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India News: The Enforcement Directorate has accused Amway India of running a multi-level marketing operation and siphoning off over Rs 2,859 crore. The agency cla
ED) has attached Rs 757.77 crore properties of Amway India for allegedly floating a pyramid scheme through multi-level marketing.
Amway has been operating a multi-level marketing scheme and money circulation scheme has collected huge amounts from the subscribers, said the FIR.
Amway, an American company that popularised direct sales at a mass level in India, has got into criminal cases related to money-laundering and running pyramid or money-circulation schemes. The Enforcement Directorate has alleged it of promoting a pyramid scheme, ET has reported. The ED has alleged that the company “was running a multi-marketing scheme and money-circulation scheme to collect money from subscribers”.
Amway: The company was promoting an "illegal money circulation scheme under the guise of sale of goods" and "cheating the general public by promising them very high commissions/incentives through simple enrolment of new members and by claiming that these commissions/incentives would continue in perpetuity", ED said.