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ED Attaches Assets Worth 757 Crores To Amway; Firm Accused Of Marketing Scam | Breaking News
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April 18, 2022
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3:28Now PlayingThe Enforcement Directorate has provisionally attached assets worth Rs. 757 crores belonging to Amway India enterprises in money laundering case. The company is facing accusations of running multi-level marketing scams. The attached assets include land and factories, plant and machinery, vehicles, bank accounts, and fixed deposits at Amway. The immovable and moveable properties are worth Rs. 411.83 crore out of the total of Rs. 757.77 crore, while Amway's bank balance is Rs. 345.94 crores from 36 separate accounts. The ED said in its investigation that Amway was operating a pyramid scheme under the cover of a direct selling multi-level marketing network. Most of the company's products are found to be exorbitantly priced when compared to similar popular products from reputable manufacturers accessible on the open market. Keep watching to know more!
#ED #Amway #Enforcement Directorate
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