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Adooye Latest News : Online firm shuts shop after promising customers money.

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   The Bangalore Police are investigating, which was selling a ‘package' that promised money for watching online advertisements and enrolling new members, in a classic money circulation scheme. The MLM, which reportedly collected over Rs600 crore has quietly shut shop and left over two lakh registered customers in the lurch, (ADooye) a supposedly US based website, that was selling 'packages' with apromise to pay for watching online advertisements and adding more members to the network, has gone burst, say media reports. Some victims, who 'invested' crores of rupees have filed a complaint against the multi-level marketing (MLM) company at Bengaluru.

In June 2014, Moneylife had warned about the risky 'business model' of ADooye similar to other strings of MLMs like Speak Asia, Fanbox, Empower Network, QNet and other pyramid and Ponzi schemes.

According to Times of India report, Kreetam Associates, the litigation firm fighting on behalf of the victims, had filed a first information report (FIR) against ADooye and Bangalore police are investigating the case. "The company stopped paying returns in August around the time it was changing the website layout. The site closed down early September and the company doesn't exist anymore and there is no one to contact," Vasanth Aditya, managing director of Kreetam Associates, told the newspaper.

Quoting Vasanth, the report says, has collected over Rs600 crore.

Moneylife investigated this company when a worried reader wrote to asking to look into their credentials. Their website states that ADooye is founded by Australian Mathew Reichgruber and Alessandro Sen, and marketed by Delhi based AD Marketing. This affiliated marketing company, which operates like an MLM sold various 'packages' containing online advertisements, on viewing which the member was rewarded.

Apart from this, ADooye earned more income from selling various expensive 'packages', which were nothing but login access to view 10 advertisements daily for 140 days, to its registered members. They have had a built network with the help of paid members whogenerate web traffic, when even for showcasing advertisement they charge money from its members., MLM, Bangalore Police, investigation, online advertisements, money circulation scheme, Ponzi, Kreetam Associates.
Here are comments from some of our readers on earlier article...

"Dear Friends, before joining in Adooye I had lots of query and discussion with the Leader at Bhubaneswar, Odisha and finally I was agreed when received a PDC cheque and put Rs2.5 lakh. After received only Rs20,000 now it is vanished. For that I communicated with Local police, Cyber crime and also send information thru mail to our Prime minister Narendra Modi by describing the MLM. We need to raise our strong voice which will put impact to this type of ****ards."

"My friends have lost almost 4 lakhs rupees investing on Adooye. We are still waiting for the payment don’t know when will we receive the money back."

"Again a company arise to loot innocent people’s money. Beware friends do not get involved in this MLM company and waste your money. Do not become greedy and investyour hard earned money in any MLM Companies. They will show you dreams and take away your cash and vanishes like SpeakAsiaOnline, Qnet India and many more to name...........BEWARE. Remember My Words. Control your Greed. Don't Become a Pray."

"Once again Hat's Off to Moneylife for bringing into the open another MLM which will only milk the late comers to pay off the earlier members."

Adooye News : Online firm shuts shop after promising customers money.

Adooye logo mlm newsAdooye Latest MLM Scam News : BANGALORE: Even as e-tail and great deals are enticing consumers, Bangalore police are investigating a complaint from people cheated by an online marketing firm
The firm, which collected money from people and assured them high returns by paying them to clicking on advertisements, shut shop quietly and left over 2 lakh registered customers in the lurch.
According to Kreetam Associates, the litigation firm fighting on behalf of the victims, crores of rupees are at stake and the company clearly looks like a fly-by-night firm.
The firm collected a registration fee from the victims. A few victims, who spoke on condition of anonymity, said: “The registration fee ranged from Rs 3,000 to Rs 6000 and Rs 12,000 to Rs 25,000. If we paid Rs 3,000 and clicked on a specific number of ads, we were promised Rs 7,000 after 120 days. Half the amount was to be paid in cash and rest as vouchers that could be redeemed.”
Most victims TOI spoke to had registered recently and not got any payment.
“We filed a complaint against, an online marketing firm registered in Delhi. Most people who registered with them are from Bangalore,” Vasanth Aditya, managing director, Kreetam Associates, told TOI.
An FIR has been registered against the company, a copy of which is with TOI. “The company stopped paying returns in August around the time it was changing the website layout. The site closed down early September and the company doesn’t exist anymore and there is no one to contact,” Vasanth said.
Claiming that there are at least 2 lakh persons who have invested in the firm, Vasanth said: “The company has collected over Rs 600 crore. We have filed a complaint with the Bangalore city police commissioner and the cyber crime department.”
Police sources, while confirming they’re investigating the matter, said the firm has used sev
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