ebiz the Indian version of skybiz

SkyBiz

It was launched in around 1997 in the U.S promising the citizens a great oppurtunity of earning quick and easy money through Pyramid schemes.

Products of SkyBiz

• online computer tutorials
• 35 MB webspace
• earn money through recruitement

Eventually the people of the United States realised it was a fraud company which was robbing people of their money, time and peace of mind. The US Govt. was quick in taking actions and a Judicial Enquiry was ordered.
The US Judicial Court fined SkyBiz a massive $20 Million and ordered it to pay to its members. The company was permanently shutdown.

Here’s a statement issued by the Federal Trade Commission (FTC).

SkyBiz settlement
After this fatal blow to Pawan Malhan he settled down in Canada. But suddenly in 2001 he came to India and Established eBIZ.com Pvt. Ltd. with a Website under the domain name ebizel.com which is the exact replica of SkyBiz.

~ by manojkjr on August 15, 2008.