Authorities in New Delhi have shut down the Future Maker Life Care pyramid scheme in 2018.
Administrators Radhe Shyam and Bansi Lal have been arrested. The Enforcement Directorate is now pursuing felony fees towards them.
Shyam and Lal have been charged underneath the Prize Chit and Cash Circulation (Banning) Act. They stand accused of selling Future Maker Life Care, along with cash laundering.
The important thing accused Radhe Shyam and Bansi Lal of Haryana had duped the harmless individuals in guise of MLM and selling numerous Ponzi schemes in lots of elements of the nation by their corporations Future Maker Life Care and FMLC International Advertising.
The MLM scheme consisted of the pyramidal construction the place the individuals on the prime of the pyramid acquire on the behest of the loss borne by the individuals on the base of the pyramid.
The ED imagine there are round 3.1 million FMLC International victims. To this point they’ve managed to get better Rs. 2.6 billion ($35.8 million USD).
Whole FMLC International sufferer losses are unknown.