{"id":124342,"date":"2015-10-15T01:12:42","date_gmt":"2015-10-15T01:12:42","guid":{"rendered":"http:\/\/151.106.38.4\/2015\/10\/15\/police-warns-public-to-stay-away-from-ponzi-schemes\/"},"modified":"2015-10-15T01:12:42","modified_gmt":"2015-10-15T01:12:42","slug":"police-warns-public-to-stay-away-from-ponzi-schemes","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2015\/10\/15\/police-warns-public-to-stay-away-from-ponzi-schemes\/","title":{"rendered":"Police warns public to stay away from Ponzi schemes"},"content":{"rendered":"<p><img src=\/old_site\/><\/p>\n<div>With hundreds of people from the state being duped of several lakhs of rupees through Ponzi schemes, the police department has cautioned the public to be wary of fake companies and not to fall prey to any enticements offered by them.<\/div>\n<div>In a press release, SP(Crime) &amp;PRO, PHQ, Nagaland, M.Tungoe stated that there were fake companies\/financial institutions\/organisations operating from within and outside the state running many prize chits and money circulation schemes.<\/div>\n<div>Police stated that some of those fake companies operating in Nagaland include Queensberry Foundation, Everlight Realty infrastructure limited\/EverlightRealcon infrastructure limited (ERIL), Progressive Youth Welfare Society, Progressive Youth Thrift and Credit Cooperative Society Ltd etc.<\/div>\n<div>According to police, money circulation schemes were being promoted in the name of Direct marketing (DM), Multi-Level Marketing schemes (MLM), Network marketing (NWM), Referral Marketing, Introduction Marketing, Chain Marketing etc., adding that those schemes were \u201cnothing but camouflaged money circulation scheme (MCS).\u201d<\/div>\n<div>\u201cIn the front end, the promoters display products and services, at the back end, it is nothing but money circulation schemes banned under the provisions of Prize Chits and Money Circulation Schemes (Banning) Act 1978,\u201d said the police.&nbsp;<\/div>\n<div>Elaborating on money circulation schemes, the police explained that \u201cany scheme by whatever name called where in the person has to enrol into the scheme through an already enrolled member by subscribing to the scheme by paying initial kit \/ membership amount and purchasing goods and services, whereby this introducer will get benefits (easy money) and the company which promotes the scheme earns quick money.\u201d<\/div>\n<div>Therefore, the PRO has informed the people to immediately contact the police if any company approached them with such offers.<\/div>\n<div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With hundreds of people from the state being duped of several lakhs of rupees through Ponzi schemes, the police department has cautioned the public to be wary of fake companies and not to fall prey to any enticements offered by them. In a press release, SP(Crime) &amp;PRO, PHQ, Nagaland, M.Tungoe stated that there were fake [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[679],"tags":[],"class_list":["post-124342","post","type-post","status-publish","format-standard","category-nagaland-news"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/124342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=124342"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/124342\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=124342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=124342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=124342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}