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Go Global Business School Private Limited, India, a subsidy of Shine GoGlobal, Asia is a ponzy business accelleration company.
ReplyDeleteThey have MLM type of training programs, where people are promised to get trained in business, and are promised to give the same training to different companies formed under Go Global Business School Private Limited. They demand around 50,000 Indian Rupees from the victims, which they promise would be multiplied by the opportunities to train businesses formed under Go Global Business School private Limited, India. After few months, when there is no training opportunity, the victims would be frustated and ask for returning of the money. At that time, Go Global Business School private limited directors would tell them that their invested amount is only for the online or offline training they received from Go Global Business School. They would also ask the victims to become team leaders where they have to refer at least 2 people every month into their training programs to get a commission. Initially 50% commission would be given to the victims, later the refered people would be given positions in the newly formed child companies of Go Global Business School private limited, thereby avoiding the referal comission being given to the victims.
They lure people into investing into their company to become cofounder, but do not give them enough shares for the amount of money they collect. They also start private limited companies by making victims invest an amount once again for company formation along with one of the scammer themselves as one of the Directors of the newly formed companies. Later they send their resignation to the ROC, and demand the victims to give back their invested money. They would not have a clear Exit strategy mentioned in their company formation documents. Also, all their legal documents will not have clearcut promises.