MLM Co MD held for alleged fraud

Published: 09th January 2013 11:29 AM  |   Last Updated: 09th January 2013 11:29 AM   |  A+A-

The Crime Branch Economic Offences Wing, Kozhikode, arrested the Managing Director of the ALGA Royal Life, a multi-level marketing company, from a house in Thammanam in Kochi on Tuesday. The arrested person is Praveen Gopalan Nair, 36, a native of Kollam. According to Venugopal, DySP, Crime Branch, the AlGA Royal Life company was selling Ayurveda products at exorbitant rates.

The CB had registered a case against Praveen and the company on the basis of a complaint from Suprabha who was allegedly siphoned off Rs 12 lakhs by the company. A case for violation of the Prize Chits and Money Circulation Schemes (Banning) Act of 1978 was registered against the company. The company allegedly collected around Rs 52 crore from the public and returned only Rs 46 crore, siphoning off Rs 6 crore. The CB had raided and sealed the office of the ALGA which was operating near Aluva palace six months ago. After the raid, Praveen had been hiding at his friend’s place at Thammanam.

On the basis of a tip-off, the police raided the house and took Praveen into custody. He will be produced before the Kozhikode CJM on  Wednesday.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp