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My Take

Multi Level Marketing scams targeting students - What should be done?

Having started off my career with the student community in the area of skill development and later having established the student oriented company - stuMagz, I have interacted with thousands of students over the years and for some reason, “I am an entrepreneur” is the most common statement given by students. Initially I was happy about it, with the assumption that these students are actually doing something and are the change-makers of the future but on later interactions, I came to realise most of these students are actually victims of self-proclaimed fraudulent ‘entrepreneurs’. 

Under the garb of giving students an opportunity to earn millions and become rich quick, these fraudsters lured many innocent students into Multi-Level-Marketing aka Pyramid schemes. Through these schemes, the fraudsters make students buy some products and tell them to bring in two or three more students and continue the chain. In a twisted version of a carrot on a stick, they show staged images of students with BMWs and other luxury things, attracting many towards these ponzi schemes.

The sad reality is that there is a significant percentage of the student community that is victim to these schemes without even realising that they’re victims. What is saddening further is the fact that I received threats from students when I spoke or posted against these schemes. Many students contacted me and told me that I was jealous of their growth, implying they are experiencing a form of Stockholm Syndrome, as they truly believe what the tricksters told them. 

In my journey against these MLM schemes I came across many and most recently, I met Aruna Ravikumar, a senior journalist who wrote the book “Marauders of Hope” highlighting how these MLM tricksters sell hope to innocent individuals. Speaking at the launch of the book, I emphasised on how educating students and generating awareness on MLM schemes is the need of the hour. 

While writing about it and speaking about it is one way to go, colleges should also have a session on how students can avoid being a victim in the very first induction session of college, to ensure students stay safe from these frauds in the four years of college life.

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