Thursday, 25 December 2014

AP CID attaches properties of NMart

Andhra Pradesh Crime Investigation Department has attached the movable and immovable properties of Surat-based New Look Traders also known as NMart. The fixed deposits Rs. 2.61 crore parked in various banks throughout the country and immovable properties situated in Surat, Gujarat worth about Rs. 9.27 crore have been attached by the CID.
It may be recalled that following a complaint lodged by Vijayawada-based Corporate Frauds Watch, the then superintendent of police of Prakasam District Dr Kolli Raghuram Reddy registered a criminal case against the NMart for indulging in illegal money circulation scheme offering huge returns in a short span of time.
The police have also frozen the accounts of NMart at that time. The chairman of NMart, Gopal Singh Shekhawat, was arrested and thrown behind bars. The Prakasam police have also identified the immovable properties belonging to Gopal Shekhawat in Surat and other places after freezing the bank accounts in various banks throughout the country.
The NMart has mobilised deposits from people of various districts in the then undivided State of Andhra Pradesh and all over the country too. After enrolling members into the scheme by collecting Rs. 5,500 per member, the NMart also induced them to enrol more members into the scheme with an incentive of Rs. 200 per member.
Subsequently, the case was transferred to the CID for further investigation. 

The CID officials attached the properties which would be subsequently auctioned and deposited with the government. 

Monday, 14 July 2014

Glaze Trading India aka GALWAY takes unemployed youth for a ride

In what could be described as the copycat of Amway, Glaze Trading India aka GALWAY, started its cheating operations throughout the country. At least 10,000 youths from all over the two States of Telangana and Andhra Pradesh have already been cheated by this fraudulent company according to series of visuals telecast by TV6 Telugu news channel.
The news channel exposed the dubious ways of this company which has been inducing youths with job opportunity with a monthly salary of Rs. 50,000. However, they were asked to pay Rs. 8,000. After reaching their office in the state of Jharkhand, they were asked to enroll at least four members each to earn unlimited income. Then they realised that they were deceived.
The youths were asked to stay in a dungeon and they were hardly given any work though they were promised to undertake bar-coding, creating e-mail IDs and other works. Dejected, these youths returned to their places. 
A glance at its website, shows that it also sells products of Homecare, personal care etc. Not only that they also sell products for farming like G-PSEUDO+ G-DERMA+ G-SEAPOWER, soil conditioner. Anyway one should appreciate the sense of humour of these fellows. They openly claim it is 'pseudo' and selling. Don't ask what 'derma' has to do with biofertiliser. 
Behind all the product sales under direct selling mode, the real cheating is illegal money circulation scheme. This is how Amway has been inspiring many a crook to indulge in illegal money circulation schemes in the name of direct selling.

Wednesday, 2 July 2014

Cops tracking ‘Diamonds’ of Amway

Hyderabad: The top police officials of the two States of Andhra Pradesh and Telangana have launched a massive hunt to track down the ‘Diamonds’ and other members of Amway India Enterprises to make sure their role in the multilevel marketing scam of the US-based company.
Amway India Enterprises

According to informed sources, the police of both the states are even sharing information regarding the list of upline members in the hierarchy of Amway India Enterprises, who share commissions on purchase of products by the downline members. The sources said that in the business model of Amway, the upline members who enroll new members into the scheme of purchasing products received sizable income which was nothing but easy and quick money. “Once the list of the ‘Diamonds’ is prepared and their income on commissions is confirmed, we go ahead with arresting them also,” the source said.

Meanwhile, the police on Monday arrested the MD and CEO of Amway, William S Pinckney, who is presently in Charlapalli Jail and presented him in the judicial court which sent him to remand for 14 days. The MD was sent back to Charlapalli Jail. It is learnt that the police would file a petition in the court seeking custody of Pinckney for interrogation to take the criminal case against him to a logical conclusion.

A police official said that the law would take its own course and charge sheets would be filed soon in the criminal cases against Amway India. In another twist to the criminal case against the MD of Amway, the High Court did not issue any orders on the petition filed by Amway India to exempt its managing director Pinckney from surrendering the passport to the police department. However, the passport surrender order issue has become an impediment for the release of Pinckney on bail.