MLM Scam: Coimbatore Protest In Support Of My V3 Ads Case In Detail

MY V3 ADS Protest
MY V3 ADS Protest

A complaint has been lodged against the company 'My V3 ads' for involvement in financial irregularities. Yesterday, thousands of people gathered to support this company, and there was a stir. 

MLM companies scam, saying that you would profit if you watched advertisements on YouTube. It is like a chain connection in which the head of this company will ask you to watch the advertisement on YouTube first. You pay a fee to join this. Then you have to add someone. He must add one, and this link will continue. This kind of scam can also be said to be Multi-level scamming.

For this, you need to add 12 people under you. You will get a Commission that will be paid in tiers. Many people have joined this by paying fees. Many people have joined this modern MLM scam for the sake of money.

MLM Scam: Coimbatore Protest In Support Of My V3 Ads Case In Detail

Ashok Srinidhi, district secretary of Pattali Makkal Katchi (PMK), also lodged a complaint about an irregularity in MY V3 Ads, and the Central Crime Branch of Coimbatore has registered a case and is investigating.

A case was registered on January 19 under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and the Banning of Unregulated Deposit Schemes Act, 2019. The case falls under the following sections of the respective acts: 

  • Sections 3 and 4 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, prohibit prize chit and money circulation schemes and penalize those who contravene the provisions of section 3. 
  • Sections 3, 6, and 21(2) of the Banning of Unregulated Deposit Schemes Act, 2019 ban unregulated deposit schemes, classify certain schemes as unregulated deposit schemes and punish those who accept deposits in contravention of section 3.

According to the police, a company offers a free opening membership and several paid membership schemes. The company's investment and advertisement reviewing operations are carried out through an app downloaded over 5 million times as of Monday. 

MLM Scam: Coimbatore Protest In Support Of My V3 Ads Case In Detail

Paid members are given herbal packs and ayurvedic capsules and are assured of promotion income and special rewards when they add new people to the MLM network. The cost of paid membership ranges from ₹360 to ₹121,260.

The company promised a person would earn between Rs 5 and Rs 1800 per day by watching YouTube ads. Following the complaint, unexpected crows gathered at the L&T bypass in support of My V3 ads and protested. The protest videos became viral on social media, letting the other district and state people know what scam was happening in Coimbatore.

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