7 networking businesses including Josial, Crowd One are illegal
The Department of Commerce, Supplies and Consumer Protection has stated that seven networking businesses, including Josial and Crowd One, are illegal.
The department said in a statement that the Hyper Fund Global, Josial, CRU, Winter, Crown One, Solemax and Point Vis networking businesses were illegal.
There is a provision in the Act and Rules 2076 for direct sale (management and regulation) of goods not to do pyramid based networking business.
A statement from the department said, “Indigenous and foreign individuals / firms / companies including Hyperfund Global, Josial, CRU, Winter, CrownOne, Solemax, Point Vis and others have illegally conducted online business in the name of direct sale of goods in Nepal and abroad.” The department has drawn serious attention to the complaints and grievances of the Nepalis who have been involved in it and have been deceived and fled the capital.
The department has stated that investigations are being carried out on some individual firms and companies on the basis of complaints and grievances.
If such illegal acts are carried out, the said law has requested not to do such acts which may result in imprisonment of up to Rs. 1 million or up to 5 years or both.