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Ebiz company owners arrested for fraud

Date: 23 August 2019 Tags: Miscellaneous
  • The Managing Director of multilevel marketing company eBIZ and his son were arrested by the Hyderabad Police for allegedly cheating thousands of people, including students and unemployed youths, to the tune of 5,000 Rs. crore nationwide.
  • The company targeted youngsters with their scheme.Initially, a member joins the scheme by paying Rs.16,821 . After this, the member receives 4 per cent commission if he/she brings other persons to the forum.
  • They also lured students claiming that their money invested in the company's account would be given back in double figures after a month.