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Moneycontrol has found that the app channels money to several bank accounts and makes it nearly impossible for users to withdraw their money from the gaming wallet.
The Enforcement Directorate (ED) on April 19 accused Amway India of running a “multi-level marketing (MLM) scam” and attached its assets worth Rs 757.77 crore. This is not the first time that Amway India has been accused of running a ‘pyramid scheme’. Read on to understand how direct selling is different from pyramid schemes and why has the ED attached Amway India’s assets?
"The use of Bitcoin, a hypothetical currency, is increasing at a rapid speed in India as well as in the world. Experts have expressed concern that Bitcoin is a pyramid ponzi type scheme," Kirit Somaiya said.
Companies accused of aiding Bernard Madoff's vast pyramid scheme have agreed to pay more than USD 1 billion to settle a fraud lawsuit, the trustee charged with recovering Madoff's funds said today.
