KATHMANDU: The networking business, despite government’s ban, continues to flourish unabated in the country.
The government announced the pyramid styled networking business as illegal in 2011. Popularly dubbed as ‘One World One Business’ in the international market, this business has attracted a significant number of Nepali investors. The business, which continues to boom with several scams still active in the country, has remained out of reach from the security bodies.
The Central Investigation Bureau (CIBI) of Nepal police had around eight months ago, revealed how a domestic company ‘IBOS Globe Marketing’ was duping people in the name of networking business.
However, that was not the first CBI action against such domestic companies running the illegal business racket. Prior to this, the CBI had already launched several operations against such illegal businesses in Nepal.
Episode one:
In 2003, the government banned a company called Gold Quest for running illegal networking business. The company invested by Indian nationals promised people of gold coins. Allegedly an estimated of one million people were duped by the company.
Episode two:
The police took action against a company called Unity Life Insurance Network that came into operation in 2003. It conducted networking racket under the cover of insurance business.
Episode three:
Police launched a raid on Herbo International Network that ran the illegal business under the cover of herbal business.
Episode four:
Last year, the government arrested some 102 persons affiliated to an organization called Q Network on charges of their involvement in networking business. Surprisingly, medical doctors, chartered accountants and engineers were among those arrested.
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