I think MLM in India is in trouble to some extent if not facing outright ban. Corporate Frauds Watch has unearthed another dream building freedom fighters company called NMart. I read on the web that its has closed down its operations in states like Karnataka and Andhra Pradesh. A few of my friends who are active on Facebook were in discussion about the same matter where they mentioned how they had close shave even though did not end up losing money. NMart seems to be more active in northern states of India wherein they could cheat more people as not everyone knows about what’s going on in southern part of India. I am really happy for Mr Shyam Sundar for unearthing so many MLM racketeers and I recommend all the readers of this blog to visit Corporate Frauds Watch website.
Meanwhile, another MLM crap company I never went close to was Monavie, yet another set of dream builders. They seem to have similar models as Amway does but even more expensive products with only health drinks. There also you have PV and pin levels and some certifications wherein you can achieve financial freedom. Most of the time Ambots shouted about the growth story of Amway and I do not know when the government will crack down on all these dream builders. I know so many people of are young, rich and free through these Ponzi schemes, Deccan Chronicle quoted Monavie collected hefty 11.79 crores possibly in the name of building your financial future. Of course I read somewhere that irrespective of how many ever cases are filed against MLMs every individual is most likely to fall prey to MLM once in his life. This helps all the MLM racketeers to continue making money. I now realise Amway products are so expensive that, they sell at the price equivalent to five to ten years ahead in terms of time value of money. Monavie health drinks are even more expensive and only they can explain the necessity of those drinks for anyone.
I also heard that, government is going to come up with stringent laws in India to curb MLM frauds such as Speak Asia, Japanese Magnetic Bed, RMP and RCM, now NMart and Monavie. Not sure when will Amway join the list. All the best dream builders 🙂