The situation back in India makes me cringe since one of the perpetrator has taken to facebook to threaten people writing about him. There are hardly any negative posts left about him and this meant only one thing – Someone offshore has to take this forward.
It started off as a company that sells “software” according to their ex recruits, who chose not to be named. They sell hosting and other website building tools but as per our source less than 10% of people involved made any money out of the “tools” they purchased. The target base were high school & college goers who were trying to make a quick buck. Many people earned, including our source but it was purely based on getting people to join in. There were bizarre practices like greeting each other with “Wish you success” and barking “Jai corporate” like rabid dogs at every meeting and also as comments on every negative blog post about the company.
Currently, one of the founders has turned to “diamond” business and most of the details are obscure. There seems to be a rift within the founders and things remain unclear.
There are several blogs that have written about this company like this one where the previous website was registered to a Kathmandu address apparently by an individual called Diwakar Dhyani who was leading the company but has since shifted to a diamond business which has since been busted by the FBI. GemKonnect made an excellent post about his activities over here and claims that he is on the run currently and is supposedly hiding in Nepal fearing legal action.
He has also made the following threat post on Facebook against anyone writing the truth about him:
Under no pressure will Techzei budge from writing the truth, We are preparing ourselves for any outcome and have full faith in the American Judiciary in case of a law suite.
The other founding member, Rahul Walia, has also moved to other ventures. Here is a picture of him in a meeting with his recruits.
CIPL continues to be run by Pramod Jassoria along with people like saurabh gupta but it is now upto the Law Enforcement to investigate further.
This is another such company running a multi level marketing scheme. Reported to be run by an ex eBiz recruit going by the name Mohit Sardana.
Unlike other such schemes, Sarso has a website where they sell actual products – a very good idea to evade the law enforcement.
In all honesty, we were shocked and tired at the ease at which these people run such companies conning thousands of youth facing no legal hurdles. We did not dig much into Mohit Sardana but we can confirm he was a part of eBiz (which is another MLM scheme that is still running) and is running his empire with a free hand while the authorities turn a blind eye to it.
but why do people fall for this?
Money. Greed. Stupidity. The ex-recruit claims that the target group for them were either high school students or college goers. Meetings were set up at various cafes and usually a higher tier member was roped in when it got difficult to sign up a potential recruit. Not just young guys, even girls were targeted in this scheme.
People are literally convinced into joining by giving false hopes like “Do you want to be a millionaire at a young age” and so on. We watched a few videos of it on youtube and trust me, we couldn’t cringe more.
Our source confirms that the only way to make money would be to sign up new members, this often led to pressurizing friends & family to join.
What is a Pyramid Scheme (also known as MLM Scheme)?
The classic red flag of a Pyramid scheme is when someone who is looking to “hire you” tells you you need to “invest in your future” or that you have to “spend money to make money.” The days of a recruitment pyramid scheme are falling to the past because people have caught on to the premise of basically investing in nothing. So nowadays to keep it legal, Pyramid schemes have to offer some kind of tangible thing which is usually something pretty petty or worthless / has marginal value. Basically what this is is a system where one person at the top recruits a bunch of people who invest in something and they only see a return by getting more people to invest in it through them. The closer to the top of a pyramid someone is /the more people you have beneath you, the more money you make.
What is the Indian law enforcement even doing?
Ponzi schemes are as old as the Nigerian prince emails, yet there are people who keep falling for it – thanks to greed. In case of Corporate Infocom, Diwakar Dhyani is not even an Indian but was never apprehended by the Indian authorities even though he flourished with the ill gotten wealth by conning thousands of middle aged Indians. All his websites are still up, including the one of his diamond company – the sites are registered to the capital of India. If his Facebook post is to believed (which is not something we would want to) the Indian authorities are actually clamping down on people writing about him.
Like our Indian correspondent says “Corruption, corruption & more of corruption”
If you’re still not convinced, check out this week’s Last Week Tonight with John Oliver on how dangerous these pyramid schemes are.