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:
On Dec. 3, “acting on a complaint received at the office of DCP Crime, CCB F&M squad raided Room No 225 of Hotel Capital, Raj Bhavan Road, where 4 accused persons were explaining, advertising & collecting enrollment fee from new victims of YOBSN SOCIAL MEDIA NETWORK MLM fraud web based company ( hosted from US ) and run through a website www.socialmediatechnologies.com . . .New members are lured with promise of big money in USD $s by pushing the ‘CREATING YOUR OWN SOCIAL NETWORK’ tagline and encouraging members to bring in more members & growing their pyramid on the LEFT & RIGHT side.They advertise by saying that when a company like Facebook etc is making billions of $s from social network, why can’t you make money.This company runs a Web site called Smart Media Technologies. Any person can become a member by paying 8000 to 25000 INR as per their capacity. Then the person has to introduce Two persons (Left & Right member) to invest for which he would get 25% BONUS each as commission. As the pyramid grows, he would get more bonus. Each member is given a username/password and the commission earned & number of members introduced is meticulously accounted in the login itself. In fact, each user can see his pyramid and the amount of commission earned by it.
