CCB, Bengaluru City @CCBBangalore Busts INTERNATIONAL MLM Fraud which collected millions of $s and arrested New... http://t.co/J0g2LwHJK0
— BengaluruCityPolice (@BlrCityPolice) December 4, 2014
The scam that was referred to "International MLM Fraud" is YOBSN, aka "Smart Media Technologies" (but also known as Social Media Technologies, Automatic Geek, and so on.)
Quoting from the BangalaruCityPolice's Facebook account:
While the company claims to be based in the US, I was the first commenter on BehindMLM to find its link to India.
The company claims to be headed by a "David Martin". NOBODY outside the company had ever seen him or heard from him, except allegedly calls and/or emails. This is very reminiscent of Moolah's demise in UK where the founder "Alex Green" basically disappeared, after leaving revelation that he had legally changed his name so nobody knew what he did before (several failed businesses) and he disappeared with 1.4 million worth of Dogecoins. It is also suspected that "David Martin" does not exist at all, and is a composite personality operated by the heads of this scheme to sound more Western, much like "Profitable Sunrise" ponzi, where "Roman Novak" is the reputed head. SEC and authorities all over the world have investigated and shut down this scam, and no trace of "Roman Novak" can be found, so it is more than likely that Roman Novak does not exist.
We shall see how the prosecution goes.
And a reminder to all... Stop believing in quick riches. It's a good way to lose money. If it's too good to be true, it probably is.