After facing probe by the EOW of Mumbai police, QNet, its founder and associates will now face the ED sleuths in the Rs425 crore MLM scam
Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has registered a case in the Rs425 crore QNet scam for money laundering.
According to sources, the ED has named multi-level marketing (MLM) company QNet Ltd from Hong Kong, its official franchisee Vihaan Direct Selling Pvt Ltd, Vijay Eswaran, the founder of QI group and three other independent representatives (IRs) of QNet from Mumbai.
In a media statement, QNET called the money-laundering probe by ED against it as 'allegations that are preposterous and completely baseless'. "QNET as a matter of policy adheres to strong principles of legal business, transparency and corporate governance. All documentation pertaining to the operations of its Indian Franchisee Vihaan Direct Selling and its financial transactions have been provided to the investigators at the EOW. QNet reiterates that it is fully compliant with the rules and regulations of business operations under Indian laws," the MLM said in a statement sent by its PR agency, which does not have name of any company official or spokesperson.
The Economic Offences Wing (EOW) of 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.
QNet operates in India through its official franchisee Vihaan Direct Selling Pvt Ltd, which carries the company's brand name in the country. However, 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!
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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One of my friend came with this opportunity in the name of eCommerce first she did not inform anything about business and told she will arrange meeting with her co partner and arranged the meeting ITC gardenia hotel Bangalore on 31st jan 2018 i met the lady junjan nagpal the main king pin of this scam ( Got to know later ) and she just asked few questions like ehy you want to do business and all and explained that they are making money and took audi car and all she was just giving build ups like they are the only one living happy life and we all corporate employees are like beggars and came to point that we need to arrange 5 lakh as initial investment if you are serious about making money arrange and let me know through your friend i said okay and came back while travelling back i was recalling some point we discussed. when i asked about company she didn't told anything and skipped talk , when i asked about how to get customer she told through my contacts but when i asked how she told its our job to train that you dont worry. so i was confused with this later i discussed same with my friend anjum about my things i got in mind but she just tried to make me fool by saying big big words and lot of dream stories and pushing me to get a loan from bank so i thought of googling the things when i searched on eCommerce i found the below link . https://forum.indiaconsumercomplaints.com/threads/qnet-in-chandigarh-panchkula-mohali.2168/
When i saw the things in that i was shocked the each and every words are same like my meeting and i got to know its a huge MLM scam. Thank god i came to know everything before going in.even i sent all these things to my friend but still she tried to convince me that its genuine to be frank guys its legal company and also the business you will do is also legal but its illegal in the view humaity ground once you join this you have to cheat people like you got cheated to earn the money you invested.so be careful dont get in to there hand's . they are trained to do such kinda brain wash things. If you dont have ethics and human morals and also wan to loose your trusted ones go and join and fool people. or else create awareness in people. We cant do anything to them legally because they are doing everything in a legal way. But when see it in humanity ground its pure illegal and big scam!!!!
If you need more information please feel free to talk to me on 9980383838/8095383839.
Dont REGRET later if you miss this meeting, for which we are taking special efforts.
Please gather tomorrow i.e Sunday 23rd of July 2017 sharp 11AM at Sudarshan 35MM, RTC Cross Road, CHIKKADPALLI, HYDERABAD..
For answers to your questions
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 POLICYâ€.
5. Are you eligible for “Compensations�
6. Issues regarding action by 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 coming Sunday i.e 23rd of July 2017 is the BIG DAY finally , Please do join us at 11AM at the above mentioned address and the location is also attached here with.
Please do come and also inform other victims of the QNETSCAM in Hyderabad, Telangana and Andra Pradesh.
For details WhatsApp me on 7498063701 or call on +918978700018 and speak to Mr. Raghav.
Please pass this important message on all WhatsApp groups, Facebook and Twitter etc so all victims of QNETSCAM in Hyderabad and around can attend.
Those who are attending please confirm in advance as we have limited capacity onlyðŸ™
Jai Hind
The Economic Offences Wing (EOW) of the city police arrested a woman in her early 30s on Thursday for her active involvement in the multi-crore QNet scam. The total number of arrested accused has now reached 47, which includes Billiards champion and Padma Bhushan recipient Michael Ferreira.
In the Rs 1,000-crore scam of Hong Kong-based company QNet, nearly 5 lakh investors across the country were duped. QNet has been accused of using the banned binary pyramid business model for its multi-level marketing schemes to lure investors.
QNet posed as a marketing firm selling bio-discs, watches, herbal products, holiday packages, etc. It also claimed that by using the bio-disc, one could cure cancer and brain diseases, the police said.
Too much baggage
Accused Aditi Mitra was intercepted at the Chhatrapati Shivaji International Airport, and subsequently, arrested based on the lookout circular that had been issued against her.
Assistant commissioner of police Arun Jadhav confirmed her arrest said she was sent to police custody till March 23.
Mitra was allegedly trying to flee to Dubai for good. She was carrying eight big bags and two handbags. Of the eight, two contained her belongings; she refused to say what was in the other six, sources said.
Mitra, an independent representative associated with QNet, had been getting hefty commissions in return. She has multiple bank accounts, with one alone having Rs 25 lakh, as EOW officials found, adding that all her bank accounts have been frozen.
Active player
Investigators found that on the instructions of the other accused, Mitra was actively involved in the scam. She had brainwashed victims in order to induce them to invest in the scheme,†said special public prosecutor Pradip Gharat.
A victim, Sewri resident Arpita Majarekar, said, “She would conduct welcome sessions in malls and trap people with her sweet talk.
She had promised me and many others that if we invested in the scheme, we would get double the amount in three years.†Majarekar, who works in a private firm in Andheri, had invested nearly Rs 12.5 lakh in the scheme through Mitra.
She has been booked under relevant sections of the Maharashtra Protection of Interest of Depositors in Financial Establishments Act, Prize, Chits and Money Circulation Schemes (Banning) Act, and the Indian Penal Code.
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 POLICYâ€.
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.
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.
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
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
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.
http://timesofindia.indiatimes.com/city/mumbai/EOW-to-now-probe-celebs-role-in-QNet/articleshow/52333087.cms
Mumbai: The city's economic offences wing (EOW) is now looking into allegations that several Bollywood celebrities campaigned for the cheat firm, QNet, through advetisements or by promoting the schemes of the self-proclaimed marketing firm.
Gurupreet Singh Anand, complainant in the Rs 1,000-crore QNet cheating case, on Wednesday said at least four Bollywood actors promoted the Ponzi schemes at different times in the QNet's promotional programs in United Kingdom and Malaysia. He has submitted a 23-page letter wherein he has attached the celebrities' pictures promoting the programs.
"I have submitted letter and all the relevant information to the EOW on May 12. I am hoping some action soon," Anand told TOI. He alleged that the money was laundered from India to Hong Kong and Malaysia.
Anand was speaking at a press conference where suddenly a group of QNet sympathisers appeared with "I trust QNet" placards.. They were later asked to leave the conference room.
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
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.
https://http://www.youtube.com/watch?v=RabPkRNutwU
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.