Dear all
We are the customer of the said fraud company (Daffodils Associates Ltd) lost huge amount of money from this cheater activities, but all government authorities are still silent to arrest these board members. How we expect our safety from government sides.
Here one article published one daily one years back, but still no result.
Ten-day deadline to Assam Government over pyramid schemes
‘Many private financial institutions or companies in Assam have disappeared after cheating people out of their money deposited under pyramid schemes’
By our Staff Reporter
GUWAHATI, Sept 14: The Asomiya Yuva Mancha (AYM) has given a ten-day deadline to the State Government to stop the mushroom growth of private financial institutions or companies that are reportedly cheating people of Assam out of crores of rupees by involving them in pyramid schemes.
AYM secretary general Jitul Deka, while addressing a press conference here today, accused the government of encouraging private financial institutions or companies to “loot” money from the public in the name of pyramid schemes instead of taking action against them. He said, “The AYM has given ten days’ time to the government to control these private companies or financial institutions.”
“Many private financial institutions in the State have disappeared after cheating people out of their money deposited under pyramid schemes. Such institutions are still doing business without any sanction from the Reserve Bank of India (RBI). Chief Minister Tarun Gogoi, Health Minister Himanta Biswa Sarma, Parliamentary Affairs Minister Bharat Chandra Narah and Fisheries Minister Nurjamal Sarkar have issued goodwill messages to financial institutions involved in pyramid schemes, ” said Deka.
Deka said, “Private organizations like Rainbow, Jagaran, Sahajog Plan, Amrit Sagar, VIP, Rose Land, Obiram, Arohan, Sambhab, etc have disappeared from the so-called market after cheating the public out of their money. There are some organizations, including Daffodils Associates Ltd and Phenix Properties Ltd, which are doing pyramid business with the public with support from the government.”
According to Deka, the AYM had filed an RTI petition with the RBI seeking information on whether Daffodils Associates Ltd and Phenix Properties Ltd had got permission from the bank for their businesses. The RBI informed the AYM that Daffodils Associates Ltd and Phenix Properties Ltd were not registered with it. “We (RBI) have not permitted such companies/groups to collect public deposits, ” the RBI told the AYM in its reply.
“If a private financial institution like Daffodils Associates Ltd disappears from the market, will Chief Minister Gogoi, Health Minister Sarma, Parliamentary Affairs Minister Narah and Fisheries Minister Nurjamal Sarkar be responsible for the loss of the money invested by the people in the company’s pyramid schemes? ” Deka asked.
It may be noted here that a pyramid scheme is a non-sustainable business model that involves promising participants payment primarily for enrolling other people into the scheme. Pyramid schemes are said to be a form of fraud. Pyramid schemes have been banned in many countries.
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