The minister of home affairs, Ugyen Dorji, today confirmed that Tallwin Life Plan is illegal and called on all individuals to challenge the Ponzi scheme that has become rampant in all parts of the country. The minister said the concerned authorities are aware of the scheme and are trying to stop it.
The Member of Parliament (MP) of Nanong-Shumar, Lungten Namgyel, questioned the concerned ministry, during the question hour of the ongoing Parliament session, today. He asked what interventions are undertaken by the ministry to resolve the Tallwin Life Plan that is spreading rapidly in the community.
Tallwin Life Plan has become rampant in Bhutanese communities, luring innocents by the promoters. The promoters recruit new investors in their downline and make them invest Nu 2,700, promising a high return of Nu 1,20,000 in 15 months. If the downliners can recruit four investors, they are told their returns will be even higher.
As measures are already in place, the minister said that the Royal Monetary Authority and Department of Law and Order have circulated a notification cautioning the public not to invest as it is a fraudulent scheme. The Royal Bhutan Police is also monitoring the scheme. So far, the country has received about seven reported cases in last two weeks, and they are under investigation.
The ministry has asked the RBP to investigate the scheme and public informed through media. Beside, the RMA has made the bank accounts of promoters non operational.
Meanwhile, the home minister said it would be challenging to combat the digital fraud scheme that is rampant on different social media platforms. He said that it is the responsibility of all individuals to create awareness and fight without leaving it to concerned authorities.
Sangay Rabten from Thimphu