Pyramid Scheme from Osmose Technology Pvt Ltd
I would like to know if it’s legal in India to run a Pyramid or Multi-level marketing scheme and if it’s safe for people to join as member.
Particularly I would like to know about a Multi-level marketing or Pyramid type promotional business run by Osmose Technologies Pvt Ltd, Pune. The company claims to be in the business of Mobile App development and the scheme is to promote their mobile apps and games.
This requires people to join by paying Rs.1200 and become a member and download the mobile apps they have created. The company expects you to use the mobile apps for 15min – 1 hr daily for which each member would get the promotional benefit of Rs20 per day.
Apart from this each member can refer to others as their downlink and are paid a daily promotional amount for each member at each level. It's claimed by existing members that it’s possible to earn Rs7 Lakhs per day and few people already claiming to be getting Rs1000 to Rs5000 on daily basis.
I am attaching few images explaining the Pyramid scheme, commission structure, links to mobile apps being promoted and a copy of company registration documents, these available in the public domain and are being used by existing members to explain and recruit more people as their downlink.
The company website is https://www.osmosetech.com/ more
Particularly I would like to know about a Multi-level marketing or Pyramid type promotional business run by Osmose Technologies Pvt Ltd, Pune. The company claims to be in the business of Mobile App development and the scheme is to promote their mobile apps and games.
This requires people to join by paying Rs.1200 and become a member and download the mobile apps they have created. The company expects you to use the mobile apps for 15min – 1 hr daily for which each member would get the promotional benefit of Rs20 per day.
Apart from this each member can refer to others as their downlink and are paid a daily promotional amount for each member at each level. It's claimed by existing members that it’s possible to earn Rs7 Lakhs per day and few people already claiming to be getting Rs1000 to Rs5000 on daily basis.
I am attaching few images explaining the Pyramid scheme, commission structure, links to mobile apps being promoted and a copy of company registration documents, these available in the public domain and are being used by existing members to explain and recruit more people as their downlink.
The company website is https://www.osmosetech.com/ more
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The trick of any multi level organization is, first you fall into the ditch; make quite a few others also fall into the ditch, on whom you have climb out, meaning you earn commissions from all of them and make some money. In turn they also should make more to fall into the ditch and the process cannot go on and on and is bound to stop at some point. Then people start losing the money and blame the scheme. No end for this! more
Nov 23
One of my acquaintances also paid Rs. 1200 to Osmose and there are no promised returns. He is also contemplating to complain, but is not sure where to complain and whether any positive outcome is likely. more
Nov 22
I would say we should complain, need to know correct authority to write to. I tried to writing to few, so far no actionable response. more
Nov 23
So assuming this is not legal, which govt department should be reported to take action? more
Nov 18
This is the precise question. Everyone is aware of online frauds. Even the RBI issues guidelines. But Who is to follow?
In my case, the fraudster was caught but the refund was not given for reasons known best to the bank. Appeal filed with the Ombudsman was rejected as the format was not proper. But the advertisements say even a simple letter is enough. Taking people for a ride.
On the whole, I spent more than the amount lost. And refund? A BIG ZERO.
In India, everything is legal till you are caught. even after you are caught, you have good lawyers to pull you out of the crutches of law.
Regarding department, every department carries a big notice board as to where to report in case any demand is made. It will be ensured that you are harassed to such an extent that you will just give up being tired.
I am going through this for the last 10 years. You can join me. This is in Mumbai. I do not know the position outside this mega-city. But confident that majority of them would not even dare to complain for fear of abuse and hurt.
Of course, our PM always announces "CORRUPTION FREE" India and " NA Khaunga na Khane Dunga". This must be only for the PM. Others are not bound by this. Take this advice of this aged man, i.e. me. more
In my case, the fraudster was caught but the refund was not given for reasons known best to the bank. Appeal filed with the Ombudsman was rejected as the format was not proper. But the advertisements say even a simple letter is enough. Taking people for a ride.
On the whole, I spent more than the amount lost. And refund? A BIG ZERO.
In India, everything is legal till you are caught. even after you are caught, you have good lawyers to pull you out of the crutches of law.
Regarding department, every department carries a big notice board as to where to report in case any demand is made. It will be ensured that you are harassed to such an extent that you will just give up being tired.
I am going through this for the last 10 years. You can join me. This is in Mumbai. I do not know the position outside this mega-city. But confident that majority of them would not even dare to complain for fear of abuse and hurt.
Of course, our PM always announces "CORRUPTION FREE" India and " NA Khaunga na Khane Dunga". This must be only for the PM. Others are not bound by this. Take this advice of this aged man, i.e. me. more
Nov 18
When most of the mobile games can be downloaded free, what is the modus operandi of this company? There seems to be some thing strange. more
Nov 18
They claim its the advertisement revenue that they get by showing ads on your mobile when you play games. But the calculations don't workout, I assume all the money they make so far would be from the joining fee only and service charges only. One person claimed they touched 30 Lakhs users can do calculations about the revenue they are collecting per day and thousands of new members join in. more
Nov 18
