Hyderabad man held for duping people in online MLM scheme
Over a period of time, Madhusudhan convinced several poor people to join the company
Hyderabad: The Telangana Crime Investigation Department on Tuesday arrested a man who allegedly lured people into joining an investment scheme running the online Multi Level Marketing Scheme.
The arrested T Madhusudhan, a resident of Ghatkesar initially invested an amount of Rs 2.20 lakh in a company Fanuc India. After getting some profits, he stumbled upon the idea of introducing more people to the company in exchange for a commission offered by the company.
“Over a period of time, Madhusudhan convinced several poor people to join the company. Believing him, many people invested money and suffered losses,” said DG , CID, Shikha Goel.
The man was produced before the court and remanded.
