Tarun Trikha, owner and CEO of the TVI Express pyramid scheme, was arrested in India yesterday by the Kolkata Criminal Investigation Department (CID). His apprehension follows years of operation for a company banned in Australia, Indonesia, Lesotho, South Africa, Namibia, and the United States.
TVI Express functioned as a persistent pyramid scheme. Despite bans in several nations, it repeatedly emerged in new markets, attracting fresh participants. Once a market reached saturation, the scheme would relocate, repeating this pattern for over five years.
Trikha, an Indian national, remained at large while the scam persisted in new locations. News of his arrest in Kolkata came unexpectedly. Locals present at his transport first reported the development.
Victims of the TVI Express scam claim the Kolkata CID arrested Trikha at Delhi airport. Authorities then transported him to Kolkata. The photograph circulating online was reportedly taken during this transfer.
English language news reports on Trikha's arrest have not yet surfaced. The specifics of the CID's investigation, the charges against Trikha, and the full details of his apprehension remain unconfirmed.
TVI Express was particularly active in South-East Asia during much of 2012. Before that, its recruitment efforts focused on Africa in 2011. The Philippines served as the last major recruitment market for the scheme.
In April 2013, the company announced plans to expand into South Korea. Trikha's reasons for returning to India are not immediately clear.
Local Kolkata victims of TVI Express allege Trikha and his family defrauded citizens worldwide of more than $50 million (5000 crore). They claim over 7 million people globally lost their life savings to these operators. The Giftex website operators also claim to be victims. They state they will not stop until their money is recovered.
On January 31, 2013, TVI Express published a notice on its website. It announced a "Quantum Leap Program" and "changes" to rejuvenate its system. The notice stated a new management and name would come, but the "core engine" would remain.
Two months later, no further announcements appeared on the TVI Express website. The program suggested TVI aimed to rebrand and begin a new recruitment cycle. The company likely faced diminishing new countries for expansion. Trikha's arrest was not part of this planned reboot.
The Central Bureau of Investigation filed criminal charges against Tarun Trikha on December 1, 2018, following a four-year investigation.