The other day the CMD of Amway India Enterprises in an interview to a nitwit Indian journalist with straight face lied that the Amway India is not a chit fund company but an FMCG. What a laughable statement!
The CMD, Mr William Pinckney, has conveniently skipped the issue about the business model of Amway.
The Andhra Pradesh High Court has rightly pointed out that Amway's business model is illegal in its judgement in 2007.
The Honourable High Court stated, "It is, thus, evident that the whole scheme (of Amway India) is so ingeniously conceived that the inducement for aggressive enrollment of new members to earn more and more commission is inherent in the scheme. By holding out attractive commission on the business turned out by the downline members, the scheme provides for sufficient inducements for its members to chase for the new members in their hot pursuit to make quick/easy money."
When a batch of criminal cases were filed against the fraudulent company under Section 2 (c) of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, it meant that the company is indulging in illegal business activity of money circulation scheme not under prize chits.
The High Court also stated, "Thus the two ingredients are satisfied in the case of promoter (Amway India) too. We are, therefore, of the considered view that the scheme run by the petitioners squarely attracts the definition of “Money Circulation Scheme” as provided in Section 2(c) of the Act. (Para 35).
In spite of the clear judgement, the CMD has the gall to state that his company was not a chit fund company. Anyway who said that Amway India is a chit fund company.
It is a product-based money circulation scheme company.
It is high time people realised the dubious claims of the company and fall prey to its misleading propaganda.
Crooks say many things but how could a journalist take them for granted. The journalist should have checked for the criminal cases against the company. The journalist should have asked the police officials who filed criminal cases.
For reasons better known to them these journalists forget the basic tenets of journalism - Question.
The CMD, Mr William Pinckney, has conveniently skipped the issue about the business model of Amway.
The Andhra Pradesh High Court has rightly pointed out that Amway's business model is illegal in its judgement in 2007.
The Honourable High Court stated, "It is, thus, evident that the whole scheme (of Amway India) is so ingeniously conceived that the inducement for aggressive enrollment of new members to earn more and more commission is inherent in the scheme. By holding out attractive commission on the business turned out by the downline members, the scheme provides for sufficient inducements for its members to chase for the new members in their hot pursuit to make quick/easy money."
When a batch of criminal cases were filed against the fraudulent company under Section 2 (c) of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, it meant that the company is indulging in illegal business activity of money circulation scheme not under prize chits.
The High Court also stated, "Thus the two ingredients are satisfied in the case of promoter (Amway India) too. We are, therefore, of the considered view that the scheme run by the petitioners squarely attracts the definition of “Money Circulation Scheme” as provided in Section 2(c) of the Act. (Para 35).
In spite of the clear judgement, the CMD has the gall to state that his company was not a chit fund company. Anyway who said that Amway India is a chit fund company.
It is a product-based money circulation scheme company.
It is high time people realised the dubious claims of the company and fall prey to its misleading propaganda.
Crooks say many things but how could a journalist take them for granted. The journalist should have checked for the criminal cases against the company. The journalist should have asked the police officials who filed criminal cases.
For reasons better known to them these journalists forget the basic tenets of journalism - Question.