Radhey Shyam: From a petty tailor to kingpin of Rs1,000-cr company

Tribune News Service

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Hisar, September 9

From a small-time cog in a chain-marketing firm to the kingpin of Hisar-based chit fund firm Future Maker Life Care Private Limited, its CMD Radhey Shyam saw a phenomenal rise in the past three years. Since the firm’s formation in 2015, it rung in business of around Rs 1,000 crore and is in the eye of a storm of an alleged multi-crore scam by duping hundreds of investors.

A resident of Sishwal village near Adampur, Radhey Shyam (37) had a humble beginning after dropping out of school. After sewing clothes as a tailor with his elder brother for five years, he got into the real estate business and opened an office in Raj Cinema market of Adampur.

However, he had to withdraw from the real estate business after the market went into recession about 7-8 years ago.

He then got on board of a Rajasthan-based chain-marketing firm RCM. Being an impressive communicator, he emerged as RCM’s star motivator in Hisar.

When the firm winded up its operations here, Radhey Shyam decided to set up a similar marketing business. He projected it as a life-changing company, promising to give wings to the future dreams of people. His marketing team projected him as the ‘Mahaguru of networking’, who had the agenda of giving maximum returns to the investors.

Adampur resident Amit says Radhey Shyam used to be a small-time tailor who was very talkative. “He was a very impressive speaker and perhaps this quality helped establish him as a motivator, through which he duped people. The family used to own a two-room house till some years ago, which has now grown into a mansion,” he said.

The lure of easy money trapped people belonging to a cross section of society, including illiterate farmers, educated youths, government employees, housewives, petty shopkeepers and traders from Hisar, Sirsa, Fatehabad and Bhiwani districts in his trap in the past two years. A strong chain had been established in every village in the region, drawing from Rs 50 lakh to a couple of crores from each village, depending on the size of village, sources said.