Preliminary study of the digitized data revealed that Unity sold illegal assurance and health schemes to 366,342 people, raking in well over US$ 53.20 million, as of May 1, 2010. The figure only includes Unity´s Nepali members though, proving that the company´s claim about its Nepali membership (cited at about 400,000) was true. [break]
The data does not shed light on Unity´s international clients, which company top brass said numbered an additional 250,000.
“Statements seized from the company show that Unity had overseas clients as well. But we are yet to find out if its citation on the overseas client base is true,” said DRI Director General Mahesh Dahal. Given the situation, officials said the company might have used a separate server outside the country to maintain records of overseas transactions.
Out of the total Nepali members, the data showed that some 58,000 already enjoyed handsome commission returns. “Figures show that Unity till May 1 this year distributed more than US$ 20.96 million in commission to 58,000 members placed at the top of the pyramid,” said Dahal.
The preliminary findings also disclosed that Unity on May 1 had an additional US$ 2.36 million at Fina World Cooperatives meant for distribution as commission among members.
Records show that Unity was selling 12 different schemes including long-term social security plans, assurance plans and free health treatment schemes to lure people.
For these activities, which made a mockery of the country´s banking and insurance laws and the government ban on the network marketing of services, the district administration and Lalitpur police office are filing a case of forgery against Unity.
“We will immediately hand over all the data from Unity to the joint investigation team of the Home Ministry so that they can lodge a case against the company within a week,” said Dahal.
He added that DRI also has started separate investigations against the company over revenue evasion, foreign exchange embezzlement and money laundering. Once completed, the department will file separate cases against Unity for financial crimes.
As for Unity assets, a DRI statement says the company has invested a portion of its capital in real estate in Kathmandu Valley, Chitwan, Kaski, Rupandehi, Ilam, Lamjung and Baglung. It has also invested in hospitals in Pokhara and Itahari, among other things.
High-level committee to speed up probe
The government on Thursday formed a high-level committee under the coordination of a joint secretary at the Home Ministry to facilitate investigations and bring due action against Unity Life International.
The committee has a deputy inspector general (DIG) of Nepal Police as joint coordinator and senior officials of the Ministry of Health and Population, Ministry of Commerce and Supplies, Ministry of Agriculture and Cooperatives, Ministry of Industry, Ministry of Tourism and Civil Aviation, Ministry of Law and Justice, DRI, Nepal Rastra Bank, Securities Board Nepal and the Insurance Board as members.
“We will hand over the findings of investigations carried out so far,” said Mahesh Dahal, RID director general, who added that the committee will start work from Friday.
The committee has been formed in a bid to coordinate investigations by different government agencies. It mainly aims to give momentum to the investigation and bring action against Unity.
Issuing a separate statement, the Home Ministry has said that it was working seriously on the Unity case and there was no slack on its part in moving against the company.
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