guidelines 2016, which were…

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#Direct Selling Guidelines 2016 #Direct selling industry in India #Disclosing information to consumers #Ensuring compliance with guidelines #Ensuring fair business practices #Improving the image of the industry #Maintaining proper records #Minimum capital requirement #Preventing fraud and misrepresentation #Promoting ethical conduct #Protecting consumer interests #Protecting the interests of companies #Registering with Central Government #Regulatory framework in India

Co-founder of $4B OneCoin fraud scheme pleads guilty and faces up to 60 years in jail

The co-founder of OneCoin, a fraudulent cryptocurrency scheme, has admitted guilt to several charges brought by the US Department of Justice (DOJ) and now faces up to 60 years in prison. Karl Sebastian Greenwood pleaded guilty to counts of wire fraud, conspiracy to commit wire fraud, and conspiracy to launder money, each of which carries a maximum potential sentence of 20 years in…

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#Bulgaria #Conspiracy to commit wire fraud #Conspiracy to launder money #FBI&039;s most wanted list #Fiat money #Karl Sebastian Greenwood #multi-level marketing #ponzi scheme #pyramid scheme #Ruja Ignatova #US Department of Justice #Wire fraud #Xcoinx exchange

Investors Duped Out of INR 200 Crore after Being Lured by Endorsements from Actresses Tamanna and Kajal Agarwal

According to reports, thousands of people in India have fallen victim to a large-scale scam by a company called Hashpe. The victims claim that they were promised INR 3 lakh ($4,000) within 300 days in return for an initial investment of INR 1 lakh ($1,335). However, when they attempted to collect their earnings, they discovered that they had been cheated. It is estimated that around 5,000…

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MLM Scams in India: How to Spot and Avoid Them

Multi-level marketing (MLM) is a business model in which a company sells its products through a network of independent distributors, who earn commissions based on their sales and the sales of the distributors they recruit. While MLM can be a legitimate and profitable business opportunity for some, it has also been the subject of controversy and criticism in many countries, including India. One…

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Vestige To Launch PETA certified 100% Vegan Assure Natural Range

India’s homegrown MLM company Vestige Marketing Pvt. Ltd., and also the only Indian company in the world’s top 30 direct selling companies has expanded its personal care category into the natural personal care segment. The newly launched brand is Assure Natural.

After achieving immense success following the initial launch in August, the company has launched six more new products.

These…

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Ranga Reddy: Multi-level marketing fraudsters loot 15 lakh from woman

Cyberabad police on Wednesday cautioned that the Multi-Level Marketing (MLM) fraudsters back in the market with new modus operandi. Owing to the easy trap methods into Multi-level marketing frauds, the fraudsters have always returned to trap vulnerable people.

The most important fact about this fraud system is the new techniques adopted by the fraudsters to get into the minds of their probable…

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Enforcement Directorate (ED) attaches assets of 'bike bot' MLM Ponzi Company worth 103 crores

Enforcement Directorate (ED) attaches assets of ‘bike bot’ MLM Ponzi Company worth 103 crores

Bike Bot taxi service MLM Company is accused of duping about ₹3,000- ₹4,000 crores from 2.25 lakh investors

The Enforcement Directorate (ED) on Monday issued an order to attach ₹103 crores moveable and immovable assets belonging to the Noida ‘bikebot‘ Ponzi scheme.

There are 26 immovable properties with net worth ₹101.45 crores, and bank balance of ₹2.28 crore in 22 accounts. The case is being…

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#Bike Bot taxi service

Indian Direct Selling/MLM Companies rises as top performer among Asia Pacific Companies

These are great signs for Indian Direct Selling companies, and we are now hopeful that India will find a place in top 5 direct selling markets much earlier than the previous estimates of a decade

India has moved to the 15th spot in the global direct selling markets for the year 2019, up from 19th position a year before as per the WFDSA Global Statistics 2019released recently. The information…

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#Direct Selling #Indian Direct Selling Association’s (IDSA)#Indian Direct Selling companies #Rini Sanyal #World Federation of Direct Selling Associations (WFDSA)

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