New Delhi. For the past several years, the Enforcement Directorate (ED) has accelerated its work. Action is being taken one after the other by the department. In this sequence, the Enforcement Directorate, taking a big action on Amway India Enterprises Private Limited Company, has attached its assets worth more than Rs 757 crore. The ED has done this on Amway India Enterprises Private Limited Company under the Money Laundering Act. Let us tell you, during the investigation, the ED found that Amway was running ‘pyramid fraud’ under the guise of direct selling multi-level marketing network. Along with this, it has also been revealed in the investigation that the members of the company were adding further members to the list and selling them on paper.
Enforcement Directorate official said this
A top Enforcement Directorate official said that the agents are asked to join the Amway company. After this, those people were asked to buy the goods being sold by the company. They are also told that if they make further members and buy goods after becoming a member, then they will also get its commission.
ED has provisionally attached assets worth Rs. 757.77 Crore belonging to M/s. Amway India Enterprises Private Limited, a company accused of running a multi-level marketing scam.
— ED (@dir_ed) April 18, 2022
According to the information received, according to the principle that the company tells its agents, they will have to use these goods themselves before selling them. That is, those who will become a member of this company first, they will have to buy as well as use the things being sold by the company. The Enforcement Directorate official has also said that Amway’s movable and immovable assets worth Rs 757 crore 77 lakh have been attached. The attached assets include Amway’s land and factory building, plant and machinery vehicles, bank accounts and fixed deposits in Tamil Nadu’s Dindigul district. Earlier, the ED had also attached assets worth Rs 411 crore from 36 different bank accounts of Amway.