Tuesday, December 5, 2023

Govt moves to lay down rules

MLM Swindle Govt moves to lay down rules Draft bill goes to cabinet today The government will enact a law to clamp down on multi-level marketing (MLM) companies, such as the Destiny Group, which are blamed for swindling people out of their money with their controversial marketing system. The law will ban the so-called pyramid schemes ... Read more

MLM plundering money of commoners: ACC chief

Chairman of Anticorruption Commission (ACC) Golam Rahman on Wednesday termed the Multi Level Marketing (MLM) companies as plunderers.“Plundering of money is going on across the country in the name of MLM business. They are involved in money laundering. The activities are being carried out to make commoners pauper

Marketers of greed reign supreme

Star finds many multilevel companies not making headlines, silently swindling fortune-seekers before vanishing abruptly Shady multilevel marketing (MLM) companies are cheating people across the country by offering them double return on deposits in less than a year, high monthly returns and huge profits from product sales. These companies rent top-class office rooms and create eye-catching ... Read more

Destiny challenges central bank report

Files petition with HC; sues 4 newspapers for Tk 5,000cr compensation Destiny Multipurpose Cooperative Society Ltd yesterday filed a writ petition with the High Court, challenging the Bangladesh Bank report that said the company had been doing illegal banking. Md Rafiqul Amin, chairman of the cooperative and also Destiny Group, lodged the petition, seeking a ... Read more

Questions over sister concerns

Destiny Under Scanner Questions over sister concerns NBR asks banks to turn in accounts, transaction details The controversial multilevel marketing (MLM) company Destiny hoodwinks people by adding to its group portfolio some companies that exist only on paper. For instance, among its 37 sister concerns listed on the website is Destiny Life Insurance Company. Although ... Read more

MLM: is it a scam?

Multilevel marketing or MLM has become a serious source of debate. Although MLMs are intrinsically unstable and only guaranteed by design to oversaturate the market, thousands of people are running after it. Most of the times, the only money to be made is not from the product or service but from the

Into the heart of MLM

Multi-level marketing or MLM is a constant source of debate. MLM companies have their fanatical devotees and often appear to behave in an aggressive manner. Some of them reach dizzying heights, often to fall. The issue came to the surface again, after Destiny Multipurpose Cooperative Society Ltd, a unit of Destiny Ltd, hit the media ... Read more

Tough act to control MLM business in the offing

Direct sales law in a month: Faruk Khan The government is going to enact a tough law barring Multi-Level Marketing (MLM) companies from running the business of immovable properties like lands, buildings, smuggled goods, extreme fundamentalism books and office spaces. Besides, proposed law will restrict MLM companies conduct buy and sale of 21 products. The