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Multi level marketing scam – Top executives arrested

Cyberabad police has busted and arrested 24 offenders including the CEO, COO of a Bengaluru based company,Indus Viva ,a multilevel marketing scheme.Police stated that the perpetrators have cheated about 10 lakh people with amounts close to  Rs 1500 crore.The bank accounts of Indus Viva Health Sciences Private with about Rs 20 crore amount was frozen.

Among the arrested were Abhilash Thomas, CEO of Indus Viva, managing company’s day to day operations, Prem Kumar, Chief Operating Officer, Mandalanen Subramanyam, director managing taxation & statutory issues and Imdadulla Shariff, vice-president in-charge of operations.CA Anzar, chairman of Olive life sciences and Kuruvila Chacko, director, Indus Viva Health Sciences are on the run.

Cyberabad police commissioner VC Sajjanar states that Indus Viva joins members into its binary schemes with a Rs.12500 fee providing 100 points initially. Members have to join new members to earn bonuses and are told to make more members join.Members are given various fancy designations like Star Distributor, Ruby Executive, Sapphire Executive, Executive Blue Diamond and are offered rewards like laptops and provided five-star hotel stays and tours abroad. A member becoming Black Diamond Ambassador by joining 10,000 members may get  aMercedes Benz, Black Diamond Ring & pendant and one week trip abroad.

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“Women mostly are targeted by these companies with false claims and blatant lies and  are exploited in different ways. The public is advised not to fall prey to these fake chemes offering easy and quick money and advised to take the help of police in such matters,” says the Police. A complainant said that he wasured with an attractive income offer for promoting the company products like coffee, juice, and that he had invested Rs.12,500 but realized that he was cheated by Indus Viva.The case was registered under 406, 420 IPC and the corresponding sections which relate to Prize Chits and Money Circulation Schemes (Banning) Act 1978.

 

 

 

 

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