QNet: FDSA too rejects Vihaan's membership application
QNet, the controversial Hong Kong-based multi-level marketing (MLM) company, has been trying hard to get support from its peers, but with no success. While a few powerful members are not allowing QNet’s entry into the Indian Direct Selling Association (IDSA), its franchisee Vihaan Direct Selling (India) Pvt Ltd’s application too has been rejected by the other association, Federation of Direct Selling Association (FDSA)
 
According to documents seen by Moneylife, the FDSA has rejected membership application of Vihaan Direct Selling (India) Pvt Ltd. Michael Ferreira, former world billiards champion, owns 80% stake in Vihaan, while the rest is owned by Malcolm Desai. Both Ferreira and Desai, along with Vihaan's directors, Magaral Balaji and Srinivas Vanka, were arrested by police in October in the multi-crore QNet scam.
 
While rejecting Vihaan's membership application, FDSA said, "The Federation is repeatedly being approached by Economic Offences Wing (EOW) of Mumbai Police seeking various information regarding the company (Vihaan). The (Scrutiny) Committee feels it has collected the information about the pending court cases and is serious on the sub-judice status of the company. The Committee feels that the sub-judice status of the company (Vihaan) will jeopardise the faith of the government/ industry bodies in the Federation, hence recommends that the company need to come out clean before being considered by the Federation."
 
Srinivas Vanka (V Srinivas Rao), the operations head of Vihaan, has been trying hard to get membership of FDSA. He met and tried to convince FDSA officials several times. In the letter, the FDSA says, "...during the personal meeting at Hyderabad, we have received your logics (sic) and justification on your defence over what is happening in the field. You may be right at your end, but what image you carry is more important, which is created by the activities seen at ground level."
 
The FDSA, in the letter dated 17 April 2016 also says Vihaan is in the recruitment business rather than retailing, allowing an independent representative (IR) to open as many as 21 business centres under one ID. The letter says, "...the company revenue proportion of ID activation sales and retailing sales, clearly indicates that new recruitments is the only business in focus, not retailing." 
 
FDSA says that according to its code of conduct, products from members should be reasonably priced, have optimum utility and be re-saleable. "Your (Vihaan's) core product, the holiday voucher is one such product, which is not falling in line with our FDSA norms. The magnetic pendent is another product falling in grey area, which has notional value...the Committee is not satisfied and considering your product line unreasonable for the masses where from the company (Vihaan) is currently collecting its major revenues," it added.
 
The rejection letter from FDSA also raises questions on refund and indiscipline in Vihaan, citing complaints it received from people who claim they have been dragged into QNet. FDSA says, "At ground level, it is a common practice that the IRs put soft pressure on a prospect for depositing couple of lakh rupees in the company. If the prospect is not having the funds, a personal loan is processed in no time under some arrangement with the branch manager of the bank. This is a case of lawlessness amongst the IRs and poor control of the company on them. You cannot do away this fact by classifying this as an act of unsatisfied people. The Committee considers this as no less than disguised money circulation and gross indiscipline in the industry."
 
Vihaan’s application for membership of FDSA also reveals how its director V Srinivas Rao also misled the courts of law across the country. He had repeatedly stated in his submissions before the courts that he had resigned as director from Vihaan in August-September 2014 and thus had no links to the QNet franchisee thereafter. However, the application submitted to FDSA is dated 16 December 2015 and mentions V Srinivas Rao as head of operations of Vihaan. 
 
Earlier in October 2016, Ferreira and two others surrendered before a Special Court following orders from the Bombay High Court. In September, the HC had asked five prime accused, including Ferreira, Desai, Srinivas Rao, Magaral Balaji and Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, to surrender as per the directions passed by the Supreme Court in the QNet scam case.
 
Ferreira and the other three were later arrested by the Hyderabad police. They are now lodged in Taloja Jail, near Mumbai, in Maharashtra.
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COMMENTS

Vijay Raval

5 months ago

i am in still confused why goverment allowed pyramid business in country

gurupreet

1 year ago

💥📣 HYDERABAD QNETSCAM victims meeting update 📣💥
Dont REGRET later if you miss this meeting, for which we are taking special efforts.

Please gather tomorrow 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 POLICY”.

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 only🙏

Jai Hind

gurupreet

1 year ago

#QNETSCAM & SUPREME COURT MATTER UPDATE - Please read till the end.

Dear Members,

Jai Hind to all. As you are aware I have had fought the QNET SCAM since last 4 years and devoted all these years full time towards taking effort to expose the QNET SCAM because of which millions of innocent people in India are loosing thier hard earned money and due to my efforts the #QNETSCAM had almost come to a stand still.

This fight has had taken a HUGE effort and affected my personal and professional life beyond what can be explained here, though all cases in which I appeared had verdicts coming in favor of the victims of #QNETSCAM

In Bombay High Court and the Supreme Court I have faced the best and most expensive lawyers in India like Mahesh Jhetmalani , Kapil Sibbal, Salman Kurshid , Dushant Dave etc but they could not protect the accused involved in the #QNETSCAM till recently when...

These accused cheated and played FRAUD upon the Supreme Court and obtained an stay order on all proceedings against QNET all over India. It is very very Important for all of us to come together and unite so that this fraud can be exposed and correct facts are brought before the Supreme Court.

To carry forward this fight further I need to move to Delhi and need support from you all without which this fight will come to an end. I request Donations from you all for fighting this #QNETSCAM which is destroying lifes, families and careers and thousands of crores are being laundered out of our country India.

I request donations and the same can be send thru Bank transfer or deposits in my bank account number as below:

Account number: 32280724593

BANK:
state bank of India, Lokhandwala branch


IFSC: SBIN0013204


Name as in bank records: Gurupreet Singh Anand

You can also donate via Paytm on 7498063701. Any donations big or small are welcome.

Other help in form of a place to stay in Delhi and if anyone has an extra activa or similar gear less two wheeler which I can use is also welcome. If you think you can help in any other ways please whatsapp me on 7498063701

Regards

Gurupreet Anand



Please pass this message to all groups, Facebook, Twitter, activists, members and victims of QNETSCAM, please join the fight in exposing the biggest ponzi scheme in India and stop the money being laundered out of our country



Vande Matram

jitu moni

2 years ago

http://www.mid-day.com/articles/qnet-case-scam-mumbai-news-mumbai-airport-arrest-eow-aditi-mitra/18084164
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.

gurupreet

2 years ago

QNET VICTIMS please beware of this shady character one Mr. Rafiq whose posing as an "High Court Advocate & RTI Activist" at various online web sites.

This guy is a sweet talker and will promise you refund from QNET if you appoint him as an advocate, he is doing nothing but cheating your further...here is his modus operandi...

He also claims to be behind several actions that have been taken place by mumbai police and FFVA but the FACT remains that he has nothing to do with any of these actions being taken all over India.

He will convince victims to appoint him as an ADVOCATE and thereafter tell victims to deposit Rs 50,000 in various bank accounts to show that he has been apponited.

He will promise that he will return back the money after showing that to QNET office but the FACT remains that after the money is transferred he will stop recieving your calls and vanish .

We have recieved multiple complaints against this FRAUD, please BEWARE you all have already been cheated dont get cheated again.

For your REFUNDS only follow the correct and LEGAL way to get your refunds along with compensation, for more info do drop us a email at [email protected]

FFVA i.e Financial Frauds Victims Association has been formed to help and provide legal aid to victims of QNET SCAM.

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

Please stay away from crooks and fight for your legal rights in correct and proper way.

Regards
Gurupreet

REPLY

sachin hadap

In Reply to gurupreet 2 years ago

Sir first of all a grt complinent n salute to you for your crusade against D fraud companyQnet.
For last couple of years , d time this Qnet scamwas unearth by you i have been closely following d steps taken by you.Bur to be honest i was afraid to come forward & file a complaint against Qnet.As i am too a victim of this scam.My friend lawyers suggested menot to file acomplaint as d case will go on in court for years with very little chance of getting d money refunded.Can you kindly guide me and my other friends what we should do?

jitu moni

In Reply to sachin hadap 2 years ago

Very simple. Procedure of complaint posted in our facebook page Qnet Scam the first post

Varun Pandey

2 years ago

As far as I know and google also says same, QNET is member of WFDSA and also key member of DSA of Singapore, Malaysia and Indonesia....Singapore have more toughest laws than India and I am sure they have accepted QNET with lot of scrutiny only.

REPLY

jitu moni

In Reply to Varun Pandey 2 years ago

Parliament list of Ponzi companies are Goldquest and Questnet. Qnet , its new avatar already in ED radar. ahahahahah

gurupreet

In Reply to Varun Pandey 2 years ago

why dont u shift to these countires and do your scamming there?

Agyat Vyakti

2 years ago

read modus operandi of qnet here qnetindiascam.blogspot.in please share and aware

Pradeep

2 years ago

All their big Daddys are living comfortably in Various countries with whom India has extradition treaty. Wonder why interpol notice is not served n guilty are brought back to India.

REPLY

jitu moni

In Reply to Pradeep 2 years ago

Because people are not coming forward with their complaints in large numbers

Rajesh Mehta

2 years ago

Why there is delay in final judgement of Bombay High Court for petition filed by Q Net Ltd.And why Indian Government is not issuing unbaileble arrest warrant against Mr.Vijay Eshwaran and other founders of Q Net Ltd.

REPLY

gurupreet

In Reply to Rajesh Mehta 2 years ago

Bombay High Court has already held its a "Prima Facie Illegal Scheme" arrest warrants have already been issued check ur freaking FACTS

vimlesh

2 years ago

Vihaan and its roor company should be banned. They are looting my country and nation as a whole. I knoe these people very well.these are rascals. They will paralyse India. Should not be allowed to operate. Difficult to explain in words.

atul gupta

2 years ago

Qnet and its franchisee Vihaan direct selling india pvt ltd based at bangalore are running money circulation scheme which is banned under PCMS act 1978 in India. Qnet/Vihaan IR are looting and duping their relatives and friends through luring them at coffee shops in all over india in name of business opportunity and partnership but infact they are trapped into cheating game where all prospects trust on their friends/relatives and after giving lakhs of money to Vihaan/Qnet IR they try to cheat their friends/relatives further to get back their trapped money in Qnet/Vihaan. So please beware of this biggest and oldest scamster and fraud MLM company like QNET/VIHAAN.

REPLY

Agyat Vyakti

In Reply to atul gupta 2 years ago

share on your social network read modus operandi of qnet here qnetindiascam.blogspot.in please share and aware

QNet: Hyderabad Police arrests Michael Ferreira & three others; ED questions Boman Irani’s son
Tough times for Michael Ferreira, former world billiard champion and three others arrested in the QNet scam case in Mumbai continue. All four have now been arrested by the Central Crime Station (CCS), a wing of Hyderabad Police in the multi-crore QNet scam case, even while their remand period in Mumbai is not completed. Last week, a special team from Hyderabad Police had submitted an application to a Court in Mumbai seeking custody of Ferreira, Magaral Balaji, Srinivas Vanka and Malcolm Desai. These main accused in the QNet scam were brought to Hyderabad from Mumbai on a prisoner transit warrant. "They have been brought here as part of further investigation and will be interrogated," a senior police officer from the CCS had said.
 
Meanwhile according to a report from India Today, the Enforcement Directorate (ED) had questioned Danesh Irani in Mumbai for at least four hours on Tuesday and recorded his statements under the Prevention of Money Laundering Act (PMLA). Danesh is the son of Bollywood actor Boman Irani. But more about it later. 
 
 
In September 2016, Hyderabad City Police arrested four independent representatives (IRs) of QNet for cheating about 200 people under the pretext of giving a job and collecting around Rs2 to Rs3 crore. In a release, the Hyderabad Police stated that cracking QNet case, they arrested four accused Sreenath Konda, Prasanna Kumar Reddy, Kanchana Vobbilichetty and Beemarthi Dhan Raj, who hatched plan to grab money from the innocent people on the name of providing job in e-commerce business through their websites, www.qnet.et and www.qnetindia.in. 
 
Earlier this month, Ferreira, and two others surrendered before a Special Court following orders from the Bombay High Court. Last month, the HC had asked five prime accused, including the four, who are now in Hyderabad Police custody, and Suresh Thimiri, director of Transview Enterprises India Pvt Ltd to surrender as per the directions passed by the Supreme Court in the QNet scam case.
 
Ferreira owns 80% stake in Vihaan Direct Selling (India) Pvt Ltd, which is franchisee of QNet while Desai holds the rest. Magaral Balaji and Vanka are directors of Vihaan. Last month, all the five prime accused had approached the Bombay HC seeking to quash the first information report (FIR) filed by Gurupreet Singh Anand as well as a stay on coercive action against them by the authorities. A division bench headed by Justice Abhay Oka, while refusing to grant any relief, asked the five to surrender before authorities as per directions from the apex court.
 
Last month, the Supreme Court, while accepting Maharashtra's standing council Nishant Khatneshwarkar's argument that the accused have failed to join the investigation and the charges are serious, had directed the five to surrender within a week.
 
Earlier in May, the Bombay High Court had also rejected bail plea of these five associates of QNet. While rejecting anticipatory bail applications of five accused the HC had observed that "the deceit and fraud is camouflaged under the name of e-marketing and business". This scheme is undoubtedly a multi-level marketing (MLM) activity and a pyramid structure of such scheme is prepared so that the members are promised to get money on purchase and sale of products, the Court had said.
 
In a hard-hitting order on 6 May 2016, Justice Mridula Bhatkar of the Bombay HC had said, "The motto of the company (QNet) 'sell more, earn more' appears very attractive and innocuous. However, this motto is fully camouflaged. The company stands on a basic statement that people can be fooled. Thus, the true motto is 'sell more earn more' by fooling people. In fact it is a chain where a person is fooled and then he is trained to fool others to earn money. For that purpose, workshops are conducted where study and business material is provided with a jugglery of words, promises and dreams. Thus, the deceit and fraud is camouflaged under the name of e-­marketing and business."
 
"It has very grave and serious impact on the economic status and mental health of the people on a large scale. On considering parameters of section 438 of the Code of Criminal Procedure, I am not inclined to protect the accused. It won't be out of place to mention that such circulation is required to be stopped. It is necessary for the prosecution to take injunctive steps against this business activity, which is prima facie, illegal. Though by stopping this business, a large group of people may get financially affected, however, it will save larger groups of people from becoming prey of this activity," the Bombay HC said. 
 
"I have gone through the plan which is given by QNet to every individual representative (IR)," Justice Bhatkar had said. "I have gone through the statements of many witnesses, who claimed that they have been cheated under the scheme launched by QNet. I have also considered the conclusive report of Serious Fraud Investigation Agency (SFIO) under the Company Act) SFIO Prima facie, there is material to hold that the business conducted by Qnet is covered under PCMC Act and also under Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954."
 
"However," the Bench added, "the things are not as straight as they are perceived on the surface. Assuming that the scheme was launched with a noble object to give benefit to maximum people to make money quickly and easily by selling products of the company, however, after going through the material placed before me including the statements of the witnesses, I am of the view that in the mid­way, the intention of the applicants/ accused, who are the directors and shareholders of the company, became dubious. They had knowledge that more members are suffering financial losses and they are not satisfied with the products. The claim that the wellness products i.e., Biodisk and Chi Pendent are medicinal and spiritual products, are after all, a matter of faith. However, the applicants/ accused have launched these wellness products with ulterior motive and with correct judgment of vulnerability of the people. The holiday packages, which were sold or offered, without any choice left to the buyers. The entire business was Internet based and, therefore, the persons who are responsible i.e., the top brass i.e., the applicants/ accused, were not approachable to the persons who were aggrieved. The nature of the business was knitted in the interest of the Directors and shareholders in such a manner that the persons who are at the lower level of the pyramid cannot get any access to put up their grievances. The manner in which the persons were contacted, incentives offered, the workshops were conducted, are best examples of inducement."
 
Earlier in May 2016, Gurupreet Singh Anand, the original complainant in the QNet multi-level marketing (MLM) scam had demanded a detailed probe of the role played by Bollywood stars like Shah Rukh Khan, Aamir Khan, Anil Kapoor, Boman Irani and Pooja Hegde, in promoting the company. He had filed a complaint against Bollywood actor Boman Irani and his son for allegedly aiding and abetting the scam in India. In his complaint, Anand had provided details like training conducted by Mr Irani at Khandala. (Read more QNet: Complaint filed against actor Boman Irani and his son) Anand also highlighted the involvement of another actor Pooja Hegde in the QNet scam. Pooja is daughter of Latha and Manjunath (MS) Hegde and was featured in the Hrithik Roshan starrer Mohenje Daro, released this year. In August 2013, the EOW had arrested Bandra-based Manjunath Hedge for cheating in the QNet case. 
 
Before that in February 2016, the special Maharashtra Protection of Interest of Depositors (MPID) Court had also rejected anticipatory bail applications of these five. The Economic Offences Wing (EOW) of Mumbai Police, which is probing the case, had invoked the stringent MPID Act against controversial multi-level marketing (MLM) company QNet, which has denied any wrongdoing on its part.
 
Gurupreet Singh Anand, a computer consultant from Lokhandawala, Andheri in his first information report (FIR) stated that his wife was duped for Rs30,000 by some people who had introduced themselves as the independent representatives (IRs) of QNet. 
 
While arguing before the HC in person, he had contended that the illegal money circulation scheme is being conducted in India by changing names from GoldQuest to QuestNet to the current QNet.
 
Earlier, the SFIO in its detailed ‘secret’ report on GoldQuest International Pvt Ltd and Quest Enterprises India Pvt Ltd has called multi-level marketing (MLM) schemes run by overseas operators as “a potential threat to national security”. 
 
QNet, the controversial, Hong Kong-based operator uses multiple names for its MLM scheme and GoldQuest, QuestNet, QNet, QI Ltd and QI group are some of its better known names.
 
In February 2014, the ED registered a case under the prevention of money laundering act (PMLA) against QNet, Vihaan Direct Selling, Ferreira and QNet founder Vijay Eswaran and three other independent representatives (IRs) of the MLM operator.
 
According to Anand, the MLM scam may have cost the country about Rs7,000 crore since the money is being remitted abroad.
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COMMENTS

gurupreet

1 year ago

💥📣 HYDERABAD QNETSCAM victims meeting update 📣💥
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 POLICY”.

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 only🙏

Jai Hind

gurupreet

1 year ago

#QNETSCAM & SUPREME COURT MATTER UPDATE - Please read till the end.

Dear Members,

Jai Hind to all. As you are aware I have had fought the QNET SCAM since last 4 years and devoted all these years full time towards taking effort to expose the QNET SCAM because of which millions of innocent people in India are loosing thier hard earned money and due to my efforts the #QNETSCAM had almost come to a stand still.

This fight has had taken a HUGE effort and affected my personal and professional life beyond what can be explained here, though all cases in which I appeared had verdicts coming in favor of the victims of #QNETSCAM

In Bombay High Court and the Supreme Court I have faced the best and most expensive lawyers in India like Mahesh Jhetmalani , Kapil Sibbal, Salman Kurshid , Dushant Dave etc but they could not protect the accused involved in the #QNETSCAM till recently when...

These accused cheated and played FRAUD upon the Supreme Court and obtained an stay order on all proceedings against QNET all over India. It is very very Important for all of us to come together and unite so that this fraud can be exposed and correct facts are brought before the Supreme Court.

To carry forward this fight further I need to move to Delhi and need support from you all without which this fight will come to an end. I request Donations from you all for fighting this #QNETSCAM which is destroying lifes, families and careers and thousands of crores are being laundered out of our country India.

I request donations and the same can be send thru Bank transfer or deposits in my bank account number as below:

Account number: 32280724593

BANK:
state bank of India, Lokhandwala branch


IFSC: SBIN0013204


Name as in bank records: Gurupreet Singh Anand

You can also donate via Paytm on 7498063701. Any donations big or small are welcome.

Other help in form of a place to stay in Delhi and if anyone has an extra activa or similar gear less two wheeler which I can use is also welcome. If you think you can help in any other ways please whatsapp me on 7498063701

Regards

Gurupreet Anand



Please pass this message to all groups, Facebook, Twitter, activists, members and victims of QNETSCAM, please join the fight in exposing the biggest ponzi scheme in India and stop the money being laundered out of our country



Vande Matram

jitu moni

2 years ago

http://www.mid-day.com/articles/qnet-case-scam-mumbai-news-mumbai-airport-arrest-eow-aditi-mitra/18084164
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.

gurupreet

2 years ago

QNET VICTIMS please beware of this shady character one Mr. Rafiq whose posing as an "High Court Advocate & RTI Activist" at various online web sites.

This guy is a sweet talker and will promise you refund from QNET if you appoint him as an advocate, he is doing nothing but cheating your further...here is his modus operandi...

He also claims to be behind several actions that have been taken place by mumbai police and FFVA but the FACT remains that he has nothing to do with any of these actions being taken all over India.

He will convince victims to appoint him as an ADVOCATE and thereafter tell victims to deposit Rs 50,000 in various bank accounts to show that he has been apponited.

He will promise that he will return back the money after showing that to QNET office but the FACT remains that after the money is transferred he will stop recieving your calls and vanish .

We have recieved multiple complaints against this FRAUD, please BEWARE you all have already been cheated dont get cheated again.

For your REFUNDS only follow the correct and LEGAL way to get your refunds along with compensation, for more info do drop us a email at [email protected]

FFVA i.e Financial Frauds Victims Association has been formed to help and provide legal aid to victims of QNET SCAM.

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

Please stay away from crooks and fight for your legal rights in correct and proper way.

Regards
Gurupreet

Ajit Duge

2 years ago

It is indeed unfortunate that Farreira got involved in this.. I still have great admiration for his Billiards game.. But then the Law is Law.....

vimlesh

2 years ago

Michael, vijay eswaran, all celebrities who are involved ....should be hanged till death. All are playing with words and emotions of common people who have actually made them the celebrities. These people are not only looting people, but damaging the social, cultural and financial health of people and country India.

REPLY

Suketu Shah

In Reply to vimlesh 2 years ago

perfectly said.Celeb or not law shd be the same for everyone.Robbing peoples wealth is a crime .Remember Peter Graf.he was jailed for several yrs in Germany.

QNet: Michael Ferreira, Magaral Balaji and Malcolm Desai surrender before special court
Following orders from the Bombay High Court, former world champion of billiards Michael Ferreira, and two others on Friday surrendered before a Special Court in the multi-crore QNet scam. On Tuesday, the HC had asked five prime accused to as per the directions passed by the Supreme Court in the QNet scam case. 
 
Ferreira along with Magaral Veervalli Balaji, director of Vihaan Direct Selling (India) Pvt Ltd and Malcolm Nozer Desai, who is a 20% stakeholder in Vihaan, surrendered before the Special Court and were remanded to custody of Economic Offences Wing (EOW) of Mumbai Police. Ferreira owns 80% stake in Vihaan, which is franchisee of QNet. 
 
Other prime accused include, Srinivas Rao Vanka, director of Vihaan and Suresh Thimiri, director of Transview Enterprises India Pvt Ltd. All the prime accused had approached the Bombay HC seeking to quash the first information report (FIR) filed by Gurupreet Singh Anand as well as a stay on coercive action against them by the authorities. 
 
 A division bench headed by Justice Abhay Oka, while refusing to grant any relief, asked the five to surrender before authorities as per directions from the apex court. 
 
Last week, the Supreme Court, while accepting Maharashtra's standing council Nishant Khatneshwarkar's argument that the accused have failed to join the investigation and the charges are serious, had directed the five to surrender within a week.
 
Earlier in May, the Bombay High Court had also rejected bail plea of these five associates of QNet. While rejecting anticipatory bail applications of five accused the HC had observed that "the deceit and fraud is camouflaged under the name of e-marketing and business". This scheme is undoubtedly a multi-level marketing (MLM) activity and a pyramid structure of such scheme is prepared so that the members are promised to get money on purchase and sale of products, the Court had said.
 
Gurupreet Singh Anand, a computer consultant from Lokhandawala, Andheri in his first information report (FIR) stated that his wife was duped for Rs30,000 by some people who had introduced themselves as the independent representatives (IRs) of QNet.
 
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COMMENTS

akhil renjith

2 years ago

Will this get banned like there old name gold quest and quest net ...

PRITHVI RAJA

2 years ago

Any comment alert me

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