Amway India CEO arrested again
Based on a case filed in Kurnool, the Andhra Pradesh police took the CEO of Amway India into custody from the company headquarter at Gurgaon
 
William Scott Pinckney, chairman and chief executive (CEO) of Amway India has been again arrested by police. This time, he is arrested by Andhra Pradesh police, says a report in The Hindu Business Line.
 
Based on a case in Kurnool, a police team from the town took the top executive into custody in Gurgaon, the company's corporate headquarters, the The Hindu Business Line report added.
 
Andhra Police said that the arrest has been made based on a case filed by a lawyer alleging unethical practices followed in money circulation and product selling and under pertinent laws. 

In a statement issued on 28th May, Amway India, said, "In an interesting and curious sequence of events, the AP Police re-arrested William Pinckney and started moving him from Kadapa jail to Khammam jail even before the outcome of the bail hearing in Kurnool. This movement was basis another frivolous FIR lodged in Khammam some days ago. Subsequently, in the evening, the bail application of William Pinckney was denied by the Kurnool court. We will now approach the sessions court."
 
"We maintain that the allegations mentioned in the FIRs are frivolous and give a misleading impression about our business. We had no prior information about the FIR which was filed way back in December 2013," Amway India added.
 
Last year in May, Crime Branch officials of the Kerala police arrested Amway India’s the then managing director and CEO Pinckney and two directors, Anshu Budhraja and Sanjay Malhotra of the multi-level marketing (MLM) company for alleged money laundering and breach of trust. The arrests were made under the Prize Chits and Money Circulation Schemes (Banning) Act 1978 (PCMCS Act), which only goes to prove that the Act is not as toothless as various state governments have liked to claim.
 
Moneylife and Moneylife Foundation have always said that Amway and several other multinational chain-schemes do fall foul of the PCMCS Act and there are clear high court judgements to this effect. 
 
The fact is there has been plenty of litigation on the issue, precisely because various authorities consider that the operations are illegal under the PCMCS Act of 1978. Moneylife Foundation, an NGO working towards spreading financial literacy, has repeatedly warned people about falling for MLM and pyramid companies with innumerable examples of losses incurred. Moneylife Foundation sent a representation to the prime minister, finance minister, governor of RBI and SEBI.
 
A set of powerful MLMs, which are part of an exclusive closed club, called the Indian Direct Selling Association or IDSA (on the lines of the Direct Selling Association of the US) has been lobbying hard to make a distinction between their operations and those of others, who they call, fly-by-night operators such as Speak Asia and Ad Magnet. In fact, the tens of thousands Ponzi/ double-your-money schemes that exploit poor financial literacy cause the biggest losses to Indians across the economic spectrum today.
 
Amway can be at best a source of pocket money
Senior Amway representatives had met Moneylife to clarify their views on Amway. Richard N Holwill and Rajat Banerjee , who met us, admitted that although some distributors tend to go overboard in pitching the scheme, income from being a distributor of Amway can, at best, be a source of additional income or pocket money for most people. It is not the pathway to riches as MLM companies make it out to be. However, Amway also insisted that there is no longer any joining fee and the model does not necessarily require enrolment of distributors. However, there was no answer to expensive nutraceuticals being prescribed by doctors, whose wives or relatives were Amway agents.
 
In India, AP was the first state to enact a law to ban money circulation schemes in 1965. Both the Supreme Court and several high courts have passed landmark judgements against the operation of these schemes as they violate the law of the land and are detrimental to the interests of the public.
 
There are on-going cases against Speak Asia and Amway, to cite two examples.
  • User

    COMMENTS

    MOHAN

    6 years ago

    .

    It is an oft-repeated lie of chain-money companies that they are operating in many countries around the world for the last several years. But these Ponzi companies never reveal the list of the countries where they are doing business and/or since when they have started business in these countries.


    REPLY

    Anand Mohan

    In Reply to MOHAN 6 years ago

    But the question is what cheating has been done by Amway so as to warrant the arrest of its Chief right away. Is it not injustice to a foreigner that he is being arrested in multiple FIRs on same cause of action so that he does not come out of jail. Just think, an Indian goes to foreign country on assignment and being booked under several FIRs for same offence. His relatives will be helpless even to meet him. After all what is the offence committed by Amway and who has done the cheating , is it the chief or some local person, this is the moot point.

    MOHAN

    In Reply to Anand Mohan 6 years ago

    India is not a banana republic.

    Police cannot register an FIR against an "innocent" foreigner, especially against a US citizen

    Under any circumstance Govt. cannot allow Chain - money activities of a foreign or domestic ponzy company

    yamuna

    6 years ago

    Amway's concept is as similar as purchasing products from supermarket. There is no any joining fee. If you like to use quality products then by just giving your address/ID proof & Bank account you can be a distributor & can purchase products from Amway. If you don't like the quality then you can return even after using the product upto 30% within 30 days. No body pressurize you to build a network.

    Building a team/Network is optional. It is as simple as we watch a movie & refer all our friends to watch the movie. When a group of people are purchasing the products then company is getting turnover & giving you some profit. There is nothing wrong.

    If Amway would have been a Ponzy scheme then they will never invest Rs. 500 Cr. in INDIA (Tamilnadu) to establish their Company.

    If really Indian Police wants to do something then please find out "How money Circulation is going on in IPL?"

    Amway is operating in 108 countries for the last 55 years.
    Let's don't make our self fool by arresting such a Healthy Business People. Its a shameful step from Indian (Specially Andhra & Kerala) Police. There are lot of Illegal Chit funds companies as well as individual people running chit funds in Andhra Pradesh. Is there any honest Police Officer is there to Ban all the illegal chit fund companies?

    REPLY

    MOHAN

    In Reply to yamuna 6 years ago

    Yamuna, you said "Amway is operating in 108 countries for the last 55 years"

    Please let me know the name of the 108 countries and the date of beginning of "operation" in each country

    MOHAN

    In Reply to yamuna 6 years ago

    Yamuna, you said "Amway is operating in 108 countries for the last 55 years"

    Please let me know the name of the 108 countries and the date of beginning of "operation" in each countries.

    Anand Mohan

    6 years ago

    In this connection the direct sellers association may contact the govt of new states Telangana/Seemandhra which are going to be formed on 2.6.14 to immediately decide at the highest levels whether Amway is a ponzi scheme. No innocent person must be incarcerated. Further, an application under sec.438 of the Cr P C may simultaneously be made before Hon’ble Hyderabad High Court seeking blanket anticipatory bail as it is apprehended that the police may slap such cases in other districts and may create hurdles in his release.

    Abhishek Sharma

    6 years ago

    In 1993 Amway submit the legal document to Indian government, The government finally approved Amway operation in 1998. In these 5 years Indian government consulted several auditors Lawyers and other experts on Amway business model before finally approving Amway’s direct selling business. The Central Govt. has approved its investments and operations upholding its legality. Most of actions against Amway has been initiated by state police clubbing it with fly by night operators due to lack of suitable laws governing direct selling in India.

    Dev

    6 years ago

    Union Government must immediately expel Amway CEO William Scott Pinckney from India.

    Divender Jarial

    6 years ago

    By arresting Amway CEO, it has been proved by Indian Authorities that no foreign company should invest their time and resources in India. Dev Singh

    Surya Prakash

    6 years ago

    In fact easy money cannot be made in Amway business(most people say it as Scheme)....No joining fee and 3o days return policy even product was used upto 33%..makes satisfaction to ABO and even customer too.And this business is not Pyramid scheme .. & income comes purely from product selling only..Expansion of business with team is purely option.. finally there is no chance of losing money..by doing Amway business....

    REPLY

    MOHAN

    In Reply to Surya Prakash 6 years ago

    blah-blah

    Srini

    6 years ago

    I would request Money life to be discussed on the Tupperware India' and IDSA's harassment on their Consulatants through the distributors.Many unethical practices are following by them.IDSA trying to favour all these MLMs at any cost.They are not taking any case seriously because there is no need to report to any Ministry.First All these to be bring under Government's RBI or SEBI's Umbrella or Minsitry of Companies.

    All these are happening by IDSA Only and their encouragement to these kind of companies.

    MOHAN

    6 years ago

    Thank God Sachin Pilot is no more our Corporate Affairs Minister.

    Sachin Pilot made us believe that Amway was a "law abiding firm" !!!


    Read:

    Amway arrest worries Pilot:

    http://www.telegraphindia.com/1130530/js...#.U4RJp_mSyaQ

    MOHAN

    6 years ago

    Well done Andhra Police!

    QNetIndia.in and Qnet's other websites blocked on court order
    CERT-In, the Indian cyber security sleuths, have blocked many portals related with QNet, including QNetIndia.in and QNet.net used by the MLM operator for all of its transactions
     
    The Computer Emergency Response Team India (CERT-In) has blocked several websites of QNet, the multi-level marketing (MLM) operator, including QNetIndia.in, the portal used by its agents for all transactions. Even QNet's main international portal www.qnet.net, which is used for financial transactions, is among several portals blocked by the CERT-In related with the MLM operator.
     
    This follows an order from the 47th Esplanade Court in Mumbai. Earlier, the Economic Offences Wing (EOW) of Mumbai Police, which is probing the multi-crore MLM scam, requested the CERT-In to block websites related with QNet. However, there was no response. After waiting for four months, the EOW finally requested the Court to pass directions for blocking websites of QNet.
     
    An official from CERT-In, who does not want to be named, has confirmed over phone, the blocking of sites related with Qnet. He, however, declined to provide details of domains that are blocked.  CERT-In is the nodal agency to combat hacking, phishing and to fortify security-related defences of the Indian Internet domain.

    UPDATE: In a release issued on 29th May, Vihaan Direct Selling (India), the franchisee of direct marketing company QNet, said it has filed a petition in Sessions Court challenging the blocking of its three web sites by the CERT-In on the orders of a Magistrate. Vihaan, in the statement also alleged that the Magistrate “failed to appreciate the fact that the impact of the order is like giving punishment before deciding whether the company committed any offence". It accepted that the sites www.questnet.net, www.qnetindia.in and www.qnet-india.com that have been blocked are the company’s e-commerce lifelines.

     
    QNetIndia.in is the registered portal of Vihaan Direct Selling Pvt Ltd that carries the QNet brand name in the country. Michael Ferreira, former World Billiards Champion and Padma Bhushan awardee, owns 80% stake in Vihaan Direct Selling with Malcolm N Desai holding the rest. Ferreira is already under the scanner of investigation agencies.
     
    Earlier, in February, Enforcement Directorate (ED) had registered a case in the Rs425 crore QNet scam for money laundering. The ED has named the multi-level marketing (MLM) company QNet Ltd from Hong Kong, its official franchisee Vihaan Direct Selling, Vijay Eswaran, the founder of QI group and three other independent representatives (IRs) of QNet from Mumbai. In a media statement, QNet, however, had described the money-laundering probe by ED against it as 'allegations that are preposterous and completely baseless'. 
     
    The EOW of the Mumbai Police, which is also probing the MLM fraud, had so far arrested nine team leaders of QNet for allegedly duping investors by offering to sell products such as magnetic disks, herbal products and holiday schemes through fraudulent practices. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978. 
     
    For weeks, former world billiards champion Ferreira avoided appearing before the EOW until a Mumbai court hearing his anticipatory bail application asked him to present himself before the police by 27th January. On 31st January, the Session Court extended till 17th February the interim protection from arrest granted to Ferreira in the QNet scam. He however, has been asked to attend EOW offices as and when required besides obtaining prior permission from the Court before going abroad. 
     
    The complainant, Gurupreet Singh Anand, a computer consultant from Lokhandawala, Andheri in his first information report (FIR) before the EOW stated that his wife was duped for Rs30,000 by some people who had introduced themselves as the independent representatives (IRs) of QNet. Anand told the police, “They (IRs) had said that one of the bio-products my wife bought could be used to treat my 12-year-old son's brain-related diseases.” 
     
    As reported by Moneylife, QuestNet and GoldQuest (previous avatars of QNet), the MLM companies that had shut shop in 2009 following police action are back with a bigger bang. They now call themselves as QNet and are thriving in an environment where tens of thousands of Ponzis and MLM companies are able to lure people into believing that they have the formula to instant riches and a high growth career.
     
    Although, Vihaan Direct Selling is the official franchisee of QNet in India, Suresh Thimiri, who is often touted as QNet India's chief executive and had denied any relationship with QNet or any of its representatives, owns the 'QNet' trademark in India through his company Transview Enterprises Pvt Ltd!
     
    Transview Enterprises is an associate company of Vihaan Direct Selling that handles QNet's MLM operations in India since 14 April 2012. Vihaan Direct Selling is a direct selling agent of QNet and had done large financial transactions with Mr Thimiri's company Transview. 
     
    Another interesting aspect in the whole episode is all top officials (?) of QNet India do not want to reveal their identity and remain hidden. Moneylife repeatedly sent emails to the company's official PR agencies and also some officials from its parent QI group but there is no information forthcoming.
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    User

    COMMENTS

    gurupreet

    12 months ago

    Hello Friends,
    We have been receiving hundreds of enquiries from QNET VICTIMS across India asking on how to join the FINANCIAL FRAUDS VICTIMS WELFARE ASSOCIATION (FFVWA) which is fighting for the LEGAL RIGHTS of the QNET SCAM VICTIMS in SUPREME COURT of India. You can contact us on WHATSAPP on 9137721819 .

    Congratulations to all FFVWA on our major mile stone and success in Supreme Court of India.

    Before proceeding further I would like to mention that we are contactable on WHATSAPP on 9137721819 and victims can contact me on Whatsapp on this number only as my two phones were stolen in Delhi and my main number 7498053701 could not be recovered.

    A brief summary on the need for forming the FFVWA is summarised in the two news stories below:

    https://www.mid-day.com/articles/qnet-forms-financial-fraud-victims-forum-scam-gurupreet-singh-anand/17659179

    https://www.mid-day.com/articles/victims-of-fraud-unite-to-catch-qnet-scamsters/19309192

    As you are aware we have successfully fought the best criminal lawyers appearing for QNET SCAM till date including lawyers like Kapil Sibbal, Salman Kurshid, Mahesh Jhetmalani, Abaad Ponda…the list is long. The fight is being fought on LEGAL GROUNDS with good FACTS and DATA. The fight has not been easy and but each and every court that I have appeared and argued my case In-Person I have won inspite of BIG MONEY POWER/PRESSURES etc from the QNET SCAM supporters.

    You can become part of our organisation FINANCIAL FRAUDS VICTIMS WELFARE ASSOCIATION (FFVWA) which is fighting for the LEGAL RIGHTS of the QNET SCAM VICTIMS in SUPREME COURT of India by downloading the membership form from

    DropBox at

    https://www.dropbox.com/s/2piy8eudhlz3oj6/FFVWA%20Membership%20Form.pdf?dl=0

    and filing it properly and sending it across by courier to:
    Anuja Kotecha (Joint Secretary)
    Flat no 701, Nazreth Niketan,
    Charath Singh Colony, Behind Dragon Fly Hotel,
    Andheri-east, Mumbai: 400093
    After having completed the form please take snapshots of the same and whatsapp to us on 9137721819.

    Please beware there are no short cuts to refund, stay away from individuals who promise you refunds illegally using various tactics. Stay united and fight for your rights LEGALLY.

    Regards
    Gurupreet Singh Anand
    Anuja Kotecha & FFVWA

    gurupreet

    3 years ago

    GOOD NEWS...QNET VICTIMS IN MUMBAI...DEDICATED QUESTIONS & ANSWERS SESSION FOR QNET VICTIMS on Sunday 18th September 2016.

    Ever since you lost your hard earned money in QNET SCAM, you all have multiple questions and facing multiple issues like :

    1. Where and whom to approach for recovering your hard earned money?

    2. How to help fight and stop this QNET SCAM?

    3. How to teach your CHEATER UPLINES a lesson?

    4. Issues regarding the “so called” “REFUND POLICY”.

    5. Are you eligible for “Compensations”?

    6. Issues regarding action buy police authorities.

    7. What is the status of the court cases etc.

    These are an example of just a few issues and concerns you are facing, but there is GOOD NEWS for you all. We have been working overtime to try and bring an end to these woes and issues faced by Victims of Financial Frauds like this QNETSCAM.

    So guys and girls tomorrow is the BIG DAY finally , Please do join us tomorrow (Sunday) afternoon at 1.30 PM sharp at Andheri east, outside Sarangi Restaurant (Just 1 minute from the Andheri station on the east side).

    Please do come and also inform other victims of the QNETSCAM.
    Tomorrow (Sunday) afternoon sharp 1.30 PM, outside Sarangi Restaurant , Andheri-east, Mumbai.

    Please note we have limited seats, first come first served basis allotment..so make sure to reach in time __/\__ . You can contact on 7498063701 in case of difficulty in locating us :)

    Jai Hind.

    REPLY

    lalitachaitu

    In Reply to gurupreet 3 years ago

    Hi buddy, it seems u didnt understand the concept of MLM. Its all legal and is like a part time job where u have 2 work,,Money doent come easliy.

    gurupreet

    In Reply to lalitachaitu 3 years ago

    Please call me on 7498063701 and make me understand

    jitu moni

    3 years ago

    http://timesofindia.indiatimes.com/city/hyderabad/4-persons-associated-with-MLM-company-arrested/articleshowprint/54204335.cms?null
    Four persons, who were associated with Hong Kong-based QNET, a multi-level marketing (MLM) company, and duped 200 persons by promising them jobs, were arrested by Central Crime Station (CCS) officials on Thursday. However, the MD and directors of QNET and its sister company Vihaan Direct Selling are still at large.


    Deputy commissioner of police (CCS) Avinash Mohanty said Sreenath Konda, Prasanna Kumar Reddy, V Kanchana, B Dhan Raj were arrested from different locations in the city for cheating people.


    Police said the accused had been enrolling gullible people as agents by collecting Rs 10 lakh from a group of 10 persons.


    Each person would be given status of promoter, direct them to attract a group (i.e., 10 persons) and make them join QNET by paying Rs 10 lakh, for which the promoter would be assured commission.

    jitu moni

    3 years ago

    http://zeenews.india.com/news/maharashtra/qnet-case-sc-directs-maharashtra-govt-to-file-latest-probe-report_1924693.html
    Mumbai: The Supreme Court on Thursday directed the Maharashtra Government to file the latest status report regarding investigation so far on the anticipatory bail plea of World Billiards champion Michael Ferreira and four others, who are facing charges of money laundering in the multi-crore QNet case.

    The next hearing in the matter will take place on September 14.

    Besides Ferreira, the others whose anticipatory bail plea were rejected were Malcom Desai, Vanka Srinivas, Maganlal Balaji, all directors of M/s Vihaan Direct Selling (India) Pvt. Ltd, and Suresh Themiri, director of Transview Enterprises.
    They are facing charges under Sections 420 (mischief), 468 (forgery), 471 (using forged document knowing it is not genuine) of the Indian Penal Code (IPC).

    Justice Mridula Bhatkar of the Bombay High Court, who took on record the statement of public prosecutor Pradeep Gharat that investigations were still on, had in May rejected their anticipatory bail pleas.

    Ferreira had started the operations of QNet, a multi-level marketing company, in India via his firm Vihaan Enteprises.

    The QNet cheating case began with a complaint by Gurpreet Singh Anand, who raised his voice after losing Rs. 30,000.

    According to the police, the money involved has crossed Rs. 1,000 crores in the alleged scam with more than five lakh investors allegedly losing their money in the case against QNet which is being probed by the Economic Offences Wing.
    ANI

    REPLY

    lalitachaitu

    In Reply to jitu moni 3 years ago

    Hi, it seems u didnt understand the concept of MLM. Its all legal and is like a part time job where u have 2 work,,Money doent come easliy.

    dinesh Kumar

    In Reply to lalitachaitu 4 months ago

    Stop cheating others.. You go to hell. Don't waste others people's life.. This is type of terrorism qnet is teaching everyone... Don't believe anyone in qnet they are terrorist..

    jitu moni

    3 years ago

    http://www.newsambit.com/eow-of-delhi-police-registered-case-against-qnet-india-and-its-irs/
    NewsAmbit, New Delhi
    Delhi Police Economic Offence Wing(EOW) has registered an FIR against QNET India/Vihaan Direct selling India Private Limited and its three independent representatives on the allegations of cheating and fraudulently operating the multi level marketing, which is illegal in India. Police have initiated the investigation and suspecting huge scam, which is estimated in crores.
    A senior Police officer of EOW said that we received a combined complaint against QNET India and its three independent representatives from more than dozen of people in the month of March this year. As per the allegations of main complainant Anuj Jain alleged that his friend Himashu Aggarwal approached him for an business opportunity. He said that he is an independent representative(IR) of an e-commerce based company. He said that he can arrange an meeting with the other IR’s who will tell you about the business and if they find you suitable you will get chance to be a part of the company. After few days Himanshu called Anuj Jain to come with a CV at a café situated in Nehru Place area on 29 November 2015. Anuj reached there, where he met with Himanshu and his to associates Anita Jaggi and Kanika. Trio told him about the business profile and also assured that this is not a networking marketing company. They demanded Rs 6.5 lakh to be a member of the company. They also said that company has millions of customers. IR of the company is treated as a partner and also got the profit share for each sale. After three four days Anuj gave them 6.5 lakh rupees but after some time he got to know that this is a multi level marketing company and fraudulently cheating innocent persons by roping them in it’s banned business with the help of IRs.
    Police said that Anuj is not the only complainant so many more complainants also approached to EOW. After which a preliminary enquiry had conducted. It was found that some persons who are termed as IR contact their friends and close persons to join a new e-commerce business. They don’t tell the name of the company or complete business module at the beginning. After alluring them they set various amounts from the victim. Independent Representatives(IR) get training during the joining and talk to make further members. These kinds of IRs of the company are operated from different cafes and food courts situated in Delhi and NCR.
    Those who join the company get user id etc and products like ravel packages, some other items etc are shown purchase from their money. The delivery address given in the portal is also found of overseas area most of the time and mostly that address is too fake type location only which shows that no products are being sold and it is a completely a money circulation scheme. Two websites were found involved in the namely www.unetindia.in and www.cmetindia.net were found mated to Vihaan Direct selling (India) Pvt ltd which is stated Indian Franchisee of Hong Kong based net company. Investigations are on. Police are trying to unearth the whole network of the IRs on which this company is running its business unlawfully in Delhi. A case has been registered u/s 420/120B/34 IPC and 4/5/6 of Prize Chits and money circulation Schemes(Banning) Act,1978 .

    Profiles of IRs
    Himashu works with Samsung
    Anita Jaggi works with RBS

    atul gupta

    3 years ago


    Be ready to fight against QNET and all your uplines including friend.
    Find QNET REFUND and FIGHT AGAINST QNET procedure as below.
    1st Option
    If your purchase on product receipts is in INR rupees then with in 30 days of purchase or if your purchase is in USD dollar then with in 7 days you can send email to Qnet customer support for refund otherwise Qnet will deny you refund. Then go to 2nd option which all need to go for even after you get refund to get QNET banned from India and to save our brothers & sisters.
    1. Get your IR ID first.It will come to your mail box once your upline register your email id on portal. If email id is given wrong then call Qnet customer support numbers and complain about your upline. Ask your IR ID and products purchased details from them.
    2. Send a cancellation mail to the support team of QNET with a subject line as "REFUND IN****".
    provinding all details of transactions and product details.Usually IR number will be like IN4444 and all. Attach scanned PAN CARD and product receipts in the mail to them.
    [email protected]
    [email protected]
    [email protected]
    [email protected]
    [email protected]
    3.Once this mail is sent, the support team will create a CRF number and sends to Hong Kong team for approvals for the refund request. It will take 15-20 working days for the approvals for refund request.
    4.Meanwhile, mail them or call them on every alternative days for an update.
    Numbers:
    9900060061,62,64,68-veronica
    9900060605-rekha,jasvinder kaur
    5.Once Refund request is completed ,they ask for the mode of payment.
    Ecards or Account Money transfer. Better go for Money transfer to your account.
    If you opt for account transfer, then you have to send a scanned copy of your account cheque leaf or bank statement.
    6.After 20 working days, you will get your money refunded of the product to your bank account.
    7.Rest of money left , you collect from your upline by filing complaint in local police station.

    2nd Option
    pls all go for 2nd option even if you get money refunded as per option 1 by QNET to ban QNET and save indians.
    File written complaint/FIR against your friend and all uplines at local police station and write in complaint that QNET is running money circulation scheme which is banned in india as per prize ,chit and money circulation scheme ,1978. Your uplines will be called by police and they will return you money through QNET or themselves as you can not get refund from Qnet after one month is over if products purchased through indian portal and after 7 days if purchased through world portal. Warn your uplines that you are going to file complaint/FIR against them. Besides above process kindly by post or by hand send your complaint to THE DCP, ECONOMIC OFFENSES WING, MANDIR MARG, DELHI also to ban QNET by using format of complaint given below.
    https://drive.google.com/file/d/0ByQ-yz2wwceEX3BEV3kxZlNkbDg/view?usp=drivesdk
    In your complaint attach uplines photos, mobile numbers, your bank account statement if you transferred money from your account to upline account or cash/DD deposit receipt, pan card, address proof, purchase receipts. Mention in your complaint that meeting took place nearby your home or office otherwise local police will ask you to lodge complaint at police station where actual meeting took place. File complaint at your nearby police station and EOW DELHI both to fight against QNET. Do not sign any affidavit asked by your uplines to give back your money. Please whatsapp me at 9871853120 only if any confusion.

    jitu moni

    4 years ago


    Bluru QNet agent who earned 50L a yr as commission held
    Mumbai: The Economic Offences Wing (EOW) has arrested Ram Singh, an accused in the Rs 1,000 crore QNet case, for earning Rs 50 lakh or more as commission each year from proceeds of the crime.

    Singh, a Bengaluru resident, was arrested last week after the imigration authorities at Bangalore airport detained him over a look out circular notice (LOC) issued by the Mumbai police. "We are going through all his bank account details and trying to ascertain the source of money to his account," said DCP Pravin Padwal of the EOW.

    Singh's name had cropped up during the initial investigation in 2013 but the police could not locate him then. In January 2015, a police team visited his Bengaluru residence but did not find him there. The house was locked. He is the 19th accused to be arrested in this case so far.

    "We are working to arrest all the culprits in this case. A special investigation team has been formed to nab the othe accused invovled," said Dhananjay Kamalakar, joint police commissioner, EOW. Singh, said police sources, has been sending money to his daughter who is studying in Canada. "We have to know his source of income. He has sent a major chunk of money to Canada. We suspect this money was gained from QNet. Moreover, he was looking after the QNet business in Dubai and has been shuttling between Dubai and India. We got his passport number late. Soon after getting it, we issued an LOC notice and he was detained," said an officer.

    A special MPIDA court in February this year rejected the anticipatory bail plea of Michael Ferreira (77) winner of the World Amateur Billiards Championship and a Padma Bhushan recipient, and four others, Malcom Desai, Vanka Srinivas, Maganlal Balaji, all directors of M/s Vihaan Direct Selling (India) Pvt Ltd and Suresh Themiri, director Transview Enterprises. They all have approached the high court now in the QNet case.

    "They posed as a marketing firm which would sell bio-discs, watches, herbal products, holiday packages, etc. They even claimed that by using the bio-disc, one can cure cancer and brain diseases," cops said. Some money has been transferred to Malayasia, Singapore and Hong Kong, too, cops added.

    jitu moni

    4 years ago

    Hello Everyone

    The company Qnet is celebrating VCon from 3-7 May. As a present,yesterday late night, I posted lot of comments on numerous pics uploaded on Instagram. I also posted on VChief Pathmans account. Unfortunately, they kept deleting my posts and had to ultimately block me. If each one of us, Indians, takes to instagram and starts posting messages like me, then they would have to either block us or abandon their account, which is their money making tool. You can start with Qnetofficial,TheV, Pathmans account, etc with phrases like Pyramid Scheme, Qnetscam, Franchise Fraud, Police arrests, court cases,Cheating, etc. They cannot stop us if we all work as one unit.

    Hope we all teach them a lesson and save other fellow Indians.

    Jai Hind

    REPLY

    lalitachaitu

    In Reply to jitu moni 3 years ago

    why do you have 2 post on their insta? i have earned 12000 in 2 weeks in QNet. why do u want 2 harrass them?

    jitu moni

    4 years ago

    http://www.asianage.com/mumbai/cm-devend...
    CM Devendra Fadnavis has assured detailed inquiry into QNet: BJP
    Chief minister Devendra Fadnavis has promised to make a detailed inquiry of the alleged irregularities by the QNet multilevel marketing company and take action against the offenders, said BJP spokesperson Madhav Bhandari on Saturday. Former union minister P. Chidambaram’s wife was a legal counsellor with the company.

    The QNet company, which was earlier known as Goldquest, has cheated 12 lakh people to the tune of thousands of crores of rupees. The court has rejected anticipatory bail to the accused in this case. When the CM was contacted about this, he promised to make a detailed inquiry and take action. If necessary, he said that the CBI’s help would also be taken, said Mr Bhandari.

    The party spokesperson demanded that the role of former Union minister P. Chidambaram and his wife needs to be probed in this case. “Mr Chidambaram’s wife was a legal counsellor of the concerned company. Taking note of complaint registered by a lawyer from Chennai, the Central Vigilance Department handed over the case to the CBI. The complaint also has a mention of former Union minister Shashi Tharoor. However, the CBI did not investigate the matter during the tenure of Congress government at the Centre,” he alleged.

    In Maharashtra, the wife of Gurpreet Singh Anand had in 2013 filed a complaint of fraud against the company. However, there was not much inquiry during the Congress-NCP regime. But since the court has denied anticipatory bail to other accused, including sportsman Michael Ferreira, the investigation can be expedited. Many sensational things are expected to come out in the investigation as the CM has promised to carry out a detailed probe in the case, said Mr Bhandari.

    jitu moni

    4 years ago

    Mumbai police seeks Zee business help in probe of QNet
    https://http://www.youtube.com/watch?v=RabPkRNutwU

    jitu moni

    4 years ago

    http://timesofindia.indiatimes.com/city/...
    A group of investors in the QNet multi-level market case on Sunday gathered near Holy Family Church and marched as a protest and public awarness against ponzi schemes. The protesetors reached at the house of accused Padma Bhushan Michael feriera in the QNet cheating case. The protesters were holding placards that read, Michel Ferriera Shame Shame! and Ban QNet".

    "We chose Bandra for protest since most of the accused in this scam reside here. We had informed the police in advance and stated that the peaceful march will be for awareness about such fraud schemes and protest against such ponzi schemes," said Gurpreet Singh Anand, the first complainant in the QNet cheating case. He added that thgough it was his birthday but he did not spend time at home and was busy in the awareness drive.
    Similar protests were held in New Delhi, Bangalore and Hyderabad on Sunday. Last month a special MPIDA court rejected the anticipatory bail plea of Michael Ferreira, winner of the World Amateur Billiards Championship and a Padma Bhushan recipient, and four others in the QNet case. They have approached the Bombay High Court for anticipatory bail. Ferreira, 77, and others had applied for anticipatory bail in 2014.

    jitu moni

    4 years ago

    http://timesofindia.indiatimes.com/city/...
    The economic offences wing of Mumbai police, probing the multicrore Qnet scam, has issued notices to Indian Super League (ISL) officials to gather details about taking sponsorship from the tainted company.
    Qnet had made celebratory association as the official direct selling partner of Goa Football Club (FC Goa) throughout the Indian Super League 2015 season, from October to December. FC Goa is a part of the ISL football league tournament. Sources said the police are trying to find out the how the proceeds of crime of a company under serious investigation, have been used to sponsor the team. Police are also baffled as how the Qnet managed to generate money when its accounts have been seized. "We have sum moned ISL officials to understand the amount and flow of money in their sponsorship from the Qnet company which had defrauded several investors," said an official.

    jitu moni

    4 years ago

    The fight against the Qnet scam wheré more than 7000 crores of rupees has been laundered out to foreign shores from India has just got bigger.

    The Saradha Scam which started mainly in Bengal looks relatively smaller compared to the Qnet scam which had defrauded people across various cities like Mumbai,Delhi,Bangalore,Hyderabad etc for over a period of 10 years.

    To unite and protest against this MLM scam plaguing India, all victims,activists, are requested that they gather outside Holy Family church,Hill Road,Bandra West at 10.30 A.M. tomorrow 24th April,2016.

    Various press and media agencies will be present to cover the event meet and address grievances to authorities.

    The current government has taken note of the Qnet scam and matter will be taken up at upcoming Parliament session.

    All Indians are cordially invited to support the cause and join in the protest. We need to end the scam by spreading awareness and recover the money taken away by the scamsters.

    A request to all to please forward this message on Facebook, twitter and WhatsApp groups... Jai Hind

    Kapoor Ajay

    4 years ago

    Hi Everyone, QNET is duping a very close family member and I want to bust them on their operating places like PVR Priya complex in Delhi. If anyone's in, let me know. Let's teach these bastards a lesson that they have no right to suck up genuine people's hard earned money. I also have high profile corporate lawyers team ready to try getting your money back. Contact me on +91 9650830497 Email: [email protected] All in public interest by a common man's voice.

    Pailan Group luring investors by promising high returns?

    Kolkata-based Pailan Group has been raising money through its agents who promise high guaranteed returns on various investment schemes. Some are finding it difficult to get their money back. Is SEBI aware of it?

    Despite the scandal over Saradha and other schemes, the Pailan Group of Kolkata continues to run collective investment schemes (CIS) through the network of its agents who promise high guaranteed returns. The financial instruments offered by the agent include debentures and various monthly income schemes (MIS). The Pailan Group claims it is into education, food processing, finance, sports, real estate, jewellery, healthcare, media and entertainment business and so far has collected a whopping Rs900 crore from investors without any permission from market regulator Securities Exchange Board of India (SEBI). At a time when the chief minister of West Bengal has targeted SEBI for the Saradha debacle, it is pertinent to ask whether the Palian group has come under the regulator's radar or not. More importantly, the group is not merely in collection mode, it is apparently finding it difficult to make payments already.

    A Moneylife reader, Suman Uppal has written to say that she has not received her interest and maturity amount. “I have been searching for news on Pailan Park Development Authority but surprisingly couldn't find any news of the company. It has closed all its offices in Kolkata after collecting Rs900 crore as debenture investments. Company Law Board (CLB) Kolkata says, as it issued debentures, they do not come under its jurisdiction. When I tried to file a complaint on Ministry of Corporate Affairs (MCA) website it did not work. Why are all news channels and websites silent about the case?” she asked.

    Pailan Park Development Authority (PPDA) Ltd, a Pailan Group company, has raised money by distributing secured redeemable non-covertible debentures through its network of agents. It also sold many monthly investment plans backed by gems and jewellery products. Company's official website explains its plans, which gives the option to buy its jewellery products, as well as, cash returns on its maturity. It is offering as high as 62.50% returns in five years.


    Investors are feeling cheated and have alleged Pailan Group and its founder, Apurba Kumar Saha that he is responsible for not paying their interest and principal amount even after maturity as per their debentures and MIS plans. Investors also said that its diversified business seems genuine hence they believed agents and invested in Pailan Group's company which later on turned away, regulators should put its founders behind the bars.

    There are many complaints against the Pailan Group by investors on the Internet. Here is what an investor has posted on consumercourt.in I purchased 300 units of secured redeemable non convertible debentures having face value of Rs1000 each from PPDA for a period of 15 years. It promised to pay a sum of Rs7500 per month from October 2012 onwards till the date of maturity. According to agreement, PPDA issued credit note (voucher) of Rs7,500 up to August 2013 but since September 2013, I haven't received any vouchers till now even after visiting their office and asking for my money. “Pailan Group is cheater, take drastic action against them, within the Ambit of law,” he wrote.

    Jayanta Banerjee, another investor from Kolkata, said on consumercourtforum.in that, “I have a policy of PPDA, CIS Scheme(Recurring Deposit). After maturity on 11 July 2013, I went to the Pailan office to withdraw my matured fund but the company's chairman Apurba Saha told me to come after some days. I went many a times but he denied giving me any money and stopped answering my phone calls. I already filed a complaint to SEBI. My maturity amount is over Rs1.36 lakh. My father is a cancer patient, I need money and company has not paid me till now.”

    A third investor says he invested Rs4 lakh in (Rs3.2 lakh in MIS plans and Rs80,000 in fixed deposit scheme) PPDA, but since July 2013, he has not received any interest as per the MIS plan. He also contacted the local office and head office but no one replied his complaints. He said he invested all his mother's assets into Pailan Group's plans on goodwill of the company but he has been cheated by them.

    One such agent advertised it in typical multi-level marketing (MLM) way, Pailan Park Development Authority provides “BEST EARNING OPPORTUNITY in both MLM & MONEY MARKETING Concept”. Another agent on his blog explained Debentures of PPDA as “Secure Government Debenture” with promise of 100% government as well as bank security and offers unbelievable 27% interest on Debentures per month!!!


    Earlier in February 2014, agents of Pailan Grop said at a press conference that they had filed a petition in the Calcutta high court seeking to recover Rs900 crore. They alleged that this group had lately turned delinquent, says a report from Mint newspaper.

    Last year in May, two functionaries of Pailan group who were collecting deposits from customers without valid permission from Reserve Bank of India (RBI) and SEBI, were arrested by Police. The police says functionaries of several chit fund group were arrested on charges of forgery, irregularities of cash transaction and lack of valid licenses as per reports from PTI.

    Moneylife has written several articles on frauds that lure gullible investors by floating various MLM  and CIS and frequently warned investors that “If it looks too good to be true, it usually is.” This is clearly another in the same category.

    Our email sent to SEBI, about the money collection schemes of Pailan Group remained unanswered till writing the story.

    Pailan Group founder, Apurba Kumar Saha



     

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    COMMENTS

    Smita Guha

    3 years ago

    I have also invested a lump sum in the Pailan group and it has been 3 years now...i have not received a single penny till now...i am running from pillar to post and yet have not received any reply... I request the judiciary of our state to take over and resolve so that we can get our hard earned money back.

    PINTU HAZRA

    4 years ago

    I HAVE ALSO INVESTED 18 LACKS IN PAILAN PARK & DEVELOPMENT AUTHORITY THROUGH A NO 1 CHITTER AGENT SAGAR DUTTA(SATINANDI) AT BARDHAMAN BRANCH .BUT THEY ARE NOT RETURNING ANY MONEY
    WHAT SHOULD DO NOW .DO NOT ANY RESPONSE FROM AGEN & COMPANY . HOW CAN I GET MY INVEST MONEY.PLZGIVE ME SOME SUGGESTION .& PRAY TO BOTH GOVT STATE & CENTRAL SOLVE THIS MATTER &SAVE US CONTACT NO -7093998451
    PINTU HAZRA

    Amit Kumar

    4 years ago

    Hello sir, i m Sarwan Kumar Shaw. I have also invested money in Pailan group. Now they are not returning my money.. what should do now?? How can i get my deposit money? Pls give me some suggestion. contact no- 8961721947

    S B BATABYAL

    5 years ago

    I HAVE INVESTED RS. 500000 ON 23/01/12 , I NEED RETURN THE DEPOSITED MONEY.


    S.B.BATABYAL
    07694925364
    E. mail : [email protected]
    Singur, Hooghly , West Bemngal- 712407

    S B BATABYAL

    5 years ago

    I HAVE INVESTED RS. 500000 ON 23/01/12 , I NEED RETURN THE DEPOSITED MONEY.


    S.B.BATABYAL
    07694925364
    E. mail : [email protected]
    Singur, Hooghly , West Bemngal- 712407

    S B BATABYAL

    5 years ago

    I AM S.B.BATABYAL(MOB-7694925364)AND EMAIL ID : [email protected]
    Invested Rs. 500000 in 2012
    I need return back the invested amount.

    SINGUR , HOOGHLY , WEST BENGAL

    Manoj Mishra

    5 years ago

    nother money scam in west bengal -- i have a difficutly geting my own money and there is a no response from any one --

    arindam das

    5 years ago

    hi friends as already stated before the Pailan Group had returned Rs 25 lack before the Hon'ble Shyamal Sen Commission of Inquiry in respect of the depositors /investors in relation to case filed by me.The Hon'ble Commission had already stayed the property sale transfer of the said group amounting to approx 2200 corer to safeguard the interest of the depositors .The next day of hearing is fixed on 9th September 2014 when the said company had been directed to submit a scheme in relation to refund of money .Arindam Das @Advocate High Court at Calcutta 9874966969

    REPLY

    SUDHAKAR

    In Reply to arindam das 5 years ago

    Hallo Sirji, Namashkar.
    pls, can you explain, what descision was taken on 9th Sep 2014 hearing of HC????
    Thanks.
    SHAHANE S S, AURANGABAD(MH)

    Chitra Roy

    5 years ago

    Hi...I am Chitra Roy. Last year my agent inspired me to do a Gems & Jewellery plan for 1 yr.I di a plan for Rs. 500/-, whose matured valued is 6825/-. I paid Rs. 500/- monthly till Feb.14. After that Agent has told that "Now Co. is not receiving no money, there is some problem.Now no need to make any further payment." My matured date was in June,14 and I have already invested Rs. 4000/-. Now my agent is saying that as per RBI's decision from Dec. Co. will return back all the money to all investors which is due from Sep., 13. I don't know whether it's true or wrong. I have just one question why any step not taken by our state administrator? Why till now all these frauds are freely lived in society? Is this our administration? Shame our state Govt.

    Gorav Kamra

    5 years ago

    Pailan cheated in haryana as well, they collected money and many ofices has been closed now, currently they are working in Rajasthan,now they are saying that they have sold out their company to GR group and they will return your money but there is no address or E-mail id of GR agro Group...
    Deepanjan in Senior management of Pilan clearly denied to return our money
    Mobile of deepanjan roy is 8697974486

    SUDHAKAR

    5 years ago

    HAI, I AM SUDHAKAR SHAHANE, FROM AURANGABAD, (MAH). I HAVE ALSO CAME IN TOUCH WITH FRAUD COY, I.E. PAILAN GROUP, THROUGH AGENT AND I LOST MY RS.50,000/- . I HAVE OPENED RD ACCOUNT FOR ONE YR, AND MATURITY DONE ON AUG 2013. ONE YR COMPLETED, BUT STILL, I DID NOT RECD MY PAYMENTS. APURB SHAH , IS A CHEATER ONE.

    arindam das

    5 years ago

    pailan returning money for 22 depositors on 24th July before Hon'ble Justice Shyamal Sen Commission in the matters filled by me

    sunita Agarwal

    5 years ago

    My name is sunita agarwal my agent code is hoko000901..Apurba Kumar Saha u cheater u cheat all the agent in pailan my recuring money n mu fixed deposit money is 400000/- rupees give me my money god will see u...cheater Apurba saha

    u k saluja

    5 years ago

    Kindly write an article about Micro Technologies India Limited (CMD Mr.Aditya Sekhar) and AVON Corporation Limited (MD Mr.Pankaj Saraiya) both Mumbai based company who have not paid money back to their matured FD Holders and now both the companies have gone into liquidation and stakeholders are suffering. Shareholders also suffering. Pl see comments posted on your website by so many small investors who are feeling cheated by managements of these two companies. Thanks u.k.saluja, New Delhi (a senior citizen)

    Arup Guha

    5 years ago

    My name is Arup Guha and I live at Naihati, 24PGS (N), Bappa (Mobile no. 8436071698,9153263917) & Biswajit Dey (Mo. 9609107396) from Hapra an agent came through my brother in-law (Joy Biswas)& convenience that Pailan Group is no. 1 money investor. They said 100% Bank Guaranteed & 100% Gov Security on Recurring Deposit. On that basis My Aunty was purchased a MIS scheme for 2 years 1 lakh & my brother also purchased a FD for 10 years.

    Now my aunty’ MIS period is over & asked them (Bapp & Biswajit Dey) to provide the amount (1 lakh). They told her that company is facing problem & delay to provide the maturity amount. Day another day she facing problem over 4 months, but no positive answered get them.

    Now she decide that she is going to take legal action.

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