Founded in 2001 by Pawan Malhan and his son Hitik Malhan, eBiz.com Pvt. Ltd. presented itself as an e-learning company that sold computer education packages and web-based learning products. However, its primary business model was a pyramid scheme where members earned commissions not from product sales, but by recruiting new members who paid a joining fee. The company targeted students and young people, promising them significant wealth. In 2019, Indian authorities dismantled the operation, arresting the founders and freezing assets after it was found to have illegally collected over ₹5,000 crore (approximately $700 million USD) from around 1.7 million people.

Founded in

Hungary