Internet schemes (Visarev, FOREX) investors outraged, but no credible claims from companies

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IMPHAL Dec 8: Even as IFP was pressured to do a second print run by investors in the internet pyramid investment schemes Visarev and FOREX, which IFP in its December 8 issue reported to have collapsed, both having failed to pay investors of the state, no substantive counter claim has come from any authorized representatives from either network.

IFP received several telephone calls from various individuals claiming to be officials of Visarev, but when asked about their company credentials, all of the callers turned out to be self acclaimed `leaders` and not accredited official with proper authority of the network company to discuss the matter.

Two persons came to IFP with what was purported to be a clarification from Visarev.

The clarification was supposedly sent from Malaysia by the CEO of Visarev, one James whose second name was not disclosed, through e-mail.

When both the persons were asked for their company credentials, they also turned out to be investors who were simply running errands to deliver the clarification to IFP office to be published in the form of an advertisement.

The IFP declined the advertisement as that would likely compromise further pursuit of information on the matter.

Another suspicious element in the clarification was, the note which was sent from Malaysia was printed after downloading, yet the signature of CEO James was written in capital alphabets in ink, which beggars yet another question on who signed the letter here.

The clarification alleged that Visarev is still paying out downline members and `hopes` to clear the backlog within December without stating the reasons for the delay.

IFP inquired whether the persons delivering the clarification could be held accountable if the payouts are not made within the stipulated time to which both replied in the negative.

Still no official of Visarev willing to bear the responsibility and substantiate their claim has approached IFP as of yet.

4 COMMENTS

  1. Dear Sunil ,
    Forex Achievements not only affected Manipur but also Cachar and north east as whole.Mr.Ratan singh Of Nambol Kamong came in Cachar and collected crores of Rupees promising to within 200 days with interest.So , please consider our case because the uplines are from Manipur.Thank you.

  2. So far I haven’t received a single reply to any message sent on the Net. Not a single Rupee has been paid for the last 3 months. What company is this, real or sham? No one answers any calls. The investors don’t know what else to do. The numbers given above of Mr. Sudarshan, are not reachable. None of the company officials can be reached.

  3. Im not an investor for VISAREV – but I am based in Singapore. I managed to get one of their General Managers no. who is based in Bangalore last year in Singapore – anyone may used this no. to track down where about the status of the company. His name is Mr.Sudarshan – +91-9900082929/+91-8041327729. I would request all the news paper to put some hard work to find out the details.

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