The Hindu : Andhra Pradesh / Hyderabad News : CID cautions people against money-making schemes

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Friday, Jun 10, 2011
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Andhra Pradesh

Andhra Pradesh - Hyderabad

CID cautions people against money-making schemes

Staff Reporter

HYDERABAD: Additional Director General of Police (Crime Investigation Department), S.V. Ramana Murthy, has cautioned people against investing in the companies promoting multi-level marketing and money circulation schemes.

In a statement issued here on Thursday, the Additional DGP suggested people to inform about such companies directly to the CID or police officers at district level and in cities for taking up necessary inquiry and timely action as per law. There were many instances, of late, of such schemes coming into the public domain inviting membership/investment from people on the promise of high returns.

Gullible victims

Though the companies operating such schemes did not have any permission from the Reserve Bank of India they were cashing-in on the ignorance of the gullible people. He cited booking of cases against Happyway Network Sales Private Ltd and Amway as examples of people getting deceived in lure of high returns and easy money. Though the schemes would appear profitable initially they loot the hard-earned money in the long run, he warned.

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