Four Held In Mumbai Over ₹30 Crore Scam

The Hindu · india

Mumbai Police have arrested four individuals in connection with a ₹30 crore Ponzi and multi-level marketing scheme. The company was illegally accepting investments, including cash, and promising monthly returns of 5-7%. Crucially, they operated without any license or registration from the Reserve Bank of India or the Securities and Exchange Board of India, highlighting a significant financial fraud targeting unsuspecting investors.