Friday, June 24, 2011

Pyramid schemes: Daylight robbery

Clearly, with no blanket ban or registration and regulatory supervision, pyramid companies can operate freely until they collapse. The police, in most states, especially Mumbai, initiate some desultory action only when investors throng to file complaints after the cheques stop coming in. Even the Reserve Bank of India (RBI), maintains a Sphinx-like silence (as in the case of Speak Asia) or, at best............

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