Kerala Police arrest Amway India chief, two directors
Moneylife Digital Team 27 May 2013

Amway India chief William Scott Pinckney and two other directors are arrested by Kerala Police over financial irregularities

Crime Branch officials of Kerala police arrested Amway India’s managing director and chief executive William Scott Pinckney and two other directors of the multi-level marketing (MLM) company, says a news report from Mathrubhumi.com. The names of the directors are not yet confirmed, but according to initial reports, it may be Sanjay Malhotra and Anju.

 

According to the report, the arrests have been made in relation to two cases of fraud registered against the Pinckney in Wayanad district of Kerala. The Amway India chief was in the state to secure anticipatory bail in these cases. He already got a bail in another case registered against him in Kozhikode district.

 

Earlier, the Crime Branch had seized products worth Rs2.5 crore from various godowns across the state and arrested the Kerala chief of the company.

 

There were complaints that Amway had supplied new products to distributors at high price. Lakhs of rupees thus collected was invested in the insurance business, the report said.

 

A probe into the multilevel marketing firm found that products that were Rs37 was sold to consumers for Rs 395 as MRP.

 

Last year in November, the Economic Offences Wing (EOW) of Kerala Police, conducted searches at the offices of Amway at Kozhikode, Thrissur and Kannur as part of its crackdown on money chain activities and closed down the firm's godowns at these centres. Products valued at Rs2.14 crore were also seized.

Comments
jitu moni
9 years ago
Lets spread it friends

http://www.business-standard.com/article...

Two top representatives of QNet, a Hong Kong-based multi-level marketing company allegedly involved in a Rs 425-crore fraud here, were arrested today after being picked up from Delhi international airport, police said.

The controversial company's senior independent representatives, identified as Sandeep Kalra and Hitesh Miglani, were intercepted by immigration authorities at the Indira Gandhi International Airport at Delhi last night, said an officer with Mumbai Police Economic Offence Wing (EOW).

The duo, who arrived from Dubai in separate flights, was stopped at the airport as Look Out Circulars (LOC) were issued against them by the EOW probing the case.

The two suspects, who were suspected to have had pocketed lakhs of rupees through the scheme and organised several training camps to lure investors, have been subsequently brought to the metropolis and placed under arrest this evening, police said.

The LOCs have been issued against those whose statements have been necessitated in the probe but did not appear before the investigators despite summons.

Kalra hails from Delhi while Miglani is from Bangalore, police said adding that this is the first arrest of those against whom LOCs had been issued.

The EOW had earlier arrested 15 persons for allegedly duping investors by selling QNet products, including magnetic disks, herbal products and holiday schemes, through allegedly fraudulent means.

The EOW has invoked the stringent Maharashtra Protection of Interest of Depositors (MPID) against the company which has denied any wrongdoing on its part.

QNet has also been accused of using the banned binary pyramid business model. An FIR in the case was registered in August in 2013.

The accused had been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.
gurupreet
1 decade ago
Fatwa against the nature of business in which QNET indulges…

Some IR asked this question emphasizing again and again on the word “HALAL PRODUCTS” but the council answering this question sees through the EVIL DESIGN and pronounces this business of “NETWORK MARKETING USING WATCHES AND JEWELLERY AS HARAM”.

Question: 20938
Saudi Arabia
I want to know about one business. Which is as following. Sir the business name is network marketing. The process is that I buy one product which is truely HALAL.e.g wathces, Jewellery etc. Aftre buying the product the company from where I bought the products asked me whether you want to become our business parter If I said Yes. Then I become the business partern of that company. And the money I paid to buy the product is my investment. Now if some more persons come to buy the product from this company through my refrece. Then company will give me commission let say 3% to 6% of each product. and the products are truely HALAL. And there is no cheating also. If I make the marketing of this company and asked the people to buy more product from this company then my i will get profit. If i stop then i will not getting anything. Please let me know whether this business is HALAL or not ... i shall be very thankfull to you if you email me this answer.
Answer: 20938
Mar 28,2010
(Fatwa: 548/L=186/tl=1431)

Network marketing involves cheating and invalid condition. Also, it involves earning profit by unlawful means; hence this business is unlawful according to Islam. It is not lawful to become a member of the company and receive profit.

Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband

The FATWA can be seen here http://darulifta-deoband.org/showuservie...


gurupreet
1 decade ago
Seminar of Illegal MLM/Money circulation/Binary Marketing Schemes on 20th of September 2013 at 3.30 Pm, Free entry, Please register A.S.A.P.

Come on Friends a golden opportunity for us LIKE minded people to come together and share our thoughts and experiences regarding this menace being played in India on the name of MLM/Network marketing and what not. LETS MEET !! YES !!

Saradha, Speak Asia, QNet, City Limouzine, StockGuru India, Sahara, MPS Greenery, NMart Retail… All these start as hot, new, investment opportunities and as alternative careers that offer high earnings and ways to escape the drudgery of 9-to-5 jobs. But, eventually, most of them fetch only small additional income and, worse, encourage you to lure and mislead your closest friends and relatives. You need to know how multi-level marketing (MLM) schemes and ponzis can destroy a large chunk of your savings or push you into debt. Understand the mechanics of these schemes, the laws that are applicable to them and why regulators fail to rein in dubious enterprises before they cheat thousands of people. Understand the basics of how to keep your money safe—the first step to smart investment! Collective investment schemes are not even under SEBI's regulation.

Sucheta Dalal, founder trustee of Moneylife Foundation and Managing Editor of Moneylife magazine, is one of the best known financial journalists in India. She has worked with many of India's leading newspapers including Times of India, Indian Express, Economic Ti mes and Business Standard. She was awarded the Padma Shri in 2006 for her investigative journalism spanning over 25 years which included exposing the Harshad Mehta scam in 1992. Sucheta Dalal will be conducting this seminar.

For registration please Contact:
Seraphina / Komal
at 022-49205000 or
email [email protected]
Log on to
foundation.moneylife.in


gurupreet
1 decade ago
This video is so FUNNY, every one should watch it..will lighten up your day :)

http://www.youtube.com/watch?v=UkuPGLEjv...

Say thanks to creator James for doing this :)
gurupreet
1 decade ago
All these words or sentences means the SCAM called QNET…

Listed below are some of the lines or words which mean nothing but QNET aka SCAM

Owner at Global marketing project
A Visionary at Global Marketing Project
Retired at I am THE COMPANY
e-Entrepreneur ! at Entrepreneur
Co Founder at My Office My Health
Global Marketing Projects at E- Enterprenuer
Works at Self Employed and Loving It!
Global Partner at Qnet
Worked at I am unemployable
Business Owner at Business Owner of a Global E-Franchise
Worked at Qnet
Past: THE V and QNET | Faith Egypt | Team Bring It

Global Entrepreneur at QNET (Official)
Past: InService Brotherhood Bootcamp
Works at Achieving the Dream
Chief Executive Officer at Unemployable
Works at Retired
Prosperity Consultant at Faith - Empowering You, Life & Business Coach, JPO Consultant, Networker at Tigers - Leveraging Vision andIndependent Consultant at QNET (Official)
Past: Genpact
Studies Leadership management style at Swiss E-learning Institute
Former Partnership at QI intl
Works at Self Employed and Loving It!
Worked at Honkong Based Multi Billion Dollar Company
Worked at Self-Employed (Business-Entrepreneur)
Retired of a JOB at Social Entrepreneur
Partner at ßusiness of Imp0rts & Exp0rts
Owner at E-Entrepreneur
Works at Qnet.net
Chief Executive Officer at Briltime Corp


If you see any of the above keywords on social media profiles of people trying to catch up with you ..just RUN RUN RUN :P

Regards

Sagar Bhambri
1 decade ago
Business Standard - Corporate Affairs Ministry Supports Amway, commenting on incident they said that it "is disappointing that such an eventuality came about."

Link to the article - http://www.business-standard.com/article...
Sagar Bhambri
1 decade ago
Amway CEO is a Victim of Obtuse Policy - Economic Times.

Link to the article - http://economictimes.indiatimes.com/opin...

Further development in the above mentioned case.

Sagar Bhambri
1 decade ago
Post Amway arrests, industry demands regulations for genuine direct selling companies - Economic Times. Link to the article http://economictimes.indiatimes.com/news...
Qnetvictim
Replied to Sagar Bhambri comment 1 decade ago
We also have a bigger Multi level marketing or chain marketing scam by Qnet going on in big way, the minimum amount with this scam is 1 lakh, techiques and wealthy people are being targeted.

Modulus Operandi: Call wealthy friends and relatives to Cafe coffee day, get them a costly drink first, then tell them about e-commerce is the best thing on earth and tell all the big names who are into this business, mesmerise them and tell them they will become crorepathi in few months, finally close the transaction on the same day, don't allow the person leave cafe coffee day without signing.

If you want to see yourself, just visit CCD hsr layout,Bangalore on Saturday and Sunday, CCD will be full with around 50 to 100 people doing this activity.

Please publish this and create awareness among the citizens and avoid them getting cheated.
Sagar Bhambri
1 decade ago
Ficci Condemns Amway India CEO Arrest. The arrest was unwarranted - http://zeenews.india.com/business/news/c...
Tex
1 decade ago
Amway is a scam. Google "Stop The Amway Tool Scam Wordpress" for more information, and forward this to every non-Distributor/IBO you know, so they don't get scammed.
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