Govt clamps down on down line marketing
Source: The Sangai Express
Imphal, May 17 2011:
Following the hue and cry raised by lakhs of investors, who have been duped of their hard earned money by dubious fly by night operators, who enticed them to deposit their money with the assurance of high rate of interest every month and which follows the pyramidical scheme/down line marketing system, the State Government has issued a ban on the activities of all such marketing companies.
An order to this effect has already been issued by the State Government and without naming any company in particular, the order made it clear that the marketing gimmicks of such companies have led to the loss of huge amount of money, thereby creating tension and bad blood amongst the people.
The master minds of such dubious companies stay at places like Bangkok, Malaysia, Pattaya, said the order and added that henceforth, activities of all such companies stand banned under certain laws of the Government.
The Government's order comes close in the wake of the uproar raised by a large number of people, who had invested their money in marketing schemes like Visarev, Unipay2, etc.