ED Files Complaint Against Amway India For Cheating Case Of 4050 Crore Rupees

ED Action Against Amway India: The Enforcement Directorate (ED) has taken major action and filed a complaint against the direct selling firm Amway India. This complaint has been filed in the Special Court of Hyderabad under PMLA in the case of alleged money laundering of Rs 4,050 crore. Taking cognizance of this complaint, the court has ordered to take legal action on it by November 20, 2023. This investigation of ED is based on the complaint lodged by Telangana Police and several FIRs against Amway and its directors.

What is the whole matter?

The Enforcement Directorate has accused Amway India of promoting illegal ‘money circulation scheme’ among investors. Along with this, there is also an allegation that under the guise of selling goods, she was defrauding people by promising them higher commission through easy enrolment. In the investigation conducted by ED, it has been revealed that this scheme of Amway India is a pyramid scheme through which the people at the top were getting huge profits. In this scheme, the newly joined member would nominate many more people and it would form a chain. The amount of commission increases as more people join.

The company made Rs 4050.21 crore

ED has found in its investigation that Amway has earned a total of Rs 4050.21 crore through this ‘money circulation scheme’. Along with this, investigation has also revealed that the company has transferred an amount of Rs 2,859 crore to the accounts of investors sitting abroad. In this case, ED has also attached movable and immovable assets of the company worth Rs 757.77 crore. At present, ED investigation is going on in this case.

The company gave this clarification

After the action initiated by the Enforcement Directorate, the company clarified that this matter is related to the complaint of 2011. The company is giving its full cooperation to the ED in investigating this matter and is also providing the details sought by the investigating agency. The company said that it started its operations in India 25 years ago and is committed to all the laws of the country. It has more than 2,500 employees and more than 5.5 lakh distributors across the country. In such a situation, the company will protect the interests of all its people.

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