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.

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“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.