Wednesday, September 27, 2023

Five-year jail term, fine for MLM fraudulence

Cabinet okays draft law The Cabinet on Monday endorsed in principle the draft of the Multi-Level Marketing Control Bill 2012, stipulating provisions for a maximum of five years’ imprisonment and Tk 50 lakh fine for running such businesses without licence. This was the government’s response to the mushrooming of MLM companies and more and

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

MLM firm swindles 500 customers

Agent flees after collecting Tk 5cr About 500 customers of a multi-level marketing (MLM) company laid seize to the house of its Aditmari upazila representative at Vadai village yesterday after he went into hiding a week ago collecting around Tk 5 crore from them. Jamiur Rahman, agent of online MLM company, persuaded

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