"Pyramid Fraud": Rs 750 Crore Of Consumer Goods Seller Amway India Frozen
NDTV
The Enforcement Directorate accused Amway India of running a multi-level marketing "scam" where it focused on signing up new members so that senior staff could earn commission.
Assets worth over Rs 757 crore belonging to direct-selling consumer goods company Amway India have been attached under the anti-money laundering law, the Enforcement Directorate said on Monday.
The provisionally attached properties of Amway India Enterprises Pvt Ltd. include land and factory building at Dindigul district in Tamil Nadu, plant and machinery, vehicles, bank accounts and fixed deposits, it said in a statement.
Attaching a property means it cannot be transferred, converted or moved.
Amway India is yet to respond to the charges.
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