Future Maker Life Care Pvt. Ltd. is a Non – Government Company which was started 10 years ago by Radhe Shayam, a petty tailor from village Siswal in Adampur, Haryana. After quitting his tailoring job, he started working as a property dealer and later on started working with networking companies. He also worked with RCM where he would motivate people to make investments.
The profits in making people invest made Radhe Shayam start a Multi – Level Marketing Company with the name ‘Future Maker Pvt. Ltd.’ This Company was started on February 26th, 2015 and is registered at DSS – 45 Red Square Market, Hisar (Haryana). In just 3 years, this business – minded man who was actually a 7th class dropout made his company reach a turnover of more than Rs. 100 Crores only with the help of innocent investors. Radhe Shayam and Bansi Lal are the two directors who are leading Future Maker Life Care (FMLC).
Directors of Future Maker Life Care Pvt. Ltd.
Future Maker Life Care (FMLC) is run by three main persons. They are designated as Directors of the company from 26th of February, 2015 (the day FMLC started its business).
They are as follows:
• Radhe Shayam – Chief Managing Director (CMD)
• Bansi Lal – Managing Director (MD)
• Surendra Singh – National Distributor
How did Future Maker Company made Rs. 1200 Crores in 3 years?
A company which started in 2015 had a turnover of more than Rs.100 crores from July 2017 to July 2018. Isn’t that fishy? Off course it is. This matter came to light only when Future Maker Company did not filed their CGST and the official authorities issued them a notice regarding the same. It is quite shocking to know that within a month, FMLC did trade worth Rs. 150 Crores but couldn’t pay for their applicable CGST.
Read the sequence of events given below to know how this Chit Fund Fraud took place:
- Future Maker Pvt. Ltd. worked as a Multi – Level Marketing Company where people would invest their money by purchasing one unit for Rs. 7500.
- For purchasing this 1 unit, they would get medicines, cosmetics, clothes and other such products. Also, the investors were required to provide two more members (investors) to Future Maker Company for which they would get commission every month.
- By investing approximately 2 lakhs in 27 such units, the investors would get Rs. 24,500 after every month. FMLC promised its investors that their invested money would get doubled within 24 months. These fake promises and the initial commissions that came in, led the investors purchase more than one units in go.
- This way Future Maker Pvt. Ltd. accumulated more than 1000 crores in just 3 years of its journey. More than 10,000 people belonging to Ujjain, Dhar, Indore and other parts of the country had invested their hard earned money in this Hisar – based multi – level marketing company.
- Future Maker is said to have a huge network in Madhya Pradesh and on 24th of August almost 15,000 people associated with Future Maker Company gathered in a programme organized by the Company itself.
- Future Maker was a small company which began its journey in Hisar (Haryana) and slowly and steadily expanded its empire in Madhya Pradesh, Telangana and other regions and kept on extorting money from the innocent investors on the pretext of multiplying their investments in 24 months.
- It is also being estimated that Future Maker has made nearly 15 lakh members a part of their Multi – Level Marketing projects and has duped these innocent people off their hard earned money.
- Radhe Shayam and Surendra Singh have traded with some petty firms in the past and by establishing Future Maker Company, they targeted unemployed youth, retired employees and female homemakers. Using ‘Chain System’, they made new members and targeted innocent people from Haryana, Maharashtra, Madhya Pradesh, Odisha and Rajasthan.
How did Future Maker Chit Fund Fraud busted?
- This Hisar based firm has duped more than 10,000 people by making all sorts of false promises and looting from them Rs.1200 crores.
- This Chit Fund fraud scam came to light and the police found the company’s work ethics suspicious when some investors from Telangana lodged a case of fraud against Future Maker Life Care Pvt. Ltd.
- It was then that the Telangana’s Cyberabad Police got to know that there are plenty of other investors who invested in FMLC thinking that their money would get doubled, but this actually never happened and they were shown a rosy picture by the company that they would get commissions in return of their invested amount.
- The matter was then reported by the Telangana Police Team to the Hisar Police Team who raided the Hisar based premises of the Company where it was found out that the FMLC had an annual turnover of more than Rs.100 crores.
- Police has also got the news that a total amount of 75 crores is deposited in a day in various bank accounts of Future Maker Pvt. Ltd. Hyderabad’s Deputy Police Commissioner A. Ventakshevarao had reported that a total of Rs. 200 crores are deposited in this Chit Fund Company’s bank accounts.
Future Maker Company Latest News
The major developments that have taken place in Future Maker Chit Fund Fraud Case are as follows:
FMLC’s Directors in police custody: On 24th August, 2018 Radhe Shayam was arrested from Gurugram by the Telangana Cyberabad Police team. Naresh Sharma, another accused in this Chit Fund case was taken in police custody.
Company’s website and app closed: After the Company’s CMD, Radhe Shayam and MD, Bansi Lal were arrested by the police, Future Maker’s official website and app have been closed down so that people can be protected from being trapped further in this yet another Chit Fund Scam.
Company’s Bank accounts seized: The police teams have seized 5 bank accounts of the Future Maker Company containing more than 218 crores of a massive amount.
FMLC’s Hisar premises raided: The Haryana Police had raided the FMLC’s Hisar office premises, the place where the company actually started. Important documents and a laptop were among the items seized by the Hisar police.
10 rounds Revolver, laptops, mobiles, cash and SUVs seized from Future Maker Promoters: The Cyberabad Police has seized 4 laptops, 60 lakhs of cash, 1 Revolver with 10 rounds, 6 mobile phones and 3 SUVs (Endeavor, Fortuner and Jaguar). The Cyberabad Police Commissioner, VC Sajjanar also said that the Multi – Level Marketing and other networking referral schemes that Future Maker Company was selling to its investors are actually illegal under the PCMCS Act (Prize Chits and Money Circulation Scheme).