Yas Bizz is ‘running a pyramid fraud in the guise of direct selling multi-level marketing network’.
What is Yashbizz ?
Founded in 2018 and based inAhmedabad, Gujarat-, a India-based company, is one of the most famous multi-level marketing in India. It sells FMGC (Famst Moving Consumer Goods) products. The company uses a combination of direct selling and multi-level marketing.
However, Always has landed in similar controversies in the past for running a pyramid scheme Like Amway . Although it has never been allegedly found guilty, but according to several reports, the company had to pay huge sum of money to settle suits globally.
What is a pyramid scheme?
“A pyramid scheme is a sketchy and unsustainable business model, where a few top-level members recruit newer members.
Those members pay upfront costs up the chain to those who enrolled them. As newer members in turn recruit underlings of their own, a portion of the subsequent fees they receive is also kicked up the chain. Often called “pyramid scams,” these operations are illegal in some countries,” according to the website.
In a pyramid scheme, the major profit comes from the recruitment fees rather than the sale of the actual products. Multi-Level Marketing operations (MLMs) are similar to pyramid schemes with one difference: they involve the sale of tangible goods.
The scheme often takes the shape of a pyramid, where there’s one person at the top and the number keeps increasing as more and more people are hired at the base level.
Yashbizz End Bussiness
The agency said that the general public is often induced to become members of the company and purchase products at exorbitant prices and are thus losing their hard-earned money.
“Reality is that the commissions received by the upline members contribute enormously in the hike of prices of the products,” it added, reiterating that the modus operandi of the company is to make people grow richer by taking them as members and not treating them as consumers.
Note – Yashbiz Marketing Private Limited That the products are used to masquerade this MLM pyramid fraud as a direct-selling company. Yas Biz Upcoming scam.