QNet: Michael Ferreira, three others sent to police custody by MPID Court
The special MPID court on Wednesday sent four prime accused in the multi-crore QNet scam, including Michael Ferreira, former world champion of billiards to police custody for seven days. Thane Police had arrested all the four accused.
 
On Tuesday, the economic offences wing (EOW) of Thane Police arrested Ferreira, along with Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct selling (India) Pvt Ltd, Malcolm Nozer Desai, who is a 20% stakeholder in Vihaan. 
 
According to the complaint filed in the Thane EOW, Ferreira and others conducted meetings about investment in various schemes of QNet in a city mall.  
 
Thane EOW has appealed other victims in the QNet scam to contact them. 
 
Earlier, the Bombay High Court had rejected the anticipatory bail applications of all the accused calling the whole business of QNET as “prima facie illegal business”.
 
The HC order mentioned "The motto of the company '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 will not 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.”
 
Even, the Serious Frauds Investigation Office (SFIO) had termed the whole business of the QI GROUP in India as a “threat to the national security” said the whistle blower Gurupreet Anand who submitted the SFIO report in Bombay High Court as well as Supreme Court of India along with other documents and the supreme Court dismissed all SLPs filed by the accused ordering them to surrender within seven days.
 
  • User 

    COMMENTS

    gurupreet

    2 years 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

    #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

    3 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

    4 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

    goel002

    4 years ago

    Qnet is threat to genuine companies. Which are the genuine direct selling companies in india . ? Please name a few.

    goel002

    4 years ago

    It's amusing to read such comments like national security risk, money going out of country, people get fooled etc.. ignorance is threat to national security fools. Company like amazon , samsung, apple are not india based and still they make billions. Potentially making the argument about money leaving the country, straight to the bin. National security risk. Hahahahaha. Who thought of this idea. Are they selling bombs, arms ammunition , conducting terrorist training camps, printing fake currency, doing hawal transaction , political affiliated, make religious comments ,. no they are not . Q net is definitely not a threat to national security. Whoever talk about logic . Please apply your mind to this logic as well.
    Second argument is in qnet person is fooled n all.. everyday someone is getting fooled by people on the ground, small traders, auto wallas, lawyers, at your work place, popular online e-commerce portals.
    People will not crib about high price tag for apple products whi reduces to 25 % of its original value in retail after 2- 3 years . That is actually fooling people.

    REPLY

    jitu moni

    In Reply to goel002 3 years ago

    Do you make retail sales or lure people of financial freedom in 4-5 years and then ask them to invest lakhs in products so that associated Tracking centres can be bought and placed under upline. You want to go to jail, Mister.

    goel002

    4 years ago

    If qnet is not legitimate direct selling company then who else is. Q net is a legitimate company with complete transparency in dealing with customers. There is no money transaction in making members. Transaction only takes place only when somebody buys a product, watches, holiday packages etc.. what is wrong with that. Just like amazon, flipkart. You sign up for free and then choose to buy whatever you like. Here the publicity is word of mouth. Where is the fraud in that. People who crib about the company is because they r not successful. Specially sardarji who has nothing substantial to do. Imagine someone given a ferrari and is not able to drive it. You cannot blame the company for providing faulty car or fraud car company. Getting my point. As an independent representative, they only promote the portal. Whether people want to purchase anything is upto them. Its fantastic becoz whatever purchase happened from your promotion, you get paid. Its a business. Just like you open a shop, whatever selling happens the owner makes money. Here the person who is getting customers to the shop also makes money. Its legal. People with half knowledge and unsuccessful are spreading negative propoganda about the company and the industry. There are direct selling guidelines by the govt of india which q net follows. So relax and dont be afriad about qnet.

    Agyat Vyakti

    4 years ago

    Yes together we can destroy qnet.. To help people from trap of online ponzy schemes like qnet which will come in future. Alexa and online site statistics can save you. I reccomend you to read this to save yourself from emotional trap of friends and relative who work for qnet http://qnetindiascam.blogspot.in/ or google qnetindiascam blogspot to read deeds of Ashwin Baluja and Prithvi Raj Grover share it . I need to populate this.

    Laughter 24X7

    4 years ago

    Its not truth ...

    REPLY

    jitu moni

    In Reply to Laughter 24X7 3 years ago

    47 Arrests, bank accounts reveal commission paid on enrolling members. Want to challenge Bombay and Delhi High Court , go file PIL

    vimlesh

    4 years ago

    I know the reality....gone through the whole peocedure which is qnet claims as false.........ferreira should be hanged till death...

    REPLY

    Laughter 24X7

    In Reply to vimlesh 4 years ago

    How can say this .. Qnet not scam

    TMC MP arrested in chit fund scam
    Trinamool Congress MP Sudip Bandyopadhyay was on Tuesday arrested by the CBI in the Rose Valley Chit Fund scam, an official said.
     
    He was summoned by the Central Bureau of Investigation (CBI) and was arrested at the agency's regional office after questioning, an agency official said.
     
    According to CBI sources, this was the Trinamool leader's third summoning for questioning in connection with his alleged role in the scam.
     
    Bandyopadhyay, who was summoned twice in December last year by the CBI, skipped the meeting, pleading his engagement at the parliamentary session.
     
    The agency that is investigating the ponzi scheme scam has already interrogated another Trinamool Congress MP, Tapas Paul for his alleged involvement in the case.
     
    Paul was arrested on December 30 and later shifted to Bhubaneswar for further interrogation.
     
    TMC national spokesperson Derek O'Brien said Trinamool MPs will protest against the Centre in New Delhi on Wednesday.
     
    "Some MPs will reach Delhi Parliamentary Party Office tomorrow (on Wednesday) at 2.30 p.m. to protest against this financial emergency, this complete emergency and political vendetta started by the central government," Derek said.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
      

     

  • User 

    QNet: SEBI asks victims to file complaints in EOW under PCMCS Act
    Market regulator Securities and Exchange Board of India (SEBI) has advised victims of multi-level marketing (MLM) QNet and its franchisee Vihaan Direct Selling India Pvt Ltd to the Economic Offences Wing (EOW) of Police having jurisdiction. 
     
    SEBI said its Bengaluru local office is regularly receiving complaints against activities carried on by QNET and Vihaan Direct Selling. "SEBI has noted that activities of QNet and VDSIL against which complaints are being received are akin to MLM activities and therefore, the same are being forwarded to state government and the EOW of Karnataka, having jurisdiction to implement provisions of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 governing MLM activities in the nature of money circulation schemes, for further action as they deem fit," it said.
     
    The Prize Chits and Money Circulation Schemes (Banning) Act empowers respective state governments and local police authorities to take action against MLM activities in the nature of money circulation schemes carried out in their territorial jurisdiction.
     
    QNet, in response to the SEBI directive, has alleged that vested interests have been writing to market regulator to create an impression of wrong doing. "QNet has been under investigation based on a false complaint. The investigations have been on for the past three years and till date no charge sheet has been filed. This follows the mis-information campaign launched against QNet and its associates by vested interest groups who are arm-twisting and destroying a legitimate business operation. QNet and its associates are facing several criminal complaints filed by individuals motivated by these interest groups and our business is under investigation by police department. However till date no reports have found or even remotely indicated any involvement of either QNet or its associates being involved in any activities not permitted under law in the last 16 years of its operations in India," the statement says.
     
    Earlier in September 2016, the Bombay High Court had asked five prime accused, including former world champion of billiards Michael Ferreira, to surrender as per the directions passed by the Supreme Court in the multi-crore QNet scam case. The HC was hearing a bunch of writ petitions filed by these five accused. 
     
    The Bombay HC in May 2016 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 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 said, "The motto of the company '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. 
     
    The HC then rejected bail applications of five including, Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct Selling, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, Malcolm Nozer Desai, who is a 20% stakeholder in Vihaan and Michael Joseph Ferreira, former world champion of billiards and an 80% stakeholder in Vihaan.
     
    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.
     
  • Like this story? Get our top stories by email.

    User 

    COMMENTS

    pihukelani29

    2 months ago

    I really need help..
    Really
    I want all of them...in jail...
    Please help...to get my refund back 🙏they are fraud people ....
    Heartless ......

    Karthick Sugumar

    8 months ago

    Hi,

    i have been fallen in a business which is so called as network marketing & its referred by my colleague. In the begining of this business they will ask you to follow the instructions which is been trained by there Uplines ( Cheating Techniques ) & if we need to earn money then we need to cheat others . I need a big help from someone who can help me to claim my money it's 4 lakhs .

    REPLY

    sagar.kakkala

    In Reply to Karthick Sugumar 4 months ago

    Hi even I lost money and in search of help for 4.5 lakh

    Yamsani Navyatha

    1 year ago

    Why you people are still leaving those,how can i get justiceand how can i claim a complaint against them,iam the one who is not at all involved in that business and trying to pull all the innocents out from that,can anyone help me out?what should i do?

    REPLY

    pihukelani29

    In Reply to Yamsani Navyatha 2 months ago

    Hey please help me

    jitu moni

    3 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

    4 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

    mona risbud

    In Reply to gurupreet 11 months ago

    Hi,Needed help from you. Please advise how can i recover my money back as there is an emergency in the family.

    Agyat Vyakti

    4 years ago

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

    vimlesh

    4 years ago

    Qnet and their franchises will be punished soon. These frauds are playing with words, emotions of innocent and simple people.

    REPLY

    Agyat Vyakti

    In Reply to vimlesh 4 years ago

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

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