Cyberabad cops bust MLM network, arrest eBIZ promoters

The Cyberabad Police have arrested Pawan Malhan, Managing Director of eBIZPvt Ltd, and his son Hitik Malhan for duping people by luring them into multi-level marketing schemes.

Hitik Malhan looks after the company affairs of eBIZ.

An amount of Rs 389 crore in various bank accounts of the company has been frozen.

The police have asked the people not to fall for the money circulation schemes that are being promoted through multi-level marketing, network marketing, referral marketing, chain marketing, direct selling campaigns. “Money Circulation Schemes are banned in India under the provisions of Prize Chits and Money Circulation Schemes (Banning) Act 1978,” the Commissioner of Police of Cyberabad, has said in a statement.