Ponzi schemes and other unregulated parallel market investment schemes are affecting the growth of the MF (mutual fund) sector.
Fraudulent Investment Operation..!
A ponzi scheme is a fraudulent investment operation that pays returns to its investors from money paid by subsequent investors, rather than from profit earned by the individual or / organisation running the operation.
People are cheated by a number of ponzi schemes in all tier-I, tier-II and tier-III centres. Agents are paid 30% to 35% and people are promised 30% to 40% return per year.
At the end of the day, the amount raised has to be invested in financial instruments, which instrument gives 60 to 70% returns per year.
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