From school dropout to scam kingpin: How Hisar man built a Rs 3,000-cr empire

The Hisar court’s rejection of bail to Radhey Shyam, CMD of Future Maker Life Care Pvt. Ltd., has exposed the scale of a massive multi-level marketing (MLM) scam that collected over Rs 3,000 crore from lakhs of investors across India between 2015 and 2018.

Chief Judicial Magistrate (CJM) Rajeev, while dismissing the bail plea of Radhey Shyam and his co-accused Bansi Lal Sihag on November 10, observed: “The accused, who have cheated persons in lakhs and earned money more than Rs 3,000 crore and who, despite a penalty order against them, have not paid the ordered service tax of approximately Rs 55 crore, are not entitled for the concession of bail. The bail of such accused and in such matters will shake the confidence of the public at large in the law of the nation.”

The court ordered both accused to remain in judicial custody till November 24, 2025.

From Shiswala village to a national scam

Radhey Shyam, a high school dropout from Shiswala village in Hisar district, expanded his fraudulent MLM network by luring lakhs of gullible investors with promises of high returns. His company, Future Maker Life Care Pvt. Ltd., operated through a direct-selling model that enrolled individuals as “direct sellers.”

According to the case filed by the Assistant Commissioner, CGST Division, Hisar, the company created over 32.86 lakh active user IDs, collecting nearly Rs 2,959 crore from members who each paid a joining fee of Rs 3,750. Members were offered unique IDs to participate in the network, through which the firm ostensibly sold agricultural products, health supplements, FMCG goods and textiles.

Tax evasion and nationwide crackdown

The Directorate General of GST Intelligence (DGGI) found that the firm had not obtained service tax registration and evaded Rs 54.77 crore in service tax between October 2016 and June 2017. Despite repeated summons, Radhey Shyam did not respond.

His company’s Telangana office was later sealed by the police after the Cyberabad police busted the racket in 2018 and arrested him. He remained in jail for nearly four years before securing bail in 2023.

CJM Rajeev held that the offences under Section 89(1)(ii) of the Finance Act, 1994 — punishable with up to seven years of imprisonment — are cognisable and non-bailable.

“The facts and circumstances of the case show clear dishonesty and tax evasion on a massive scale. Granting bail in such cases would undermine public confidence in the rule of law,” the court said.