Hyderabad: Man held for scamming people
Accused, a teacher, amassed Rs 2.5 crore in 1 year.
Hyderabad: Probing into the Rs 3,000 crore scam allegedly involving Future Maker Life Care Ltd, the Cyberabad Economic Offences Wing has arrested a teacher from Madhya Pradesh, who had reportedly amassed Rs 2.5 crore by luring innocent persons to take up membership of the company and purchase its products.
The accused, Kailashchandra Arya, 50, a teacher by profession, had lured about 60,000 illiterates from rural areas in Madhya Pradesh to join the multi-level marketing scheme of the company.
Cyberabad police commissioner V.C. Sajjanar said “Kailashchandra was working on the instructions of company owner Radheshyam and conducting meetings for the public at star hotels across Madhya Pradesh. He had lured over 60,000 members of the public to join the MLM scheme and purchase their products. He has earned about Rs 2.5 crore since February 2017, towards commission.”
The company has duped around 60 lakh customers across the country on the pretext of providing high returns for investing in the company and purchasing their products. The fraud committed by the company has totalled to about '3,000 crore said the commissioner.