QNet: Mumbai police issue lookout notice against 10 including Michael Ferreira, Vijay Eswaran

Mumbai Police have issued lookout notice against 10 people including QNet founder Vijay Eswaran and former billiards champion Michael Ferreira in the Rs425 crore QNet scam case

The economic offences wing (EOW) of Mumbai police has issued lookout notices against 10 people including Michael Ferreira, former World Billiards Champion and Padma Bhushan awardee, after he failed to turn up for questioning in the QNet scam case. Other people against whom the lookout notice has been issued include QNet founder Vijay Eswaran, its vice president Dev Wadhwani and Sachin Gupta.

QNet, Michael Ferreira, Vijay Eswaran, Dato Vijay EswaranVijay Eswaran with Michael Ferreira (circled) at one of the promotional events of QNet
 

According to sources, EOW has also issued notices against six other officials and leaders of QNet. However, their names were not revealed by the sources.

Ferreira was summoned by the EOW in connection with the Rs425-crore scam allegedly committed by multi-level marketing (MLM) operator QNet. The former world champion is founder of Faith, which was started as a distributor network under the QI brand.

 

Last month, while speaking with news channels, Ferreira, who has gone abroad some time back, had said he would appear before the investigators as soon as he returns to India. He even defended the controversial company.

 

The Padma Bhushan awardee had told the channels that "three to four days ago, the summons was received at my home (in Mumbai) in my absence. I am abroad now. The summons was handled by my lawyer and I understand he is co-operating fully."

 

Responding a query, he had said "of course, I shall make myself available (before the Economic Offences Wing of the Mumbai police). I have the highest regard and respect for the police. As soon as I am cleared to travel, I will appear before the EOW. I am undergoing a lot of stress at the moment."

 

However, former World Billiards Champion did not turn up before the EOW, which resulted in police issuing a look out notice against him.

 

Others against whom the EOW has issued lookout notices, include Dev Nanik Wadhwani. He is founder of team Infinity, the most aggressive team of QNet's independent representatives (IRs) at present in India. Sachin Gupta is one of the so-called 'top leaders' of QNet from Mumbai and according to sources may have fled to Dubai.

 

QNet operates in India through its official franchisee Vihaan Direct Selling Pvt Ltd, which carries the company's brand name in the country. Ferreira owns 80% stake in Vihaan Direct Selling with Malcolm N Desai holding the rest. Desai had already approached the Sessions Court in Mumbai for an anticipatory bail fearing that the EOW may arrest him soon.

 

According to Faith Egypt , Michael Ferreira is the founder of 'Team Faith' that is involved in hard selling QNet scheme. Talking about Ferreira, it says, "As an individual, in a very short space of time he (Ferreira) was in the list of the top 30 earners and under his astute stewardship he provided the platform, environment, guidance, training and inspiration to his flock, many of whom are earning incomes beyond their wildest dreams."

 

Showing a clear link between, Ferreira, QNet and its founder Vijay Eswaran (one of the accused in the cases against the MLM operator), the portal says, "The core leadership of Faith is today in a position to concentrate more sharply on those who still remain vulnerable to the “slings and arrows of outrageous fortune” so that each one of them develops into lead birds of their own teams, all fiercely loyal to Faith, its philosophy and its ideals and to the values espoused by its visionary and mentor Dato Vijay Eswaran."

 

Faith Egypt, also reveals names of other people, like Mark Ferreira, Malanie Sequeira, Lata Hegde and Manjunath Hegde, all of whom are associated with QNet. In August 2013, the EOW had arrested Bandra-based Manjunath Hedge for cheating in the QNet case. The EOW searched his house and seized computer hard disc and several incriminating documents, including some payment/ commission receipts.

 

As reported by Moneylife, QuestNet and GoldQuest, 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.

 

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COMMENTS

Ashok Senniappan

6 months ago

We shall have many more such schemes in the days to comeas long as our
people are greedy.

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

Antonio Fady

1 year ago

Qnet is not a scam in anyway and its a solid money making opportunity but for only those who believe is hard work, there is no short cut and no easy money, Yes if you can sustain and work as per the format you will have exponential growth for sure. For those who are not able to make any money only due to their laziness start naming and shaming such organisations. We call this MLM and today all the business in this world are based on network and duplication. This company is currently in its 19th successful year and has made many people millionaire till date.

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

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

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

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

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

3. How to teach your CHEATER UPLINES a lesson?

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

5. Are you eligible for “Compensations”?

6. Issues regarding action buy police authorities.

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

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

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

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

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

Jai Hind.

gurupreet

2 years ago

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

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

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

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

3. How to teach your CHEATER UPLINES a lesson?

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

5. Are you eligible for “Compensations”?

6. Issues regarding action buy police authorities.

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

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

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

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

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

Jai Hind.

jitu moni

2 years ago

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


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


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


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

jitu moni

2 years ago

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

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

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

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

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

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

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

jitu moni

2 years ago

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

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

jitu moni

2 years ago

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

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

jitu moni

2 years ago


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

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

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

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

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

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

jitu moni

2 years ago


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.

jitu moni

3 years ago

QNet: Secret SFIO report says MLM, Ponzi schemes a threat to national security
Read article http://www.moneylife.in//article/qnet-secret-sfio-report-says-mlm-ponzi-schemes-and-lsquo-a-threat-to-national-security-and-rsquo/46817.html

jitu moni

3 years ago

Hello Everyone

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

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

Jai Hind

vimlesh

3 years ago

I am the victim of my colleague mudit mishra(Sr Manager, Idea cellular limited). I have lost 6 lakh rupees and i am paying EMIs for the loan taken.

I am writing this again in this forum as the below link has been got removed by these QNET frauds with the help of influential people.

https://http://www.youtube.com/watch?v=e6x2QgI6K7o


QNET is converting innocent people into criminal and traitors.

It is a criminal making factory.

I do not understand where this society is moving. I am sure the day is not too far when companies like qnet would be promoted by Indian government and other governments. Theses qnet people are working slowly and slowly to get this name and company into mainstream and it will happen very soon. These people are playing with words. It is a very long story. I have seen these people working, very closely, they are crazy and they can do anything for the money. Even they are working with ministers too to get qnet accrediation in india. They will surely succeed. This society, india, will no more be a place to live.

vimlesh

3 years ago

I am the victim of my colleague mudit mishra(Sr Manager, Idea cellular limited). I have lost 6 lakh rupees and i am paying EMIs for the loan taken.

I am writing this again in this forum as the below link has been got removed by these QNET frauds with the help of influential people.

https://http://www.youtube.com/watch?v=e6x2QgI6K7o


QNET is converting innocent people into criminal and traitors.

It is a criminal making factory.

I do not understand where this society is moving. I am sure the day is not too far when companies like qnet would be promoted by Indian government and other governments. Theses qnet people are working slowly and slowly to get this name and company into mainstream and it will happen very soon. These people are playing with words. It is a very long story. I have seen these people working, very closely, they are crazy and they can do anything for the money. Even they are working with ministers too to get qnet accrediation in india. They will surely succeed. This society, india, will no more be a place to live.

vimlesh

3 years ago

I am the victim of my colleague mudit mishra(Sr Manager, Idea cellular limited). I have lost 6 lakh rupees and i am paying EMIs for the loan taken.

I am writing this again in this forum as the below link has been got removed by these QNET frauds with the help of influential people.

https://http://www.youtube.com/watch?v=e6x2QgI6K7o

I do not understand where this society is moving. I am sure the day is not too far when companies like qnet would be promoted by Indian government and other governments. Theses qnet people are working slowly and slowly to get this name and company into mainstream and it will happen very soon. These people are playing with words. It is a very long story. I have seen these people working, very closely, they are crazy and they can do anything for the money. Even they are working with ministers too to get qnet accrediation in india. They will surely succeed. This society, india, will no more be a place to live.

jitu moni

3 years ago

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

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

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

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

jitu moni

3 years ago

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

jitu moni

3 years ago

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

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

jitu moni

3 years ago

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

jitu moni

3 years ago

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

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

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

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

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

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

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

Dev

3 years ago

http://timesofindia.indiatimes.com/city/...

Seven booked for cheating bizman

GURGAON: A city-based businessman was allegedly cheated out of Rs 4.5 lakh by seven persons on the pretext of helping start his e-commerce business. An FIR was lodged against them on Saturday for cheating and fraud.
According to police, businessman Sumit Kumar, a resident of Sector 15, had filed a complaint against seven accused identified as Sameer Suman, Aditya Birla, Sumeet Goyal, Deepak Aggarwal, Mayur Maidh, Vajinder Pal and Anubhav Bhatia alleging that he had paid them a fee of Rs 4.5 lakh for setting up his business through multilevel marketing. However, the business never took off.

Kumar told the cops they had contacted him around November 2014, pretending to work for an e-commerce company based in Bangalore. "They told me if I agree to get into a venture with them, then I can start earning well within a few months. I met them in a hotel in Connaught Place in Delhi on December 18, 2014. I handed them a demand draft for Rs 4.5 lakh in the name of Vihan Direct Selling India Limited. It was cashed on January 31, 2015. A few days later they stopped all communication," he said.
The case was assigned to the cybercrime cell and after a yearlong investigation the allegations were found to be true. Subsequently, the FIR was lodged under sections 420 (cheating), 409 (criminal breach of trust by banker or agent), 120B (criminal conspiracy) of IPC, sections 3, 4, 5 of prize chit and mone cir schemer act and sections 3, 4, 16 of Haryana protection of interest of deposits Act under sections 420 (cheating), 409 (criminal breach of trust by banker or agent), 120B (criminal conspiracy) of IPC, sections 3, 4, 5 of prize chit and mone cir schemer act, 58-B of RBI ACT and sections 3, 4, 16 of Haryana protection of interest of deposits act, said inspector Naresh Kumar.

Dev

3 years ago

YOU CAN REPORT ANY FRAUD BY ANY PONZI SCHEME TO THE FOLLOWING (DEPENDING ON THE CITY IT HAPPENED). SEND YOUR COMPLAINT BY REGISTERED AD OR VISIT PERSONALLY AND TAKE A STAMPED ACKNOWLEDGEMENT. THIS WILL ALSO ENSURE THAT IF ANY MONEY IS DISBURSED FROM ANY SEIZING OF ASSETS/MONEY UNDER ACTS LIKE MPID ACT, YOU WILL BE ABLE TO LAY A CLAIM

THE FULL LIST FOR EVERY STATE IS AVAILBALE AT https://rbi.org.in/commonman/Upload/English/Content/PDFs/LNA100112C_M.pdf

FOR MAIN METROS, THIS IS THE ADDRESS

MUMBAI

THE JOINT COMMISSIONER OF POLICE (EOW)
MUMBAI POLICE
Ground Floor, Annexe 2 Building
Police Commissioner Office
Crawford Market, Mumbai - 400001

DELHI

Deputy Commissioner of Police
Economic Offences Wing
Delhi Police
Mandir Marg
New Delhi 110001

BENGLURU

Cyber Crime Police Station,
CID Annexe Building, Carlton House,
# 1, Palace Road,
Bangalore - 560001.

CHENNAI

Deputy Commissioner of Police(EOW)
Chennai Police
Economic Offences Wing CID
C 48, II- Avenue, TNHB, 3rd Floor,

Anna Nagar, Chennai-40.

HYDERABAD

Office of the Addl.Director General of Police,
Crime Investigation Department
Andra Pradesh at RBVRR Telangana State Police Academy,
Himayatsagar,Hyderabad-500091, Telangana State

NOTE: YOU CAN CHECK WHERE THE ECONOMIC OFFENCES WING (EOW) OF YOUR STATE/CITY IS LOCATED AND VISIT PERSONALLY AND LODGE A COMPLAINT

Agyat Vyakti

3 years ago

Off the topic. This is just for awareness.. Qnet and MLM are using friends and relatives to dupe you... You may like to read Qnet modus operandi with screen shots and facts and how to avoid them here ... Please share for public interest.. Qnet Scam in delhi by Ashwin Baluja and Prithvi Raj Grover http://qnetindiascam.blogspot.in/

jitu moni

3 years ago

http://www.moneylife.in/article/qnet-mpi...
The special court has rejected anticipatory bail applications of two directors of Vihaan, Suresh Thimiri of Transview as well as Malcolm Desai and Michael Ferreira, the stakeholders of Vihaan that handles QNet's MLM operations in India

The special Maharashtra Protection of Interest of Depositors (MPID) Court on Tuesday rejected anticipatory bail applications of five accused in the multi-crore QNet scam. This includes, Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, Malcolm Nozer Desai, who is 20% stakeholder in Vihaan and Michael Joseph Ferreira, former world champion of billiards and 80% stakeholder in Vihaan.
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.

Transview Enterprises is an associate company of Vihaan Direct Selling Pvt Ltd that handles QNet's multi-level marketing (MLM) operations in India since 14 April 2012. Vihaan Direct Selling, in which Michael Ferreira, the former world billiards champion, owns 80% stake, is a direct selling agent of QNet and had done large financial transactions with Thimiri's company Transview.

The EOW had booked several accused including the former world champion of billiards and five companies related with QNet, under the MPID Act. This means all the cases against QNet, Vihaan and all those involved in the MLM scam would be heard before the special MPID Court. Until now, the accused were being investigated for cheating and forgery under the Prize, Chits and Money Circulation Schemes (Banning) Act 1978, and for money laundering by the Enforcement Directorate (ED).

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.
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. 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.”

REPLY

Agyat Vyakti

In Reply to jitu moni 3 years ago

Off the topic. This is just for awareness.. Qnet and MLM are using friends and relatives to dupe you... You may like to read Qnet modus operandi with screen shots and facts and how to avoid them here ... Please share for public interest.. Qnet Scam in delhi by Ashwin Baluja and Prithvi Raj Grover http://qnetindiascam.blogspot.in/

jitu moni

3 years ago

http://timesofindia.indiatimes.com/city/...
MUMBAI: Investors who lost their money in major scams and multi-level marketing's cheating cases can heave a sigh of relief now. The state government has appointed 49 new competent authorities (CAs) to take decision in as many as 101 cases regisered under the strinent law, The Maharashtra Protection of Interest of Depositors (MPID) Act. This will help to dispose of as much as Rs 10,000 crore of investors that is stuck in over a hundred cheating cases' legal battle.

Earlier, the city economic offences wing (EOW) had only two competent authorities. "CAs will proceed with the procedure of disposal of properties and realisation of money for repayment to the investors. It will expedite the process of recovery and will help the victims who have been cheated to get their money back," said Dhananajay Kamalamakr, joint commissioner of police and EOW chief.

The big cases where these CAs will focus first include the cheating cases incluidng National Spot Exchange Limited (NSEL), QNet, SpeakAsia, fixed deposit scam led by Sheesha lounge owner Mohammed Fasih and the Mumbai District Cooperative Bank. SpeakAsia alone has over 24 lakh investors. The money lost in this case is over Rs 2,276 crore while investors' over Rs 6,000 crore is stuck in the NSEL case.
TOI had on October 11, 2015 reported about that as many as 62 cases under the MPID act were pending in a city court due to non-appointment of a competent authority. While seized properties of the accused in all the above cases await disbursement among the victims, the city police has sent a proposal to the state for several amendments including the appointment of CA for a speedy return of public money, said police sources. More than Rs 10,000 crore public money is stuck in MPID cases in the city alone, they said.

"Earlier, non-appointment of competent authority defeated the objective of the enactment of the MPID Act," said an EOW officer. While an investigating officer probes the criminal part of a case, the civil aspects such as the attachment of properties, sale-realization of properties, and disbursement of sale proceeds to the victims are exclusively in the domain of the competent authority who is a revenue officer of deputy collector rank.

"It is observed that competent authority has been appointed in 23 cases in the city MPID cases earlier, notification of the properties in the official gazette is yet to be published. Hence, it would be better to have CAs with independent portfolio for MPID cases," said a senior IPS officer.

Major cases where the appointment of competent authority will give relief to investors:

· NSEL Rs 6,000 crore
· SpeakAsia Rs 2,276 crore
· QNet Rs 425 crore
· FD scam Rs 325 crore
· Mumbai District Cooperative Bank Rs 119 crore

jitu moni

3 years ago

http://www.asianage.com/mumbai/bombay-hc...

In a setback to voiceover artist Tarun Ratnani, the Bombay high court turned down his application seeking waiving of trial court order asking him to furnish a bank guarantee of Rs 35 lakh failing which the investigating officer would sell his BMW car and deposit the amount with bank registry as security in the Rs 800 crore QNet scam.

The prosecution’s case is that Ratnani is one of the main accused in the scam and during the course of investigation, it was revealed to the investigation agency that the appellant has purchased the said vehicle by using the proceeds from the aforesaid crime.

Considering this, the police had seized the BMW that belonged to Ratnani; however on his appeal, the special MPID judge issued a direction to release the said vehicle subject to the appellant furnishing bank guarantee of Rs 35 lakh and indemnity bond of the same amount within a month, failing which the investigating officer was directed to sell the said vehicle and to deposit the sale proceeds in the name of registrar of sessions court for an initial period of five years pending the trial.

Ratnani, through his lawyer, had requested the court to give back his car on indemnity bond without a bank guarantee of Rs 35 lakh. He had contended that he had sold his old car and used Rs 4 lakh from the profits earned from QNet investments and the remaining was paid through loans so it cannot be said that the car was bought from money earned from QNet and hence the car should be handed over to him on bond. He also assured the court that if investigating agency comes to the conclusion that the car was bought entirely from the proceeds of the alleged crime then he would reimburse that amount.

However, the division bench of acting chief Justice V. K. Tahilramani and Justice A.S. Gadkari rejected his application and held that the trial court has not committed any mistake in passing the impugned order.

jitu moni

3 years ago

http://timesofindia.indiatimes.com/city/...

VIJAYAWADA: Yet another multi-level marketing (MLM) company Vihaan Direct Selling Ltd was sealed by police and its representatives were paraded before mediapersons here on Tuesday. Police will soon serve a notice on its promoters -- Vasudeva Reddy and Ch Gangadhar - who are currently in Dubai and alert the Interpol to help nab the duo.

Addressing a press conference here on Tuesday, commissioner of police A B Venkateswara Rao said that 134 people in the city have fallen prey to the company. "Vihaan Direct collected Rs 1.16 crore and deposited Rs 65 lakh in the account of Vihaan Direct Selling Ltd, which is based in Mumbai. Another Rs 10 lakh was deposited in the account of VR 1 Training Centre, which is based in Bangalore. Rest of the funds have been misappropriated," he said.

Acting on a complaint from a depositor Prathipathi Lakshmi Ganesh, Krishna Lanka police led by circle inspector S V V S Murthy arrested four representatives of the firm- Gourang Desai, Y Babul Reddy, D Nagaraju and Ch Manikanta -- on June 22 and recovered Rs 15 lakh in cash and four mobile phones.

It was on January 5 this year Mumbai-based Vasudeva Reddy, a notorious MLM agent, opened Vihaan Direct as a franchise of Hong Kong-based Q-Net near Prasanthi Hospital in Labbipet. He also ran a training centre called VR 1. City-lad Desai, who met Vasudeva in Mumbai, was nominated as in-charge of the training centre. Gangadhar, a close aide of Vasudava, was nominated to run the direct selling firm.

Gangadhar recruited Babul, Nagaraju and Manikanta as independent representatives (IRs) to carry out the fraudulent MLM operations. Their modus operandi was typical of a binary tree structure- each IR has to recruit more members. IRs will receive commission based on the number of referrals and sales volume of other IRs in their team.

The police commissioner said that Vijay Eswaran, who runs Q-Net, is the brain behind the MLM firms. "From 2002-08, he ran a firm in Chennai that swindled Rs 1,100 crore. Between 2010-14, he ran another MLM firm with Vasudeva Reddy, which swindled Rs 425 crore from depositors," he added.

jitu moni

3 years ago

QNET multi-level marketing scam busted in Vijayawada - Tv9

https://http://www.youtube.com/watch?v=Plsdlh0FBkU

jitu moni

3 years ago

http://www.business-standard.com/article...
Four persons have been held today for their alleged involvement in the multi-level marketing 'Qnet' case, police said.

The four persons, identified as V Bal Reddy, Gautam Desai, Dasari Nagaraju and Cheemakurti Manikanta, were arrested today and Rs 15 lakh, deposited in different bank accounts, were seized from them, district Police Commissioner A

B Venkateswara Rao said.

The accused were nabbed by Economic Offences wing of the Commissionarate and the key person involved in the alleged fraud, Gangadhar from Vijayawada, is absconding and is currently said to be in Dubai, the senior officer said.

The five persons were associated with multi-level international marketing firm Qnet, a company founded by one Vijay Eswaran, a Malaysian citizen based in Hong Kong, in 1998, where the company agents extracted huge money from people by offering them lucrative incentives, he said.

The company also operated in India with other names like 'Qen' and 'Quest, police said.

Eswaran had appointed one Vihan Direct Selling, owned by Gangadhar, as the sole selling company in India, where the firm had assigned some agents to recruit salesmen under the direct selling system.

According to police, the agents had appointed 134 first level salesmen by collecting Rs 1,16,55,000 and another 13,400 second level salesmen were joined by the 134 sales persons.

In the meantime, one of the salesmen suspected company's activities and lodged a complaint with the police and the four accused were arrested after investigations.

Rao said if necessary, a red corner notice will be issued against Gangadhar.

He said Qnet is facing many charges in the country and some of the cases against the company are pending in courts.

A decade back, the company was involved in a Rs 11 crore case of alleged fraud in Chennai. It has also been facing some cases in Mumbai, the officer said.

jitu moni

3 years ago

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

A Mumbai resident today approached the Economic Offences Wing of police seeking inquiry into QNet, a multi-level marketing company facing allegations of duping investors, being one of the sponsors of onoging International Indian Film Academy Awards, 2015.

The EOW of Mumbai police is probing the Hong Kong-based Qnet for an alleged Rs 425-crore fraud.

Gurpreet Singh Anand, who is one of the original complainants against the firm, contends in the fresh complaint that the "purpose of sponsoring IIFA awards is to further the Qnet scam in India and create an image that it is a respectable brand".

IIFA website lists Qnet as one of the 'official direct selling partners'.

While Singh has demanded probe into "why they (organisers) have appointed this company as sponsor", IIFA officials were unavailable for comment. Its legal cell informed PTI that senior officials were busy in Malaysia where the awards ceremony is taking place.

The EOW has so far arrested 17 persons for allegedly duping investors by selling Qnet products including magnetic disks, herbal products and holiday schemes through allegedly fraudulent means.

It has been accused of using the banned 'binary pyramid business model', and a case has been registered under the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

jitu moni

4 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

4 years ago

Representative of PR company summoned in QNet case

MUMBAI: The EOW summoned the representative of a PR firm and sought details about the services it has been providing to QNet, a marketing firm involved in an alleged Rs 425 crore cheating case. Meanwhile, the police have written to a bank in Fort to freeze the PR firm's account.

The police said they will also summon other PR companies that worked for QNet in the past.

An EOW source said the representative has said that the PR firm had entered into a contract with QNet in January to act as a coordinator between the media and the marketing company. "We have asked the PR firm to furnish the contract copy, details of QNet officials who had approached it and bank payment details," said an officer. But, the officer added, the EOW is not satisfied and has summoned the representative again.

The cops have written to the bank under section 91 and 102 of CrPC and Section 4 of the Bankers Books Evidence Act, 1891, to freeze the account belonging to the PR firm. "We suspect the money used to pay the PR firm was earned by QNet through the proceeds of crime. Till date, 10 people have been arrested in this case," said Rajvardhan Sinha, additional commissioner.

The PR firm, in its statement to TOI, said, "Our relationship with QNet is purely that of a client and a consultancy. Like any PR constancy, we are just doing our professional job to coordinate flow of information from the company to the media and attending media queries on QNet. As part of their investigation, the police inquired with us on the nature of our association with QNet and we informed them of the same."

http://timesofindia.indiatimes.com/city/...

gurupreet

4 years ago

Mumbai: The police custody of ex-world billiard champion Michael Ferreira's former daughter-in-law, who was held in connection with the QNET scam, was on Tuesday extended till September 22 with investigators seeking to examine her earnings and investments she made using the illicit money.

Read full story here: http://zeenews.india.com/news/maharashtr...

gurupreet

4 years ago

The EOW had arrested Susan Chatterjee, former daughter-in-law of Michael Ferreira in the Rs425 crore QNet scam. While Ferreira owns 80% stake in QNet's official franchisee in India, his son, wife and close relatives are also reportedly under the scanner

With the arrest of Susan Nikhil Chatterjee, former wife of Mark Ferreira, the focus of the investigators is now back again on the family of former world billion champion Michael Ferreira. The Economic Offences Wing (EOW) of Mumbai police last week arrested Susan in the Rs425 crore QNet scam.

Read the full story here...and please add your comments...

http://www.moneylife.in/article/qnet-mic...

SCAMI BUSTER

4 years ago

MICHAEL FERREIRA’S EX DAUGHTER IN LAW ARRESTED BY EOW IN QNET SCAM. MICHAEL FERREIRA ALSO HEADED “FAITH SOLUTIONS” UNDER WHICH GARB PEOPLE WERE TAKEN FOR “QNET” AND INCLUDED HIS SON “MARK FERREIRA”, “MANJUNATH HEGDE” (WHO WAS ARRESTED AND WAS IN POLICE/JUDICIAL CUSTODY FOR OVER A MONTH), LATA HEGDE AMONG OTHERS

http://indianexpress.com/article/india/i...

http://www.financialexpress.com/news/qne...

http://www.dnaindia.com/mumbai/report-mi...

jitu moni

4 years ago

MUI Riau: QNET Business Indicated Haram
June 18, 2014 by the Indo Howmoney

QNET_logo_indonesia Of Riau, Chairman of the Fatwa Commission of the Indonesian Ulema Council (MUI) in Riau Province Ustadz Abdurrahman present the results of studies related institutions will report QNET business community on Tuesday (06.17.14). MUI Riau concluded, that QNET MLM business founded by Malaysian businessman Vijay Eswaran, there MLM qualified as defined MUI halal center.

"We received complaints from the public related QNET MLM and after assessment, we conclude that QNET MLM strongly indicated forbidden," he told riauterkinicom.

Presented Ustadz Abdurrahman, from contract documents or statements QNET MLM participants were studied and the products are used as evidence, developed QNET MLM system containing elements of fraud, is potentially causing loss of one of the parties and obscurity.

For example, each participant must purchase a product in the form of Chakra, a round clear glass plates by hand or Chi Pendant, a round slab logal for long Rp100 coins shaped pendant, worth Rp 8 million. Goods that, according to the QNET, expensive as it is a matter of health therapy.

During this QNET promotes itself as an online business. But in fact the ministry of the QNET greetings and the bucket is very slow, far from being a good online business. "The payment must be in cash, but the new goods are handed over to the buyer many months later. In fact, there are up to five months to get the new, "he said.

See also: What is QNET it?

In addition to pay in cash, but did not immediately get the items purchased, the price Chakra or Chi Pendant is believed to be very expensive compared to the actual value.

"We (masyarakat.red) may be asked to purchase the item (Chakra or Chi Pendant. Red) fifty thousand also may not want to," he said.

Ustadz Abdurrahman Furthermore, in addition to having to pay 8 million for goods that are considered not worth the QNET MLM participants are required to invite six new members to transact with each value of 8 million, the new bonus Rp3.5 million. Departing from non-halalan conclusion QNET MLM system, Ustadz Wahid appealed to the people of Riau, especially Muslims to avoid the business.

Meanwhile, Fery Wibowo, one of the leaders of PT Amoeba international, licensees QNET Indonesia, Riau riauterkini.com when found in one of the alleys in Jalan Bukitbarisan Pekanbaru, mentions that the legal and lawful business.

"We have an official license and also had a halal certificate from NU South Jakarta," he said.

Although not representative of the management company QNET, Fery Wibowo threatened to penalize parties who accused QNET business activities based in Hong Kong, an element of fraud.

"If anyone dared mention QNET is a fraud, I guarantee within a few hours in question would be the status of a suspect," he threatened as it.

Then one year in Banyuwangi

Even so, exactly one year ago, in June 2013, about 200 members of QNET came to the police station and reported the fraud Banyuwangi by PT QNET Indonesia with an indication of the loss of the member reaches 1.6 billion. Rudi is Suprapto, 50, Blokagung villagers, village Karangdoro representing several residents reported the case.

"I can only once a commission of 726 thousand," said Rudi Suprapto KabarBanyuwangi.info quoted as saying. While he argues, the QNET promising a salary of Rp 2.5 million per week. "The amount (bonus) depending on the product to be purchased," he said. Obtaining explanations that every member QNET should purchase products with prices starting at Rp 7 million, USD 9.6 million to $ 10.8 million. He felt cheated because after a year to join in the QNET he did not get any bonus as promised by its leader.

In the promotion, he explained, all of the products that are considered to have the power. "Bio Disc is drenched with water, he was able to cure all diseases pe. If you wear a necklace, she was able to lift heavy loads, "he said.

Not long ago, the police respond to the report and hold Syamsuri and Bambang. Both are QNET MLM leaders in East Java.

http://howmoneyindonesia.com/2014/06/18/...

gurupreet

4 years ago

Today QNET advocates scored a second self goal in court :)

Ever Since my fight started against QNET SCAM I have faced the following lawyers in court by appearing in person:

1. Nitin Pradhan
2. Mahesh Jhetmalani
3. Abad Ponda
4. Haresh Mohan Jagtiani
5. Divya Bahl
6. Rajendra Mokashi
7. Kuldip Patil
8. Sandeep Karnik
9. Sudatta Patil etc…

All these are senior advocates with teams of juniors below them but till date QNET did not get any single favorable order from any court.

The FIGHT enters a “new phase” now….Ganpati Bappa Morya :)

jitu moni

4 years ago

Kavali Gold Quest Scheme Fraud: Accused Arrested

HYDERABAD: The Crime Investigation Department arrested two most-wanted persons in different cases on Thursday. While one was detained at the Rajiv Gandhi International Airport at Shamshabad, the other was detained at the airport in Chennai.

Additional DGP (CID) T Krishna Prasad said that one of them, Raavi Ramesh Babu, is an accused in a cheating case registered at the Kavali II Town (T) police station in Nellore district.

In this case, several people of Kavali town were lured by local promoters of Gold Quest scheme run by Questnet Enterprises. Believing the promises of the accused, several people joined the scheme by paying `33,000 or `66,000 but were cheated. One of the outside promoters of the Gold Quest scheme is Raavi Ramesh Babu. He is one of the main accused and had been absconding ever since the case was registered. As his activities are clandestine, the economic offences wing of the CID opened a look-out circular (LOC) against him. Ramesh Babu was arrested by the immigration authorities at the Rajiv Gandhi International Airport.

On the information given by the immigration authorities, a CID team went to the airport and took the accused into custody to produce him before the magistrate concerned.

In another case, police arrested Swaminathan Sivanandan at the Chennai airport. Sivanandan is an accused in a dowry harassment case registered at the Pet Basheerabad police station here. At the request of the Cyberabad police commissioner, a look-out circular was opened against Sivanandan. The trial court issued an arrest warrant against him as he was not attending the court. He had gone to Doha in Qatar to escape arrest.

http://www.newindianexpress.com/cities/h...

jitu moni

4 years ago

100 pull out of Chinese millionaire's MLM scheme in Malaysia

Major Chinese dailies reported that more than 100 people had cancelled their membership in the controversial multi-level marketing scheme YSLM, established by self-proclaimed Chinese millionaire Zhang Jian.

They were required to sign a letter which stated that their reason for quitting was due to the impact from a Facebook page calling on netizens to combat pyramid schemes, and that they were grateful to Zhang Jian for allowing them to terminate their membership unconditionally.

On Wednesday, the company announced that members who had failed to introduce new members to the company were entitled to a full refund of RM300 (S$115) if they quit the scheme.

Zhang made headlines recently when giant billboards of him appeared in Penang proclaiming him as the "future richest man in the world".
http://news.asiaone.com/news/malaysia/10...

jitu moni

4 years ago

http://www.wfmynews2.com/story/news/loca...

First Payouts Approved For Zeek Reward Victims
HIGH POINT, N.C.-- A federal judge has approved the first payouts for victims of the Zeek Rewards pyramid scheme. The High Point Enterprise reported that the attorney supervising efforts to return members to the victims said a judge on Thursday approved the payments.

Kenneth Bell said the first payments should be handed out late next month. Bell indicated earlier this year that the first payments could be for about 40 percent of what victims lost in the scheme. The U.S. Securities and Exchange Commission shut down and seized the assets of Zeek Rewards in August 2012.

Bell estimates that from January 2011 until August 2012, more than 700,000 people lost more than $700 million. Zeek Rewards had said it was a multi-level marketing business operating in Lexington.

jitu moni

4 years ago

Illegality in MLMs and recommendations for law enforcement
An open letter from MLM expert Robert L FitzPatrick of Pyramid Scheme Alert to the US FTC exposes illegality of multi-level marketing (MLM) schemes and how law enforcement agencies can curb it. The same applies for India where thousands of pyramid or network marketing schemes are duping gullible savers everyday and also lobbying for legitimacy

In an 'open letter' to the US Federal Trade Commission (FTC), pyramid scheme expert Robert L FitzPatrick, co-author of the book, 'False Profits', president of Pyramid Scheme Alert and co-founder of the International Coalition of Consumer Advocates, has provided a set of recommendations to the FTC on how to identify illegal multi-level marketing (MLM) schemes and to enforce consumer protection laws on pyramids disguised as 'direct selling'. The paper was sent following a conference call with officials of the FTC Consumer Protection Bureau in which an invitation for suggestions and recommendations was made by FTC officials.

The FTC recently prosecuted one of the larger MLMs, Fortune High Tech Marketing, but only after it had scammed more than 300,000 households and operated openly for nearly 12 years. Currently, the FTC is investigating one of the largest of all MLMs, Herbalife that has operated for more than 30 years.

Bright Lines of Illegality:

The paper submitted by FitzPatrick, entitled, Identifying 'Bright Lines' for Determining Illegality of Any Multi-Level Marketing Company under Section 5 of the FTC Act, lists telltale signs of illegality (unfair and deceptive trade practices):

1. Endless Chain Structure - The sales management chain has no sector of sales people that is focused directly and only on end-users. The sales chain expansion is without limit and without geographic restriction. All new participants, upon payment, are awarded the right and offered financial incentives to recruit more salespeople and extend the chain to multiple levels, usually six to infinity. This reward plan and structure indicate the use of the inherently deceptive“endless chain”, infinity factor” and “unlimited” income claim to induce purchases and fees.

2. Pay-to-Play – Despite providing no territorial protection or even historical saturation data provided to new salespeople, sales/ purchase quotas are imposed with specific dollar volumes of product purchases (either by the distributor personally or his/her recruitment chain). In some cases, there are structural recruiting requirements also imposed in order to maintain a position in the endless chain payment plan. These volume and recruiting quotas are signs of “pay-to-play” factors that operate in tandem with an endless chain structure and recruiting-based rewards to drive purchases and fee payments.

3. Money Transfer - The MLM employs a reward formula that overwhelmingly rewards chain extension activity that is recruiting-based over personal retail sales activity that is market-based. Evidence includes formulas that allocate higher aggregate rewards, per transaction, to those at the upper end of the chain, over those at the base and allocate total commission payout to recruiters in excess of total verified retail profits. Special bonuses and rates on total “group” volume are based on position on the endless chain. They money transfer formulas directly result in an extreme concentration of payments – 50% to 80% – of total payouts to those at the extreme upper end of the recruiting chain. As an example, the report referenced hard data on Nu Skin’s payment of 82% of all its commissions to the top 1.29% of its “active” sales force, which is 0.5% of the entire sales network.

4. Recruitment-Driven - The actual activity of the business is characterised by relentless recruiting, churning and transferring funds from later participants to earlier ones.

5. Little Evidence of Market-based Retail Selling - Little evidence, gained from an examination of marketing materials, website, and reports from participants or researchers, of market-based retail sales, per salesperson, and little evidence of retail profit gains among the sales force.

6. No Income Opportunity for Nearly All Participants - Large-scale losses are evident in the sales force, even among those in the upper one-third of sales chain.

Law Enforcement Guidelines
For law enforcement, the report offered specific reforms that would put any MLM on the legal side.

1. Limit the number of levels that any individual salesperson can personally recruit and gain override commissions to one or several. In combination with other reforms, this measure would eliminate the infinity factor.

2. Require that commissions be awarded only on consummated retail sales, that is to persons who are not signers of the company’s sales contract and are not eligible for recruiting-based rewards.

3. Allow no commissions to be paid on any purchases made by other salespeople or on the salesperson’s own account. This reform eliminates a major incentive for recruiting and for making personal purchases. It would also clearly indicate that all purchases made by the sales force are market-based.

4. Eliminate all purchase/ sales volume or recruiting requirements in order to maintain sales and recruiting authorization. With no geographic limitations or protections placed on MLM salespeople, and no information available on market saturation factors, volume and recruiting requirements serve no other purpose than as recruiting inducements.

5. Establish limited territories for distributors who want to develop sales teams with authorisation based upon management selection. The current practice of open-ended, even global territories and escalation on the sales chain being based purely on volume/ recruiting performance is a telltale indicator of the “endless chain” inducement and the lack of a real-world market basis for sales.

Principles of FTC Law Enforcement and Consumer Protection from Illegal MLMs

1. The establishment of an understandable and consistent “bright line” requires that the FTC take a clearly stated legal stand against the groundless and nonsensical claim of MLM promoters that purchasing products by the participants in multi-level marketing exempts the enterprise from an illegal pyramid definition. The bogus identity of “direct selling” by pyramid selling schemes and the claim of exemption from a pyramid scheme definition based on product purchases have confused and misled millions of consumers (“If the MLM sells a product, it’s can’t be a pyramid!”).

MLM lobbyists have claimed that pyramid scheme definitions must exempt enterprises in which rewards are gained through product sales “to participants.” They have lobbied for this “product exemption” in state laws and tried to get a federal law passed in 2003. In fact, in case after case of MLMs prosecuted by the FTC, the selling products was the disguise of choice, and “direct selling” turned out to be a false identity.

2. FTC must establish and publish a set of recognizable actors indicative of the use of the endless chain as a marketing device, once the endless structure is identified as part of that MLM’s business model.

The evidence of the use of endless chain marketing to induce purchases and fee payments is found in the MLM’s pay formula and in the statement of policies and procedures, both of which are generally published.

Additional evidence can be found in income disclosure documents, website, webinars and in SEC filings.

Evidence of the use of the endless chain is manifested in verifiable loss and churn rates and absence of profitable retail selling. Referencing these classic elements of a pyramid disguised as a sales company can be done in a matter of hours or days. Pyramid fraud is frequently in plain sight.

Mandate for Action Now

By offering bright lines and recommendations for law enforcement, the “Open Letter” supports the message of urgency that the International Coalition of Consumer Advocates delivered to the FTC in October, 2013 with it White Paper and petitions.

Currently, the FTC lacks a consistent or understandable standard for determining illegality of any MLM, rendering effective FTC prosecution and law enforcement in MLM sector essentially impossible and, indeed, virtually non-existent.

By any standard, this position for a law enforcement agency is intolerable. It leaves millions of people in America and around the world without any means of distinguishing legitimate direct selling opportunities from pyramid swindles. In recent years, these schemes have begun targeting the most vulnerable sectors of the public, students and immigrants. The FTC’s untenable position has also generated a dangerous uncertainty in the securities markets, putting pension funds at risk that are invested in MLM enterprises that are being openly challenged for operating illegally.

The scenario in India

Coming back to home, Moneylife has been continuously writing about the inaction by government and regulators regarding MLM companies, money circulation schemes, pyramid-marketing schemes and other similar companies that swindle the unwary public by offering them misleading inducements and depriving them of their hard-earned savings.

In April 2013, after the collapse of Saradha group, the ministry of corporate affairs (MCA) in a face saving measure has decided to hand over probe of such chit-fund, MLM, Ponzi and pyramid scheme operators to a Special Task Force under the Serious Fraud Investigations Office (SFIO). The ministry said the probe has been ordered in view of a larger public interest involved in the issues, although the state governments are the appropriate authorities for regulation of such chit fund companies and schemes under the Chit Fund Act, 1982.

Here are some of the important stories written and representations made by Moneylife over the years…

Moneylife Foundation’s representation to PM, FM and RBI on MLM schemes

In May 2011, following the exposé by Moneylife on Speak Asia Online Pte Ltd and its MLM scheme, Moneylife Foundation sent a representation to prime minister Dr Manmohan Singh, (the then) finance minister Pranab Mukherjee, finance secretary Sushama Nath and Reserve Bank of India (RBI) governor D Subbarao urging them to ban all MLM companies and their schemes in the country, or to bring all MLM companies under the regulation of either the RBI or the Securities and Exchange Board of India (SEBI), to stop them ensnaring gullible people.

West Bengal’s ‘chit fund’ mess and inaction of MCA

The massive money, which is raised surely shows somewhere on the balance sheet of the company, filed regularly with the MCA. The primary recipient of the information about these companies is the MCA, and surprisingly the MCA is the least proactive in the entire process of bringing these perpetrators to regulatory focus, sooner before tonnes of money vanish.

Chain Game

Dubious pyramid schemes or money-circulation schemes are looting Indians across economic strata, finds Sucheta Dalal. This will continue since Central and state governments seem unconcerned.

Pyramid schemes: Daylight robbery

Pyramid marketing companies are looting the public easily, while the government watches. Many countries have banned them outright.

Ponzi Scheme: Is RBI Passing the Buck?

A strange deposit scheme that is proliferating in the states of Orissa, Chhattisgarh, Karnataka and Maharashtra has already collected almost Rs1,000 crore and is expanding virtually unchecked. The scam has elements of money-laundering and possibly the use of fake and forged currency as well; however, the banking regulator would like to pass off the investigation to the respective state governments for investigation under the antiquated Prize Chits and Money Circulation Schemes (Banning) Act.

Coin Game

An international network marketing scheme hawking expensive limited edition coins is attracting a huge following. Sucheta Dalal examines this strange quest.

Ponzi schemes: Free for all

Moneylife readers know how MLM schemes ensnare lakhs of people by promising extraordinary returns. We learn from the ministry of consumer affairs that the government is now waking up to the need for better regulation of MLMs and ponzis. At the same time, the powerful Direct Selling Association of the US is lobbying hard for an amendment.

‘Beware of deception by pyramid schemes, MLMs trying to lure people with promise of high returns’

Pyramids are pure fraud. Their business is unsustainable-they promise payment for goods or services of dubious value. The hallmark of these schemes is the promise of sky-high returns in a short period of time, for doing nothing other than simply handing over your money to them, and getting others to do the same.

Ponzi schemes: The fraudulent art of chain game

Even as India bans pyramid schemes under a statute called the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, the country continues to be a happy hunting ground for pyramids because our legislation is deliberately unworkable.

Dubious Ponzi & MLM Schemes

Investors losing money, or falling for dubious Ponzi schemes, is not a recent phenomenon; this has been happening for decades and it is not restricted only to India. Why is it that people repeatedly fall prey to such schemes in spite of being aware of the frauds perpetrated by conmen under different guises?

Set up inter-departmental group to curb MLMs

EAS Sarma, former power and finance secretary, said the ministry of finance, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the investigating agencies should collectively tackle this problem without any delay, as every day of procrastination will only result in thousands of hapless families cheated by the promoters of these schemes.

How MLMs wave an annulled letter to claim legitimacy of their operations and con people

Spokespersons and dealers of multi-level marketing (MLM) schemes or network marketing schemes respond to questions about their legitimacy by brandishing a 2003 letter issued by the then secretary, ministry of corporate affairs (MCA). What they omit to mention is that the letter was subsequently annulled following complaints about its misuse. This means, the letter used by these scamsters is no more valid.

Pyramid and MLM schemes are scourge on people

While there are existing laws such as Indian Penal Code (IPC), the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (PCMCS Act) and others under which concerned agencies could prosecute the culprits, there is no effective mechanism in place to ensure a coordinated approach to identify the fraudulent operators in advance and book them well before they destroy the livelihoods of thousands of households and launder the ill-gotten funds to unknown destinations.

MLMs now want to ‘invest’ money in India, really?

A set of powerful MLMs, which are part of an exclusive closed club, called the Indian Direct Selling Association or IDSA (on the lines of the Direct Selling Association of the US) has been lobbying hard to make a distinction between their operations and those of others, who they call, fly-by-night operators such as SpeakAsia and Ad Magnet.

QNet, the MLM company, has no answers to Moneylife’s simple questions

QNet, the controversial Hong Kong-based multi-level marketing (MLM) operator with multiple names (GoldQuest, QuestNet, QNet, QI Ltd and QI group are the better known names) refused to answer simple questions like how much money their independent representative (IR) earns on an average every month and why their products are priced so highly. Instead, it sent us a threatening and defamatory mail that raises more questions as to their real motive.

2011: A year dedicated to MLM and Ponzi scheme frauds

If 2010 was the year of great Indian scams, 2011 was rather of ponzi and multi-level marketing (MLM) frauds. SpeakAsia managed to top the chart, but soon many others joined the bandwagon, duping gullible investors for several thousand crores.

How to avoid 'get-rich-quick' schemes and scams

Nothing comes free in this world, especially money. The universal truth is you need to earn your money by hard labour all the time and there are no shortcuts to double it in the shortest span of time. Therefore, even if your near and dear ones tell you he/she will double, triple, quadruple your money within a few days/months, politely reply to them that it is not possible and what they are advocating is a pure 'get-rich-quick' type of scam.

Herbalife is a pyramid scheme worth zero dollars: Bill Ackman

Herbalife, a global MLM scheme also prevalent in India, is believed to be worthless according to hedge fund manager Bill Ackman, who made a detailed presentation on why consumers should avoid buying the company’s products and stay away from the MLM.

http://www.moneylife.in/article/illegali...

jitu moni

4 years ago

http://amwayscheme.blogspot.in/2014_07_0...
The Amway Job
Amway IBOs like to call themselves "Independent Business Owners". But when you sit down and think about this for a minute, I believe that the Amway opportunity is more like a job. As an IBO, you are basically acting as a commissioned salesperson without any benefits coming from the Amway corporation. It's great for Amway as they only pay you for products that are moved. If you work very hard but sell little or nothing, Amway pays you little or nothing. Even if you work hard but move less than 100 PV, Amway pays you nothing.

The Amway corporation can sit back, and simply issue bonuses to downline IBOs. It is the IBOs themselves who recruit others, train others and move the products. Many IBOs are fiercely loyal to Amway products even when they could get the exact same product or a similar product, in many cases, at a fraction of the cost at a big box retailer, or even a local retailer. Take a look at Amway's flagship vitamin (double x). Do you really need to pay $75 or more for a one month supply of multi vitamins? That isn't t say Amway has no products of value, but overall, you can get much more product at less cost by shopping at a retail outlet. Amway must add the cost of IBO bonuses to their prices, therefore their prices are abound to be higher than competing products.

Uplines get you to see the world differently. That you do not equate an hourly wage with your business. But if IBOs did think of their earnings that way, they would easily see that they are working to lose money or to make pennies an hour. For the larger majority of IBOs, working minimum wage would be far more lucrative than spending countless hours and money chasing an Amway dream that is very unlikely to materialize. Uplines also get you to think you are "investing" in your business by purchasing tools, but in reality, you are just a customer of your upline's tool business. Some of you upline might me making most of their income selling cds and function tickets. Tool profits are higher than the profits on Amway so the math is simlpe.

You dedicate yourself to attending meetings, working the phones, meeting with uplines and downlines. You drive a lot of miles. But what many IBOs do not notice is that the priority in building a business should be a focus on getting more customers and expanding sales. But because Amway products can be hard to sell, most IBOs are focused on expanding their business by recruiting others. An endless chain of recruitment, which is why many people think of Amway as a pyramid scheme. Whether it's legal or not as is, is not my call.

But the bottom line in my view, is that Amway is more like a job than an independent business. Call it what you will, but in either case, business or job, it doesn't pay well (or at all) for most.

Amway Will Set You Free?
When I was an IBO, I often saw my upline diamond driving around town dressed in a business suit. I used to wonder why he keeps working if he can "walk away" and collect residual income? My sponsor told me that the diamond only works because he cares about his downline and wants to help them. So there are two possible scenarios, the diamond is working to help his downline out of a genuine concern for them, or possibly he is working because he has to! The only difference now is that the diamond works the nite and/or graveyard shift, because many IBOs are building the business after the complete their day jobs. This is probably why diamonds sleep until the "crack of noon", because they are working all night!

Now Amway has stated that the average diamond earns about $147,000 a year. That is a decent income, but after taxes and paying for basic expenses such as medical and dental insurance, the average diamond probably lives a very middle class lifestyle. Keep in mind that a large portion of a diamond's income comes in the form of an annual bonus, thus a diamond's monthly income may be quite small. Yes, diamonds may have other sources of income such as speaking engagements and income from standing orders and functions. But this income depends on the diamond's continued appearances and efforts.

So is it likely that a diamond is "free"? I would have to conclude that a diamond is not free, and may actually have to spend more time maintaining his group than if the diamond simply had a 9-5 job. For one thing, a diamond needs to maintain a personal group to keep qualifying for bonuses. With a poor retention rate in Amway, I am fairly sure that a diamond spends much time recruiting personally sponsored IBOs to maintain this group. Additionally, a diamond must help his six or more groups of downline platinums to maintain their businesses or face the possibility of falling out of qualification. My former diamond dropped down to the emerald level but has since re-qualified at diamond. A diamond must also dedicate time to reward up and coming movers and shakers, to keep them motivated. I got to spend time with my upline diamond when I was considered a promising up and coming pin.

In order to continue to receive tools income, a diamond must also travel to numerous functions and speaking engagements. Although the tools income allegedly doubles a diamond's income, it also adds a lot of expenses, especially if the diamond and his family travel first class to show off the diamond lifestyle, and stays in 5 star hotels. It is probably why diamonds need free transportation to and from the airport and why they stay with friends when traveling as much as possible.

After breaking down projected income and considering projected expenses, I can only conclude that a diamond probably lives a middle to upper middle class lifestyle, and probably works as much as a man with a 9-5 job, except that a diamond works nites and weekends. A good portrait of this is shown in Ruth Carter's book (Amway Motivational Organizations: Behind The Smoke and Mirrors). In the book, the diamond had a net income of over $300,000, but lived in debt, could barely pay his mortgage, and was always on the run from one function to the next. It is very expensive and time consuming to travel from city to city showing off your freedom and diamond lifestyle.

Is this the freedom you are seeking?

gurupreet

4 years ago

Hi All,

People from all over India keep calling and messaging me asking for why nothing is happening in the QNET case. Well friends many things keep on happening all the time but i have not been able to post on blogs recently.

Just a Update...

QNET has started firing many lawyers out of their cases, but i wonder how that will HELP? How stupid it has been for copy paste lawyers to have filed those stupid ABA,s in the first place and now junior advocates are becoming the fall-guys.

Many cases were lodged against me and the EOW in various courts including Bombay High Court, Sessions Court-Mumbai, Esplanade court etc.

I have faced many seniors advocates and counsels like Nitin Pradhan, Abad Ponda, Haresh Mohan Jagtiani etc who have been defending various QNET companies. I have appeared in-person in all these courts i.e without any advocate and till date no QNET company has been able to get any favorable order in any of the several cases filed by them.

After the QNET websites were blocked by an order of the court these scamsters were again conducting the online scam by forming different sub-domains of the main web site for eg, http://www.qbuzz.qnet.net , and used to post these links using URL shortening services on Facebook etc to show case to new users that see our web sites are functioning and there are no issues. I think even this backdoor has been fixed now.

Also the links https://portal.qnetindia.in/
https://portal.qnet.net/eStore4/verifyreferrer.aspx?language=EN
were working and these links were the portal logins thru which new sign ups used to take place. These links were working as again they were hosted on sub-domains i am sure even that has been fixed and these links are not resolving now.

My request to every one is you please call/contact me only if you want to fight this menace in our country and i am ready to help any one for that, but i am not in a position to argue or make clarifications regarding the SCAM.

This fight will go one never the less. People say why there is so silence..but in the past also "There has always been silence before the STORM".

Regards
Guru

jitu moni

4 years ago

Cops tracking ‘Diamonds’ of Amway
Hyderabad: The top police officials of the two States of Andhra Pradesh and Telangana have launched a massive hunt to track down the ‘Diamonds’ and other members of Amway India Enterprises to make sure their role in the multilevel marketing scam of the US-based company.

According to informed sources, the police of both the states are even sharing information regarding the list of upline members in the hierarchy of Amway India Enterprises, who share commissions on purchase of products by the downline members. The sources said that in the business model of Amway, the upline members who enroll new members into the scheme of purchasing products received sizable income which was nothing but easy and quick money. “Once the list of the ‘Diamonds’ is prepared and their income on commissions is confirmed, we go ahead with arresting them also,” the source said.

Meanwhile, the police on Monday arrested the MD and CEO of Amway, William S Pinckney, who is presently in Charlapalli Jail and presented him in the judicial court which sent him to remand for 14 days. The MD was sent back to Charlapalli Jail. It is learnt that the police would file a petition in the court seeking custody of Pinckney for interrogation to take the criminal case against him to a logical conclusion.

A police official said that the law would take its own course and charge sheets would be filed soon in the criminal cases against Amway India. In another twist to the criminal case against the MD of Amway, the High Court did not issue any orders on the petition filed by Amway India to exempt its managing director Pinckney from surrendering the passport to the police department. However, the passport surrender order issue has become an impediment for the release of Pinckney on bail.


http://apthenewstate.in/2014/07/cops-tra...

jitu moni

4 years ago

http://www.consumercomplaints.in/bycompa...

parul.goel on Jun 21, 2014

there is a team of people operating in chandigarh, panchkula mohali. selling fake dreams and conning people of their money. Its a mlm scam. They will tell you its a great business opportunity it will make you crores and they have already brought bmws. its all lies. Fake it till you make it. The cons are mostly found sitting in ccds in sector 14 panchkula. The names of the people in this scams operating in chandigarh panchkula mohali are. 1. Gunjan Nagpal- https://http://www.facebook.com/gunjan.nagpal.75 she owns aura by gunjan. 2 Deepshikha Mahajan- https://http://www.facebook.com/deepshikha.mahajan.3 she owns agadh design studio. 3 sahil nagpal- https://http://www.facebook.com/Thesahilnagpal he sells meat by nagpal foods 4 rashi arora- https://http://www.facebook.com/rashi.arora.3367 5 amit soni who comes from mumbai. Many of the higher ups have landed in jail. These people are trying to con people every day beaware of them

jitu moni

4 years ago

http://www.consumercomplaints.in/bycompa...

parul.goel on Jun 21, 2014

there is a team of people operating in chandigarh, panchkula mohali. selling fake dreams and conning people of their money. Its a mlm scam. They will tell you its a great business opportunity it will make you crores and they have already brought bmws. its all lies. Fake it till you make it. The cons are mostly found sitting in ccds in sector 14 panchkula. The names of the people in this scams operating in chandigarh panchkula mohali are. 1. Gunjan Nagpal- https://http://www.facebook.com/gunjan.nagpal.75 she owns aura by gunjan. 2 Deepshikha Mahajan- https://http://www.facebook.com/deepshikha.mahajan.3 she owns agadh design studio. 3 sahil nagpal- https://http://www.facebook.com/Thesahilnagpal he sells meat by nagpal foods 4 rashi arora- https://http://www.facebook.com/rashi.arora.3367 5 amit soni who comes from mumbai. Many of the higher ups have landed in jail. These people are trying to con people every day beaware of them

jitu moni

4 years ago

7 Point Charter

If you are a victim of Qnet and have lost money or know someone who has lost/invested money by believing false claims of their friends and relatives.
Then follow these steps
1.Emailed complaint to [email protected]

2.Send a formal written complaint letter along with product purchase receipt etc as evidence through registered post to the address below:
Mr. Kapase Investigating Officer Qnet Economic Offenses Wing-3 Crime Branch Mumbai Police, Police Commissioner's Office,Opposite Crawford Market, D N Road, Fort Mumbai 400001.

3.Keep proof of letter of posting and a xerox copy of complaint.

4.Email [email protected] and [email protected] demanding refund.Save your emails.

5.Call/sms FIR complainant Gurupreet Singh Anand on 07498063701 for any query regarding all India FIRs, police complaints, ongoing court cases etc.

6.Follow developments on Moneylife Qnet (comments section) and join our Facebook group 'Anti Qnet India', where we are all exposing this MLM company along with others in a big way.

7.Spread the word and this message if you can, as it will be a big help.

jitu moni

4 years ago


QNet Multi Level Marketing in India – Review
Posted on 3 June, 2014 by consumer — No Comments ↓

My friend Natraj Korgaonkar suddenly called me after 1 year, regarding a business meet. When he met me he started to enquire about my financial status, so I shared that it was not that good. He told me that he was running a business for which he left his job & is making more than the salary offered by the job. That sounded good so I fixed a meet. He told me that, it is 4 to 5 years project in which we will meet the VP (Vice Presidents) from different companies in the whole world. He assured that in this business I will be able to make rupees 4 to 5 crore in next 5 years. He asked me that if i would like to join him. I asked for a bit of details from him. He took me to his senior partner, named Mikhil Samel. Mikhil told me that they have very less positions for partners, which was valid only for that day hence i have to book the position immediately without delay, otherwise they will sign up some one else for their business project.

For this I was suppose to pay Rs. 3 lakhs to start the business, I did not have the arrangement for that sum so I said no to it. Then they said you can pay the booking amount approximately $595 (INR 45,000) and block the position. So I did the same. Then he insisted to make my husband join under me. I said will have to try first & then will put more money in the business, they then assured me the they will manage the business for me and were reluctant to share what exactly the business idea was. Since Natraj Korgaonkar was a trusted friend & used to work with me I believed it & also enrolled my husband for the same amount $595 (INR 45,000). When i asked about the business, they mentioned that “it is an e commerce business. Hence by paying money, i will be buying 3 shares of the company named Q.Net and i will be a partner”. They said ” I will get a IR code, which i can circulate amongst my friend & relatives circle and whenever they will shop, i will get the 10% to 14% of the total amount. They told me that projected profit per partner is 4.81 crore in 4 to 5 years. So, it’s not at all tough business.” When i was asking about company & business more, he never answered. He said its not our “standard operating procedure” SOP and you will know it gradually. As they were pressurizing me for money to close the position. I applied for loan, and i made an online purchase on the website using my credit card for both the transactions. We were not given options as to what we can buy & were forced to buy the holiday package (Explore 1 for 7nights & 8 Days).

Before enrolling said that this is very easy, he had promised me that I had to put in 2 to 3 hours daily from home, where few days later as after enrolling & making the payment he said I have to work at any time of the day & only as per his availability & meet at the place feasible to him. Most of the time when I called him he was busy during the day time & could not provide enough support. He used to come home at late night to explain the further procedures. I was not comfortable but had no option as I had payed already. I was shocked to see, that the destination for the Holiday package will decided by the company as per hotel & room availability & I had to suggest 3 options for the destination also that I will have to pay a sum of INR 6500 to book the date of my holiday which was not explained earlier. He showed me financial’s of the company and while seeing financials i came to know that it is “Network Marketing”, and I have to make 6 partners to start making money. than i realised that something wrong has happened with me. After Financials he took me to Mc Donalds, Hub Mall Goregaon, Mumbai for some Welcome session, In which they were talking about “Dreams”. They told me to write down minimum 20 Dreams that i would like to fulfill, than he told to make a name list of people whom i know. minimum 500 names. He explained that our name list should exceed by 10% every month, means we have to make new friend to make business partners. etc. The very next day after this session, he took me to a conference that these people call it as “System”. Where their Senior Partners (they call them Uplines) come and address the audience by showing off money & their experience. Still I was not clear that what is this all going on? What I have to do in business? and Natraj was not answering me regarding anything. Whenever i questioned him, he roudly replied that “just do as i am saying, dont dare to run your own brain in this work. No Questions, Just do as i say”. He gave a set of books and DVD’s to study before i start this business for which I had to pay additional INR 1000. I read the books & watched the DVD’s they were all about how to do network marketing. I was amazed to see, that I have got trapped by the tactics shown in the DVD’s & Books. Next time when he met me, he told me about Hot, Warm & Cold Zones. Hot Zones – Means the people who are very close to you and trust you a lot like your parents, best friends and relatives. Warm Zones – Means your normal friends Cold means – the people whom you dont know at all. These zones were the targets for them.

Natraj told me to make name list of all 500 contacts on my social networking websites. I was doing it than he told me to call up my near dear ones and tell them ” Bada acha business hath laga hai, send me money of minimum Rs.1 lakh immediately to my account. Agar profit nai mila toh, i will give you double amount in 3 years that no bank will give” He told me show urgency by saying ” I have only 1 position and i have to close it immediately, send me money jaldi se” . he told me not to answer any questions of anyone and keep the call. I felt very strange about all these things. According to me, this is not a right or ethical thing that was happening with me. Whatever they were teaching me, was not at all convincing for me. My ethics doesn’t allow me to do anything wrong and lie anyone for money. Hence after seeing all this, i started asking more questions from Natraj and he started getting more & more rude with me. I have been cheated because i saw that, they are teaching me ways to make people fool and get the money from your own friends & relatives. i found it completely unethical. The people who are called Up Lines, listen to every call. They listen to calls to know what are we talking about, as we are not supposed to say a single word without their permission. They want me to get people on the table to see this business plan, and immediately pay them money. I felt my money has been wasted unnecessarily and still i have to pay INR 6500 for the holiday package. I was never informed about the return policy or else I would have changed my decision to pay for this scam. On sheer trust i gave money and now i am paying EMI’s because i can’t lie or break anyone’s trust. Hence I didn’t even made a single partner in this business. I would like to get my money back, so that I can pay my loan back and can live my life peacefully.

Regards
[email protected]

http://www.complaintbox.in/qnet-multi-le...

jitu moni

4 years ago

Beware Folks!! Another promo circulated "Start Living" 24th May - 4th July (early bird period too)with Indians mostly,(see facebook comments) promising to Pathman for achieving their targets (read family and friends)in the hope of so called "max out"

https://http://www.facebook.com/pages/V-Managing-Direct...

jitu moni

4 years ago

QNET files appeal against Magistrate's order blocking websites
Press Trust of India | Mumbai
May 29, 2014 Last Updated at 18:38 IST
Hong Kong-based multi-level marketing company QNET, allegedly involved in Rs 425-crore financial fraud, today filed an appeal in a sessions court here challenging a lower court order which had blocked its websites.

The appeal would come up for hearing by May 31, court sources said.

On a plea made by Economic Offences Wing (EOW) of Mumbai police, a city Magistrate had on May 3 issued an order asking Indian Computer Emergency Response Team (CERT) of Information and Technology Department of the Union Government to block the websites/servers of the company.

Accordingly, the CERT blocked these websites which were allegedly indulging in online illegal money circulation schemes. Being aggrieved, QNET filed an appeal in the sessions court.

The EOW had alleged that the websites of QNET induced the people to jump into money circulation scheme and thus they got cheated by way of selling various products.

The EOW had arrested nine team leaders of QNET for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices. However, they were released on bail later.

QNET has also been accused of using the banned binary pyramid business model for their multi-level marketing schemes to entice investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

QNET contended in the appeal that it used its websites -- http://www.Qnet.Net, http://www.Questnet.Net and http://www.Qnetindia.In -- as their "e-commerce" platform to sell various products.

The company said that without hearing them or giving them an opportunity to plead its case, the Magistrate passed the impugned order asking the authorities to block websites.

QNET argued that it was engaged in e-commerce and hence its websites is their blood line. The EOW want to block their website to stop the blood line and bring the company business to collapse before proving the allegations levelled against them in the FIR registered in August last year.
http://www.business-standard.com/article...

jitu moni

4 years ago

Amway Chief Executive Pinckney in Khammam Police Custody
Press Trust of India | Updated On: May 28, 2014 23:53 (IST)
Hyderabad:

The Khammam police in Andhra Pradesh took Amway India chief executive William Scott Pinckney into custody on Wednesday following registration of a case against the direct selling company.

Amway is facing nine criminal cases at various places in Andhra Pradesh.

A court in Kurnool district also rejected Mr Pinckney's bail petition and granted his five-day remand to Kurnool police while the Punjagutta police registered yet another case against him.

However, before Kurnool police could take his custody, the Khammam Police obtained a production warrant from a court in Khammam and furnished it to the Kadapa jail authorities on Wednesday evening. A complaint has been filed against Amway by one G Rama Rao in Khammam.

"We have taken him (Pinckney) into custody from Kadapa prison....He will be produced before a court in Khammam district," a senior police official told PTI on Wednesday evening.

Kurnool Superintendent of Police (SP) Raghurami Reddy said they will seek Mr Pinckney's custody from Khammam police by producing the Kurnool court's order. "We may lose one day (of custodial interrogation period) in this process," he said.

"The police were permitted to take him (Pinckney) into five-day custody from tomorrow (by Kurnool court). It (the Amway business) is going on for the past several years. We need to find out the details about the company's revenues and mode of operations," the police official told PTI over phone from Kurnool.

Responding to a complaint alleging financial irregularities in Amway's operations, Mr Pinckney was arrested in Gurgaon by the Kurnool Police. He was produced before a court on Tuesday which sent him to Kadapa district jail on a judicial remand.

Meanwhile, a complaint of cheating was registered against Amway in Punjagutta police station in Hyderabad by a local organisation on Wednesday, said Deputy Commissioner of Police (West Zone) V Satyanarayana.

"The matter has been forwarded to the legal cell seeking its opinion as no victim has come forward with regard to the complaint....the victim has to come forward and tell about the alleged wrongful loss caused by the multi-marketing business run by the company," he said.

Amway faces criminal complaints in Guntur, Vijayawada, Prakasam, Khammam, Warangal and Medak. In addition, there are three cases in Hyderabad.

According to police, the CID had registered a criminal case against Amway in 2006. The company approached High Court seeking a declaration that its marketing scheme does not fall under the provisions of 'The Prize Chits and Money Circulation Schemes (Banning) Act, 1978'.

But the HC held that the scheme is an illegal 'Money Circulation Scheme' and falls within the definition of mischief as described in the Act. The company got no relief from the Supreme Court either, as per the police.

Terming the FIRs as "frivolous and misleading", Amway in a late night statement said Mr Pinckney has been denied bail and the company will move higher court.

It also said the police started moving Pinckney from Kadapa jail to Khammam jail even before the outcome of the bail hearing in Kurnool. This movement was based on another "frivolous" FIR lodged in Khammam some days ago, it added.

"Subsequently, in the evening, the bail application of William Pinckney was denied by the Kurnool court. We will now approach the sessions court."

"We maintain that the allegations mentioned in the FIRs are frivolous and give a misleading impression about our business. We had no prior information about the FIR which was filed way back in December 2013," it said.

The developments highlight the need to amend the Prize Chits and Money Circulation Schemes (Banning) Act 1978 (PCMCS) under which the complaints have been filed against Amway and its CEO, the statement said.

"Frivolous or motivated complaints filed against a legitimate direct selling company like Amway have been misinterpreted and booked under the PCMCS Act. As pointed out by the Secretary General of FICCI yesterday, such instances can potentially damage the country's reputation as an investment destination," it said.

The company ask the authorities to take note of the challenges faced by the direct selling industry and provide guidelines to recognise legitimate direct selling companies. The direct selling industry generates an annual revenue of more than Rs. 7,100 crore, it said.

Amway operates its business through the direct selling model in markets with very stringent direct selling and consumer protection regulations like the USA, UK, China, Malaysia, Singapore, Vietnam without challenge or inhibition maintaining the highest levels of probity, integrity, corporate governance and consumer protection standards, it said.
http://profit.ndtv.com/news/corporates/a...

gurupreet

4 years ago

Message to the SICK QTARDS (Qnet Retards).

Welcome back from the WE-Con.

Your leaders made claims and were posting many things like we are back "Stronger and We will make it grow BIGGER", I hope you all like this pleasant surprise of all your web sites being blocked now.

Well You all white collared criminals had been cheating innocent people even after my FIR was registered and action by the EOW by making statements that "TILL DATE NO COURT HAS ORDERED ANYTHING AGAINST US"

So Dear QTARDS how do u all feel to know that a competent court has ordered for blocking of all known web sites running this SICK QNET SCAM ONLINE.

This is the site i been waiting to see since long...here is the image

http://imageupper.com/i/?S0200010100011B...

For non-techies it means no web services are responding of the qnet web sites.

With the premier agencies having started investigations into this decade old SCAM, i am sure the flight details and flight manifests of all you sick QTARDS is under radar and all those QTARDS who have taken innocent people to Malaysia this year for the WE-CON will be arrested soon...

Jai Hind
Guru

jitu moni

5 years ago

All that glitters is not gold in network marketing
CNN-IBN
Feb 26, 2008 at 11:35am IST

Software professional A V S Satyanarayana changed gears to become an Amway distributor only to realise he could not steer his life anymore. “What they publicise and talk inside are completely different. It is very much illegal. You can’t force your consumer to buy certain things and you can't force another consumer to utilise these things,” says Satyanarayana.

When his family life started to come apart Satyanarayana opted out but not before filing a FIR against Amway India Enterprises with the CID in Hyderabad. “I expressed my unwillingness to continue in the scheme and inability to enroll other member. They approached my family members and office subordinates and started to harass them to join in the scheme on my behalf,” says Satyanarayana.

“Amway confuses distributor as consumer, consumer as distributor. If consumer raises his voice and says this product is costly and suddenly they say you are a distributor you can't talk and if you go as a distributor say you need low prices,” Satyanarayana.

Loss or gain

A CNN-IBN investigation sought to find out the truth about multi-level marketing. It met a couple whose children sank their retirement benefits into network marketing. Dr Umamaheshwar Rao, a retired scientist, and his wife were initially supportive of their children's venture.

“For over five or six years they were into the business. I went along with them supported them in every way financially, physically and morally, but in the end it was found to be a losing game by themselves,” says Rao.

The expenditure was guaranteed but not the income. “The net result is a loss. The sales were less and the money spent in the game was more.” The family lost several lakh rupees even as their children drifted away.

PAGE_BREAK

“It ruined our inter-personal relationships. People were cult controlled in immeasurable ways,” says Rao, who has filed a public interest litigation (PIL) for action against Amway.

In Percherla village, in Andhra Pradesh's Guntur district, the CNN-IBN investigation met more families who accuse network marketing companies of exploiting their ignorance and illiteracy.

Anasuya is a tailor. She has been dealing with angry neighbours ever since she got them to join the network-marketing scheme of Pearls Agrotech Corporation. “They told me pay Rs 1,365 per annum and after five and half year you will get Rs 10,900,” says Anasuya.

“The agent pursued me and said if I get 10 members I will be paid more commission. They were even promised plots of land as payment. They gave bonds in which there is no money but a plot I don't know where this plot is,” alleges Anasuya.

People from Percherla have been duped into shelling out almost Rs 20 lakh for land that only exists on paper. In Ramadevi's case after this dud investment, her husband just walked out on her.

“The money I paid was without the consent of my husband that led to problems. My husband left home,” says Ramadevi.

When contacted Pearls Agrotech refused to comment.

The recipe for success

Like Indian companies, Amway has also found its way into the villages of Andhra Pradesh. Brammiah Addanki wanted to do better in life, and was told that by joining Amway he could achieve his dream of owning a concrete house.

Brahmiah and his wife earned just Rs 4,000 a month and they poured all of that to become Amway distributors. “They promised my wife air tickets. She was told to enroll more persons to earn her commission. We were also told these products would earn us a lot of money,” says Brahmiah.

They spent thousands on enrolling members and stockpiling products… including items they didn't even need. Till they realised that buying was easier than selling.

“Out of Rs 20,000 I only recovered Rs 5,000. We had to consume most of it ourselves because these items are too expensive for others in the village. We put our savings into this. We borrowed money, now we are in debt,” says Brammiah.

PAGE_BREAK

Gajulapeta in Ibrahimpatnam is full of families who have lost money chasing the promises held out by network marketing firms.

Baali, a daily labourer earning Rs 50 a day, mortgaged her house hoping to become a successful Amway Business Owner. “When they met me, they said it's a great opportunity to earn money. I didn't have spare money then, so I raised it by mortgaging my house,” says Baali.

“First I paid Rs 5,000, then Rs 2000 and then Rs 2000 again. Like this I paid Rs 50,000 borrowing on interest,” says Baali.

“Companies create a rosy picture saying you should become a member of multi-level marketing and you will get many things. They say you will get health as well as wealth,” says Divakar Babu, of the Consumer Guidance Society.

Baali, like most women in Gajulapeta, got none. She curses herself for not being able to look beyond the gloss. CNN-IBN then approached the woman who introduced Amway and roped in all her neighbors to do network marketing in this small village.

B Lakshmi didn’t know about the risks of network marketing and enthusiastically made a down line of 30 people. “They said it depends upon the number of people I can convince to join. I was told I could earn up to Rs 50,000 a month. I would start with Rs 5000 and by the end of one year it would be Rs 50,000,” says Lakshmi

To sail the seven seas, she even borrowed from micro finance schemes. Lakshmi and her husband's story will never make it to these brochures her husband is livid and the neighbors unforgiving…

When asked how they chose their distributors, in a written response, Amway admitted that no minimum educational qualifications were required. Self-belief and a strong desire to succeed in the long term was needed in the business, the company said.

Amway Response:

"The Direct Selling Industry does not "impose" any minimum desirable educational qualification"

"For distributors, self belief and a strong desire to succeed with a long term business perspective is needed"

http://ibnlive.in.com/news/all-that-glit...

jitu moni

5 years ago

Investor Alert: Beware of Pyramid Schemes Posing as Multi-Level Marketing Programs

The SEC's Office of Investor Education and Advocacy is issuing this Investor Alert to warn individual investors about pyramid schemes, a type of investment scam that fraudsters often pitch as a legitimate business opportunity in the form of multi-level marketing programs.

Have you ever been tempted by an advertisement or offer to make "easy money" or "online income" out of your own home? Multi-level marketing ("MLM") programs are promoted through Internet advertising, company websites, social media, presentations, group meetings, conference calls, and brochures. In an MLM program, you typically get paid for products or services that you and the distributors in your "downline" (i.e., participants you recruit and their recruits) sell to others. However, some MLM programs are actually pyramid schemes -- a type of fraud in which participants profit almost exclusively through recruiting other people to participate in the program.

Pyramid schemes masquerading as MLM programs often violate the federal securities laws, such as laws prohibiting fraud and requiring the registration of securities offerings and broker-dealers. In a pyramid scheme, money from new participants is used to pay recruiting commissions (that may take any form, including the form of securities) to earlier participants just like how, in classic Ponzi schemes, money from new investors is used to pay fake "profits" to earlier investors. Recently, the SEC has sued the alleged operators of large-scale pyramid schemes for violating the federal securities laws through the guise of MLM programs.

When considering joining an MLM program, beware of these hallmarks of a pyramid scheme:

No genuine product or service. MLM programs involve selling a genuine product or service to people who are not in the program. Exercise caution if there is no underlying product or service being sold to others, or if what is being sold is speculative or appears inappropriately priced.
Promises of high returns in a short time period. Be leery of pitches for exponential returns and "get rich quick" claims. High returns and fast cash in an MLM program may suggest that commissions are being paid out of money from new recruits rather than revenue generated by product sales.
Easy money or passive income. Be wary if you are offered compensation in exchange for little work such as making payments, recruiting others, and placing advertisements.
No demonstrated revenue from retail sales. Ask to see documents, such as financial statements audited by a certified public accountant (CPA), showing that the MLM company generates revenue from selling its products or services to people outside the program.
Buy-in required. The goal of an MLM program is to sell products. Be careful if you are required to pay a buy-in to participate in the program, even if the buy-in is a nominal one-time or recurring fee (e.g., $10 or $10/month).
Complex commission structure. Be concerned unless commissions are based on products or services that you or your recruits sell to people outside the program. If you do not understand how you will be compensated, be cautious.
Emphasis on recruiting. If a program primarily focuses on recruiting others to join the program for a fee, it is likely a pyramid scheme. Be skeptical if you will receive more compensation for recruiting others than for product sales.

The SEC has taken emergency enforcement action to stop alleged pyramid schemes that violate the federal securities laws, including schemes disguised as MLM programs.

For example, in a recently filed litigation, SEC v. CKB168, the SEC filed charges to stop an alleged pyramid scheme perpetrated under the façade of an MLM program for online children's courses. The promoters of the scheme allegedly solicited investors worldwide, including targeting members of Asian-American communities in New York and California. The SEC alleges that these promoters misrepresented CKB as a legitimate and profitable MLM company that sells web-based children's educational courses when, in fact, CKB has little or no retail consumer sales and no apparent source of revenue other than money received from new investors.

In an adjudicated settled action, SEC v. Rex Venture Group, the SEC shut down a $600 million fraud that duped approximately one million Internet customers through a complex investment scam involving a Ponzi scheme promoted as a daily profit-share pool and a pyramid scheme pitched as an MLM program for Zeekrewards.com, the self-described affiliate advertising division for zeekler.com, a penny auction website. The SEC alleged that, for the pyramid scheme component of the scam, the defendants promised bonuses and commissions to customers for enrolling in a monthly subscription plan and recruiting others to join the plan. However, according to the SEC's complaint, new customers' funds were pooled and used to pay recruiting bonuses to existing customers because there was no substantial legitimate revenue from product sales.

Pyramid schemes cannot be sustained and always collapse eventually. Protect yourself and your money by steering clear of any "opportunity" bearing warning signs of a pyramid scheme.

http://www.sec.gov/investor/alerts/ia_py...

jitu moni

5 years ago

meghpol.nic.in/alert/Alert_MLM.pdf

jitu moni

5 years ago

I. Money Circulation/Multi-Level Marketing (MLM)/ Ponzi Schemes/ Unincorporated Bodies (UIBs)

45. What are money circulation/Ponzi/multi-level marketing schemes?

Money circulation, multi level marketing / Chain Marketing or Ponzi schemes are schemes promising easy or quick money upon enrollment of members. Income under Multi level marketing or pyramid structured schemes do not come from the sale of products they offer as much as from enrolling more and more members from whom hefty subscription fees are taken. It is incumbent upon all members to enroll more members, as a portion of the subscription amounts so collected are distributed among the members at the top of the pyramid. Any break in the chain leads to the collapse of the pyramid, and the members lower in the pyramid are the ones that are affected the most. Ponzi schemes are those schemes that collect money from the public on promises of high returns. As there is no asset creation, money collected from one depositor is paid as returns to the other. Since there is no other activity generating returns, the scheme becomes unviable and impossible for the people running the scheme to meet the promised return or even return the principal amounts collected. The scheme inevitably fails and the perpetrators disappear with the money.

46. Is acceptance of money under Money Circulation/Multi-level Marketing/Pyramid structured schemes allowed?

No. Acceptance of money under Money Circulation/Multi-level Marketing/Pyramid structured schemes and Ponzi schemes is not allowed as acceptance of money under those schemes is a cognizable offence under the Prize Chit and Money Circulation (Banning) Act 1978.

47. Does RBI regulate Money Circulation/Multi-level Marketing/Pyramid structured scheme?

No. Prize Chits and Money Circulation Schemes are banned under the Prize Chits and Money Circulation Schemes (Banning) Act of 1978. The Reserve Bank has no role in implementation of this Act, except advising and assisting the Central Government in framing the Rules under this Act.

48. Then who regulates entities that run such schemes?

Money Circulation/Multi-level Marketing /Pyramid structured schemes are an offence under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. The Act prohibits any person or individual to promote or conduct any prize chit or money circulation scheme or enrol as member to its schemes or anyone to participate in it by either receiving or remitting any money in pursuance of such chit or scheme. Contravention of the provisions of this Act, is monitored and dealt with by the State Governments.

49. What if someone operates such a scheme?

Any information/grievance relating to such schemes should be given to the police / Economic Offence Wing (EOW) of the concerned State Government or the Ministry of Corporate Affairs. If brought to RBI notice – we will inform the same to the concerned State Government authorities.

50. Who can the Depositor/Investor turn to in case of grievances?

The two Charts given at Annex I and II depict the activities and the regulators overseeing the same. Complaints may hence be addressed to the concerned regulator. If the activity is a banned activity, the aggrieved person can approach the State Police/Economic Offences Wing of the State Police and lodge a suitable complaint.

51. Who has the power to take action against Unincorporated Bodies (UIBs) accepting deposits?

As per Section 45T of RBI Act, both the RBI and State Governments have been given concurrent powers. Nonetheless, in order to take immediate action against the offender, the information should immediately be passed on to the State Police or the Economic Offences Wing of the concerned State who can take prompt and appropriate action. Since the State Government machinery is widespread and the State Government is also empowered to take action under the provisions of RBI Act, 1934, any information on such entities accepting deposits may be provided immediately to the respective State Government’s Police Department/EOW.

Many of the State Governments have enacted the State Protection of Interests of Depositors Act in Financial Establishments, which empowers the State Government to take appropriate and timely action.

Section 45S of the RBI Act 1934 specifically prohibits unincorporated bodies like individuals, firms and unincorporated association of individuals from accepting deposits from the public if they are carrying on financial activity or are accepting deposits as their principal business. The Act makes acceptance of deposits by such UIBs punishable with imprisonment or fine or both.

The RBI Act, 1934, gives concurrent powers to the Reserve Bank and the State Government to obtain a search warrant from the Court to investigate the acceptance of deposits by such UIBs.

An Authorized Officer of the Reserve Bank or the State Government can file a complaint in a court of law against the unincorporated bodies and the individuals concerned for the offence.

http://www.rbi.org.in/scripts/FAQView.as...

jitu moni

5 years ago

State government notifies public against MLM network scams
Imphal Free Press
By Imphal Free Press May 17, 2011 21:00

IMPHAL May 17: In the aftermath of the financial devastation caused by certain networks namely Visarev, Unipay, Forex ,Global Index Daily which had swindled crores from scores of investors from the state, the government has finally addressed the issue.

A notification of the Finance department signed by V K Dewangan, commissioner has informs the public that Prize chits or benefit schemes only give advantage to the promoters and do not serve any social purpose.

Thus, the so called Multi Level Marketing (MLM), though called by very attractive names squarely falls within the definition of `Money Circulation Scheme` under the act and hence prohibited by the Prize Chits and Money Circulation Schemes (Banning) (Manipur) Rules, 1978.

The notification says that the general public should avoid and not enroll themselves into these schemes as they not only destroy the economic fabric of the state but also the fiscal system of the country.

Further, it also informed that MLM schemes destroy the knitted social fabric of our society and therefore, the public should not associate themselves with such companies. Citing previous cases of the Supreme Court and various other courts issuing judgments against the MLM`™s which are camouflaged illegal money circulation schemes, it mentions cases of Amway vs State of Andhra Pradesh, FMCG vs State of Tamil Nadu etc and in these cases, the judgments`™ passed clearly states that these types of schemes are prejudicial to public interest and also adversely affects the efficacy of fiscal and monetary policy as siphoning of crores take place without accountability.

In this regard, the department of Financial Services, ministry of Finance, government of India has directed the Directorate of Enforcement and Central Economic Intelligence Bureau for taking up appropriate action against these major financial scams. The Central Economic Intelligence Bureau, in turn has directed state governments for taking up appropriate action.

Further, it states that the general public, government officials and others concerned that the specific provisions under Prize Chit and Money Circulation Schemes (Banning) (Manipur) RULES, 1978 and relevant sections under section 420 of the Indian Penal Code are available to be invoked and effectively check and prevent progress of such dubious floated companies.

The notice further mentioned that Section 3 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 bans such schemes or participation in such schemes. Section 4 and 5 are penal provisions and prescribe punishment. Section 6 deals with offences committed by such companies. Section 7 authorizes police officers not below the rank of OC to exercise power to enter and search premises and to seize things used for such schemes. Section 8 provides for forfeiture of newspaper and publication containing money circulation schemes. The Preamble of 1978 Act declares that it has been enacted `to ban the promotion or conduct of prize chits and money circulation schemes and for matters connected therewith and incidental thereto`, it added.

The notice mentions that the easy prey is the middle class and loses all their savings even at the cost of their blood relations, with their kith and kin also being victimized. The worst sufferers in such schemes are often unemployed youths who lose their time, health, wealth in the wild goose chase. Such schemes have ultimately destroyed a number of families and friendships, it said.

http://kanglaonline.com/2011/05/state-go...

jitu moni

5 years ago

M/S. Transview Enterprise India ... vs Union Of India on 31 October, 2013
.....
3. Briefly stated the facts are: that the petitioner had imported "Amezcua Chi Pendant" said to be artificial jewellery from its supplier M/s. QNET Ltd., Hong Kong. Value of the goods was declared to be `4,47,45,092/- by the petitioner. Self assessment was made and system appraisal through Risk Management System and the petitioner paid duty of `97,46,340/- on 14.12.2012. The Bill of Entry was taken up for investigation by the Special Intelligence and Investigation Branch (SIIB) on information that the goods were misclassified and under valued. The goods were examined on 27.12.2012 at the warehouse, Customs Freight Station. It was found that the goods were 'Glass Pendant' and not artificial jewellery as stated in the Bill of Entry. It was also stated that they were "Made in Germany" and its country of origin was not Malaysia as stated by the petitioner. The 5

respondent-Department found that the classification was improperly made by the petitioner and that a higher rate of customs duty was applicable to the goods. On further investigation, the Department found that price of the goods were under valued by the importer and that there were several other deficiencies in the import.

4. The second respondent prima facie found that there was a mis-declaration on the part of the importer on the following grounds: a) Description

b) Country of origin

c) Classification

d) Existence of relationship with the supplier e) True transaction value

5. Under these circumstances, goods were seized by mahazar drawn on 11.01.2013. Thereafter, the petitioner sought release of the goods by its letter dated 01.02.2013. In the meanwhile, 6

WP No.19402/2013 had been preferred before this Court. Since the case required adjudication on the aforesaid aspects, the second respondent passed an Order under Section 110(2) of the Customs Act, 1962 extending the detention of the goods by further period of six months upto 10.01.2014.
http://www.indiankanoon.org/doc/14448451...

jitu moni

5 years ago

William Scott Pinckney vs Ut Chandigarh on 17 June, 2013
Learned counsel for the petitioner submits that the petitioner is an American national. He is Chief Executive Officer and Managing Director of M/s Amway India Enterprises Pvt. Ltd. incorporated under the Companies Act. The said Company has a turnover of Rs.2000 Crore per annum in India. The FIR was registered in the year 2002 and thereafter, the untraced report was prepared but due to variety of reasons all of a sudden, the CRM-M No.19553 of 2013 Investigating agency presented the charge sheet in the year 2012.
Petitioner William Scott Pinckney son of Bernard Ross Pinckney is permitted to leave India in accordance with the norms from 22.6.2013 to 29.6.2013 subject to his furnishing security by two Indian Directors of M/s Amway India Enterprises Pvt. Ltd. in the sum of ` 5 lacs each by way of bank guarantee/fixed deposit receipts to the satisfaction of the learned trial Court/Duty Magistrate, Chandigarh.
http://indiankanoon.org/doc/49506765/

jitu moni

5 years ago

Prithvi Raj Bijlani vs Ut Chandigarh on 17 June, 2013

Prayer in this petition is for grant of permission to petitioner Prithvi Raj Bijlani to leave India and visit abroad. The petitioner has been booked for the offence punishable under Section 420, IPC and Sections 3 & 4 of the Prize Chits and Money Circulation Schemes Banning Act, 1978 in three separate cases arising out of the one and same FIR.
The petitioner is an Indian national. He was Director of CRM-M No.19823 of 2013 -3- M/s Amway India Enterprises Pvt. Ltd. at the relevant time.
The petitioner is permitted to leave India from 21.6.2013 to 2.7.2013 subject to his furnishing indemnity bonds in the sum of ` 2 lacs with two local sureties to the satisfaction of the learned trial Court/Duty Magistrate, Chandigarh.
http://indiankanoon.org/doc/166252796/

jitu moni

5 years ago

Amway India Enterprises, vs Union Of India (Uoi), 19 July, 2007
...34. It is, thus, evident that the whole scheme is so ingeniously conceived that the inducement for aggressive enrollment of new members to earn more and more commission is inherent in the scheme. By holding out attractive commission on the business turned out by the downline members, the scheme provides for sufficient inducements for its members to chase for the new members in their hot pursuit to make quick/easy money. On the part of the promoter by pushing each member to achieve the minimum sales worth Rs. 2,000/- per month, (this sale includes enrollment of new members) he is assured of about Rs. 1000 crores per annum. All this squarely satisfy the description of quick/easy money. In addition to this, it is an admitted fact that each person in order to continue to be the distributor, shall pay renewal subscription fee of Rs. 995/- per annum. In para-11(b) of the counter affidavit on the admitted number of distributors of 4,50,000 this amount is calculated at about Rs. 45 crores per annum. These figures are not denied by the first petitioner in its rejoinder. The plea of the first petitioner that there is no compulsion that a member shall renew his distributorship looks to us to be specious. Once a person becomes a distributor in a scheme of this nature where the sops in the shape of commission are so luring, it would be very difficult for a member to withdraw from their membership to avoid payment of the annual renewal subscription fee.
35. From the whole analysis of the scheme and the way in which it is structured it is quite apparent that once a person gets into this scheme he will find it difficult to come out of the web and it becomes a vicious circle for him. In any event the petitioners have not specifically denied the turnover they are achieving and the income they are earning towards the initial enrollment of the distributors, the renewal subscription fee and the minimum sales being achieved by the distributors as alleged in the counter affidavit. By no means can it be said that the money which the first petitioner is earning is not the quick/easy money. By promising payment of commission on the business turned out by the down-line members sponsored either directly or indirectly by the up-line members (which constitutes an event or contingency relative to enrollment of members), the first petitioner is earning quick/easy money from its distributors, apart from ensuring its distributor earn quick/easy money. Thus the two ingredients are satisfied in the case of promoter too. We are, therefore, of the considered view that the scheme run by the petitioners squarely attracts the definition of "Money Circulation Scheme" as provided in Section 2(c) of the Act....

41. The complaint submitted to the CID Police, Hyderabad in this case is exhaustive. The complainant graphically described how the scheme run by petitioner No.1 through the other petitioners and various distributors in the country constitutes money circulation scheme. The gist of the complaint has already been extracted herein before. From the conclusion arrived at by us on the analysis of the admitted material available before us concerning the scheme, we have no doubt whatsoever that if the allegations contained in the report of C.No.1474/C-27/CiD/2006 dated 24-9-2006 are taken on their face value they make out an offence punishable under the provisions of Sections 4, 5 and 6 of the Act.

http://www.indiankanoon.org/doc/1369717/

jitu moni

5 years ago

Pushpam Appala Naidu vs State Of Karnataka on 6 May, 2010

This petition under Section 482 of the Code of Criminal Procedure, 1973 is directed against the proceedings in Cr. No. 28 of 2008 on the file of the I Additional Chief Metropolitan Magistrate, Bangalore, which after investigation is registered as CC No. 13035 of 2010 for the offence punishable under Sections 406 and 420 of the Indian Penal Code, 1860.

2. Petitioners are arraigned as accused. The circumstances leading to registration of such a case is that one Smt. Ayisha Begum, Petitioner 12, filed a report alleging that her neighbour Vazeer Vayathyulla Sharieff, had introduced her to M/s. Quest Net Company on the basis that he was working for it. He persuaded her to invest Rs. 30,000/- on the promise that she would get Rs. 1,000/- income per month. Believing his assurance she deposited the amount. He had actually assured other benefits also, but later it was found it was a trick to defraud the complainant. Cheating Was the main offence alleged apart from the charge under Section 406 of IPC.

3. On the basis of her report, investigation by CID resulted in filing of the final report. Petitioners 1 to 11 are summoned. They are ranked as accused 1 to 11. After lodging of the complaint the complainant-Smt. Ayisha Begum on her own volition sought to withdraw her report, but police officers have not allowed her since the final report has already been filed. Pursuant to filing of the final report case is registered in Criminal Case.

4. In the circumstance, the Petitioners have applied to this Court and the complainant has joined them as party array to support their cause. The complainant has also filed an affidavit in this case indicating that she has no interest in prosecuting the case as she has already received the entire amount invested. The learned Counsel for Petitioners would submit that in view of the fact situation there is no case made out to try them for the offence punishable under Section 420 or 406 of IPC or for Sections 4, 5 and, 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978.

5. On behalf of the State there is little or nothing to say in the matter because the complainant on whose complaint the case was registered and investigation was carried out by the CID, Bangalore has now recalled and withdrawn all allegations. This Court in similar circumstances accepted the plea of the accused and has quashed the proceedings as is evident from the order passed in Cri. P. No. 5607 of 2009, dated 13-11-2009 and also in Cri. P. No. 6600 of 2009, dated 18-12-2009. Since the same issue has arisen for consideration in this case and in view of the Complainant's stand that she does not intend to prosecute her complaint as she has already received the amount and as there was no intention to Petitioners 1 to 11 to defraud her, I am satisfied that no fruitful purpose would be served in continuing prosecution, which will undoubtedly fail in view of the stand taken by the complainant.

6. In the result, the petition is allowed. The proceedings in CC No. 13035 of 2010 on the file of the I Additional Chief Metropolitan Magistrate, Bangalore, are quashed.

At this stage, the learned Additional State Public Prosecutor Mr. Nawaz, submits that the order may be confined only to the Petitioners in this case.

Accordingly, the order would confine only to the Petitioners herein.
http://www.indiankanoon.org/doc/54266024...

jitu moni

5 years ago

Commission starts work in Gold Quest case

TIMES NEWS NETWORK

Chennai: Former Madras high court judge,Justice KP Sivasubramanian,who has been appointed as settlement commissioner by the Supreme Court in the Gold Quest cheating case,will submit a report to the apex court after a six-monthlong inquiry.
The multi-level marketing company is accused of cheating more than 30,000 people.Addressing mediapersons,Sivasubramanian said,Complainants can file their claims on or before May 31. The commissioner may issue notice to Gold Quest International Pvt Ltd and officials of Crime Branch CID (CB-CID ).
According to the police,CB-CID after completing investigation,filed a comprehensive chargesheet on March 2,2009.Police arrested 13 of the 25 accused and registered 11 cases.CB-CID attached properties including cash deposits and vehicles worth Rs 192 crore belonging to the accused and the company.The company was attempting to get the case closed by providing compensation to only about 200 persons mentioned in the chargesheet.Considering the plight of 32,011 complainants and other victims,CB-CID filed a special leave petition before the Supreme Court.The apex court appointed KP Sivasubramanian as the settlement commissioner on April 19.

http://lite.epaper.timesofindia.com/mobi...

jitu moni

5 years ago

Madras High Court
The State Of Tamil Nadu vs Goldquest International Pvt.Ltd on 7 March, 2008

...7. In the case on hand, though it is stated that the accused has settled the claims of several complainants and most of them have given necessary letters withdrawing the complaints given as against him, the element of criminality attached to the acts perpetrated by the accused on the date of complaints is not erased. It is also to be remembered that even the offences alleged against the accused are non-compoundable ones, except the one under Section 420 IPC. It is evident from the facts of the case that 172 persons were cheated by the accused, as against the terms and conditions entered into by them with the customers. Thus, when serious allegations of cheating general public of their hard-earned moneys, by giving false hopes and making use of such amounts collected from the public for self and gained at the public expense, are made against the accused, the learned single Judge is not right in quashing the FIR, merely on the ground that some of the complainants have withdrawn their complaints, forgetting the fact that the criminality attributed to the accused is not erased.

http://indiankanoon.org/doc/186639/

jitu moni

5 years ago


Egypt Business Directory | 14.01.2012
Faith Carnival 2: QNet's "unbelievable" path to Financial Freedom
Over 20,000 men and women strong, QNet has managed to build itself an army in Egypt through their team “Faith”.
The Cairo Hockey Stadium was almost filled, as Independent Representatives (IR) from all over the country stormed in, creating an atmosphere close to the spirit of football-fans, including drums, fireworks, and flags. They all came to attend the second Faith Carnival on Friday, the 13th of January 2012, which should mark the beginning of a new era in Team Faith, Network Marketing and QNet as a whole.

The focus of the carnival was the promotion of Network Marketing, the refutation of economic, social and religious criticism directed at QNet, and the motivation and inspiration of the team.

Almost equivalent to Morton Rhue’s 1981 Novel “The Wave”, the attendees chanted their slogan in such unity, fierceness and willpower that made the floor seemingly shake; screaming out: “The V, the V, the V, Faith!” while shaping the victory-sign with their fingers and holding them up. “The V” refers to the partner company of QNet.

The carnival offered a mixture of party, education, success stories and fun, and hosted international speakers, artists and public figures, such as Michael and Mark Ferreira (Founders and Backbones of Faith), Dr. Ezzat Abo Ouf (Actor), Dr. Sherif Abo ElNaga (Vice-President of 57357 Cancer Hospital), Chief Pathman Senathirajah (Managing Director of V), Dr. Ahmed Farouk Ghoneim (Professor of Economy - Helwan University), Dr. Rashad Abdellatif (Professor of Sociology - Helwan University), Amr Diab (Singer), besides various Egyptian QNet leaders.

Network Marketing depends on the direct selling method in which independent agents serve as distributors of goods and services and start recruiting their customers as their own sales-force.

All speakers were certain that sooner or later, the whole world would join QNet, even those who opposed the idea at the beginning. “If your friends and family do not join today, be patient with them. They will join eventually. We are the warriors of freedom that offer them financial freedom, and when Allah gives this message of hope and power to you, you must have the responsibility and the humility to pass it on,” Mark Ferreira explained during the carnival, confirming that Egypt is part of changing Network Marketing history.

Ferreira’s father Michael focused on the pros of Network Marketing in his speech, clarifying it was much more efficient than other marketing tools, not only because it included no distribution costs, but also because it brought upon societal change and job security. Claiming that it was in the hands of Faith to change the lives of others and the economy of the country, Ferreira Sr. said that Network Marketing was not only about selling products, but also about building a network and army like “this one”, pointing at the 20,000 attendees. “When you have an army, you have an asset that will give you residual income,” he added.

To refute the controversial topic of QNet being against the principles of religion, and especially Islam, the organizers displayed a video showing Sheikh Ali AbdelBaqi, the Manager of the Islamic Studies Advisory Department, and Priest Dr. Sameh Hanna. Both confirmed that the services offered by QNet are not taboo, as long as they go according to the Sharia and the laws and rules of the country.

A lot of effort has also been put into clarifying the economic side and benefit of QNet, underlining that it does not ruin the economy, but rather invests in Egyptians by providing teamwork and social skills, which should lead to a better, service-focused economy in the future. Additionally, QNet does not apparently lead to saturation of people and products, since people do not leave their jobs for Network Marketing and the marketed, imported products do not replace Egyptian manufactured goods.

In the concluding speech, Malaysian expert Pathman Senathirajah boost the confidence of the attendees one more time by stating: “My passport is Malaysian, but my heart is Egyptian, because you built this network, this family and you made it possible despite the great challenges in your country. When people in other countries tell me that it is difficult to build up a business, I tell them: Go to Egypt and learn from the Egyptians.” He was also confident that Faith Egypt would be the number one QNet team in 2012, if they worked as hard as they did till now.

Amr Diab paid a great deal of respect to the “QNet-ers” during his concert, and actor Dr. Ezzat Abo Ouf said: “You should be proud of yourselves, since you are raising Egypt’s name high. You are the hope and future of this country and seeing you makes me optimistic and sure that Egypt will be better. Whole Egypt should stand by your side.”

QNet was established in Egypt in 2009 by Khaled Obbeya, Mohamed Abdallah elGendy, and Mohamed Magdy Allam, 11 years after the original business started in Asia.

Today, QNet is present in over 160 countries with over 8 million employees and over 20 types of services.

Other speakers during the event:
- Ashley Williams – QNet Product Trainer
- Noha Salem and Mohamed Tarek
- Mai Abdel Moneim
- Mahmoud Ghanem
- Khaled Obbeya
- Mohamed Abdallah ElGendy
- Mohamed Magdy Allam

http://www.egypt-business.com/News/detai...

jitu moni

5 years ago

http://www.hyderabadpolice.gov.in/Frauds...

Money Circulation Schemes, Direct Marketing, Multi-Level Marketing Schemes, Network Marketing


Money Circulation Schemes are being promoted in the name of Direct marketing (DM), Multi-Level Marketing schemes (MLM), Network marketing (NWM), Referral Marketing, Introduction Marketing, Chain Marketing etc.


These schemes are nothing but camouflaged Money Circulation Schemes. In the front end the promoters display products and services at the back end it is nothing but Money Circulation Schemes banned under the provisions of Prize Chits and Money Circulation Schemes (Banning) Act 1978.


To divert the attention of the public as well as the Law Enforcement Agencies and to cover up their illegal activity of Money Circulation Schemes they display products and services.


Product is only a bait but end result is Money Circulation Scheme


Money Circulation Scheme means any scheme by whatever name called where in the person has to enroll into the scheme through a already enrolled member by subscribing to the scheme by paying initial kit / member ship amount and purchasing goods and services, where in by this the introducer of the enrolled member will get benefits (easy money) and the company which promotes the scheme earns quick money. The enrolled member again has to enroll further members to get his amount back and also the benefits. By this the promoter of the company by just promoting the scheme gets benefits and the person who enrolls at the initial of the scheme reaps the benefits.


By enrollment into such scheme one would be getting back the initial paid investment and keep gaining financially by enrolling new members. So also, the second set of enrollers keep multiplying and gain financially, fascinating every onlooker to get engrossed into such dubious money circulation schemes. Such a system of chain to work endlessly to provide profit to everyone concerned would ultimately breakdown at some stage, resulting the financial benefit to some who joined the scheme at initial stages (they will be none than the promoters of the scheme), resulting in big financial loss to those who joined at a later stage. When a person fails to get his required clients or non-viability of the scheme but blame it as one’s personal failure. The gullible people are taken unaware when the real failure. The gullible people are taken unaware when the real picture of the money circulation schemes emerges. By the time the people realize that they were taken for a ride and cheated, it would be too late.


The promoters to promote their schemes through high profile campaign by using film stars, Government servants, Doctors, Engineers and well known personalities of the society in their meetings which are conducted in star hotels, Kalyanamandapams etc., with lot of fan fare. Public should refrain from attending such meetings.


Promoters of the scheme float their companies with attractive names like “Wonder World Co.” “Miracle Co” “Japan Life India” "Amway” “Gold Quest” “Ayerveda Life” “Herb Life” “Happy Life Co” “Magic Co.” “Nice Co.” “Mega Co.”, “eBIZ” etc.


They give attractive names to the enrolled members depending upon their enrollment like with attractive and stylish titles as “Silver member, Gold member, Diamond members, Platinum member, so on and so forth. They also call them as “Master Distributor, Super Distributor, Double Super Distributor etc,”, etc


They also use attractive slogans like “ Earn in rupees or dollars. Work from home ” “ Work four hours and earn Rs., 50,000 per month ” “ U R the boss of your business, so enroll immediately” “ Earn up to Rs.35,000/- + Monthly by just working 2 hours at home ” “ Do u want to earn extra by sitting at Home? The contact us ” “ Your pathway to Heaven ” “ Enroll with us for Healthy and Wealth life ” “ Do u want to lose your weight, then contact us ” etc.


These companies win over confidence of the members (victims) and maintain their image as charitable and benevolent, by offering donations to charitable, social and service oriented institutions by attracting publications, photographs of VVIP’s donating cheques. Likewise, they boost their image in a corporate style and try to gain mileage.


A single company will launch many sister companies to fool public as if to show that they are big group of companies. A single company renamed many a time attracts people of different places, takes its chameleon stride through colorful gifts, brochures, under case of cheating. Likewise, all innovative methods are put action to successfully grow them well and make money for themselves causing irreparable financial loss to the general public and society.


These companies results in exploitation of personal influence of each and every distributor or his close relative. If a Superior officer or his ward involved in MLM, the subordinates are forced to become members in the chain. Likewise if a close friend comes with a scheme, one finds it difficult to say “No” and if all the above get cheated also but they refrain from complaining to Police only to save their relationship/friendship.
BEWARE…!
If your close relative, friend, neighbor or your superior or colleague approaches you with a product / service which involves enrollment and further enrollment of members and meetings at high profile places / kitty parties then it is nothing but Money Circulation Scheme banned under the provisions of Prize Chits and Money Circulation Schemes (Banning) Act 1978.
The appeal to the public to not to enroll themselves into Multi Level Marketing Companies, Money Circulation Schemes, Network Marketing Companies and other such companies and such schemes and get cheated.
MLM schemes destroy the well knitted social fabric of our Indian society and make your house as well as your neighborhood a market.
It is an appeal seeking your co-operation with the Investigating Agencies to curb such menace and nip it in the bud before it engulfs the gullible Public.

jitu moni

5 years ago

http://pib.nic.in/newsite/PrintRelease.a...

Press Information Bureau
Government of India
Ministry of Corporate Affairs
30-April-2013 17:52 IST

Curb on Fraudulent Mlm Companies

Multi Level Marketing (MLM) Schemes involving enrollment of a vertical chain of investors/agents constitute “Money Circulation” and are banned under the Prize Chits & Money Circulation (Schemes)Banning Act, 1978 which is implemented by the States. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that in order to facilitate effective control of MLM, a Group of Officers from Ministries of Finance, Corporate Affairs & Consumer Affairs along with representatives of Reserve Bank of India, Central Economic Intelligence Bureau (CEIB) and the Serious Fraud Investigation Office (SFIO) have prepared Model Rules called Money Circulation Scheme (Banning) Rules, to explicitly cover MLM under the said Act. Ministry of Finance (Department of Financial Services) has sent the rules for notification to the States.

jitu moni

5 years ago

http://www.moneylife.in/article/qnet-eow...

QNet: EOW seizes documents from Vanmala's 'hidden' office

Moneylife Digital Team | 12/04/2014 06:13 PM |

After being named as accused in the Rs425 crore QNet scam, Vanmala shifted its office to undisclosed location. However, the EOW raided this secret hideout and seized important documents about the MLM operations of QNet

Economic Offences Wing (EOW) of Mumbai Police has raided a little known or 'hidden' office of Vanamala Hotels, Travels & Tourism Services Pvt Ltd, an associate of QNet India. The EOW has seized documents and computers used by Vanmala related with its vacation holiday packages sold to customers of QNet in India, say sources.

Vanamala had its office at Trade Centre in Bandra Kurla Complex (BKC). However, the tourism services provider shifted its office to an unknown location when it was named as an accused in the first information report in the Rs425 crore QNet multi-level marketing (MLM) scam.

Vanmala shifted its office to Lower Parel from BKC. However it kept the new address hidden even from its submissions in the court. Daryl Patrick Bisset, the chief executive of Vanmala has been found avoiding EOW and not forthcoming since past few months, the sources added.

During the investigation into the QNet scam, it was revealed that majority of the victims across the country were sold the "Holiday & Vacation Packages" from Vanmala.

In February 2014, the Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, registered a case in the Rs425 crore QNet scam for money laundering.

The ED has named 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'.

gurupreet

5 years ago

Vanamala/QNET runs away from Mumbai...

This is the message that was posted on http://www.vanamala-india.com recently...

Dear Members,

Due to service disruptions on our current hotlines, please refer to the following number should you have any queries: 0008006001144 or email us at [email protected]

We apologize for any inconvenience.

Is it a 'Simple" Disruption or there is more then meets the eye..The truth is their offices were raided by the EOW..effectively shutting down the whole operations of Vanamala in Mumbai.

The last time this message was posted after Vanamala's Payment gateways were blocked..

Important Announcement regarding Payment Gateway - INR Payments
Dear members,

We are experiencing problems with our Payment Gateway system. As such, please refrain from using it with immediate effect.

To know the alternate modes of payment you can use, please contact our Customer Experience Ambassadors at
+91-22-6139-9500 and they will assist you accordingly. Thank you.

The above mentioned PRI Line number +91-22-6139-9500 has also become un-operational

How good these white collared criminals are at sugar coating the real truth...Raids become "disruptions"...blocking becomes "problems"...shame on you all white collared criminals, you all should be tried for treason for your anti national activities.

gurupreet

5 years ago

Cheap Pathman said in his video message to India.."We shook hands with the right people in India"

Wouldn't it be FUN exposing these "Right People" ;)

hehe

jitu moni

5 years ago

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

Police opposes former billiards champion Ferreira's bail plea
Press Trust of India | Mumbai
April 8, 2014 Last Updated at 20:14 IST


The Mumbai police's Economic Offences Wing (EOW) today objected to an anticipatory pre-arrest bail plea filed by former world billiards champion Michael Ferreira in connection with the Rs 425-crore QNet case.

On January 22 the court had directed Ferreira to appear before the investigation agency, which he had complied with and was grilled for four days by EOW sleuths.

"We filed our reply in the case and objected to his pre-arrest bail application," special public prosecutor Pradeep Gharat told PTI.

The court was told that Ferreira was associated with Qnet even after knowing that it was a scam, he said.

"We also told the court that Ferreira made crores of rupees from the scam," Gharat said.

So far, the EOW has arrested nine QNet team leaders for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices.

QNet has also been accused of using the banned binary pyramid business model for multi-level marketing (MLM) schemes to entice investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

jitu moni

5 years ago

http://www.hurriyetdailynews.com/default...

ECONOMY er-national
Ponzi scheme victimizes thousands in Turkey

ISTANBUL - Daily News with wires | 5/28/2010 12:00:00 AM |

The Turkey branch of an international Ponzi scheme that collected millions of dollars from thousands of people has collapsed after police raids against the company.

The Turkey branch of an international Ponzi scheme that collected millions of dollars from thousands of people has collapsed after police raids against the company.

Quest.net, which defines itself as an “international direct selling brand that utilizes network marketing combined with e-commerce,” victimized nearly 20,000 people in Turkey, according to government officials. The company, which is headquartered in Hong Kong, has been banned in many countries.

The scheme operates like an investment chain. People begin to invest an amount of money to be a part of the chain and then find new people to invest. The invested money is distributed between members while a big chunk of it flows up to the top of the pyramid.

The Quest.net system, which recruits members with the promise of becoming rich, has been banned in many countries including the United States, Iran, Albania, Sri Lanka, Malaysia, Indonesia and Afghanistan.

The Turkish Ministry of Industry and Trade has launched an extensive study on the issue, and nearly 60 members of the system have been taken into custody.

[HH] No official representation

The company does not have an office in Turkey. Nevertheless, it recruits members in home offices located in Istanbul districts, such as Bahçelievler, Kadıköy, Esenler, Zeytinburnu and Güngören.

The Ministry of Industry and Trade has filed a criminal complaint, alleging aggravated fraud, against Quest.net executives. The company has victimized nearly 20,000 people, taking millions of liras from them, said Minister Nihat Ergün, speaking to Anatolia news agency on Thursday. “The company has collected a great amount of money, varying between $570 and $2,500 from those people. Nearly more than 20 million liras have been raised,” Ergün said.

Turkey met with the Ponzi scheme in September 1997 with the “Titan” company. Hakan Kenan Şeranoğlu, who was previously a hairdresser in Germany, and his friend Vahit Gülal had established the scheme in Turkey’s western city of İzmir, collecting a total of 8.6 million liras from nearly 30,000 people. The founders and top executives of the system faced lengthy prison terms in 1998.

jitu moni

5 years ago

http://abhisays.com/ideas-and-thoughts/b...
Beware of Chain Marketing

Recently I have been approached by some of my close friends to join some chain marketing company. Normally, chain marketing companies works on the principle of Pyramid Scheme. A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme. Pyramid schemes are illegal in many countries, including the United States, Great Britain, France, Canada, Malaysia, Norway, Australia, New Zealand, Nepal, Sri Lanka and Iran. Normally, 99.99% of the people lost their money in any MLM or pyramid scheme.

First see the dictionary of Chain Marketing ::

According to the dictionary of Chain Marketing members world is divided into two types of people, one is Prospect and other one chain marketing members.(CMM)

C.A.P. stands for Contacts, Appointments and Presentations. This will serve as “tracker” when they start in the business and treat each day as a business day. They keep with them, a list of all the names that they will call or contact, all the schedules appointments for the day and planned business presentations held during the day. For weekend, they have some special plans, that is called weekend plan.

Inviting is the first and one of the most important skills you will need to master in order to be successful in this business. Master the art if inviting with this following techniques
a) curiosity is the key to inviting, create one and not satisfy it. (DO)
b) It’s a major no-no to present the business over the phone. (DON’T)
c) The members always review the names in their memory builder. (DO)
d) When contacting the prospects, they behave as if they are not soliciting but offering an opportunity to discover a business idea that could literally change the life of the prospect. (DO)

Presenting
The information packet of chain Marketing Members normally contain
a) Company Profile and then MLM AND RM.
b) Business Model
c) Company brochures.
d) Teamwork all over INDIA (how they are working)
e) Fake Cheques.

Follow Up:
Most people are not ready to commit instantly or just after one meeting. Actually it is difficult to make some people fool easily . So follow-up comes next. At this time, all the chain marketing members talk with that person and go over with any questions that he might have. In this follow up, the members act like Hollywood actors and show that they are very happy, making so much money etc.

What these chain marketing members do to make their friends fool ::

They never explain the business to anybody by them self before going through the training session and getting sufficient experience. Normally in 2-3 months, they get full experience in cheating persons so after loaded with all the guns they target their innocent friends.
Normally they do not approach their friend and tell him everything about chain marketing. They only tell that they are into an business and earning. They try to make their friend curious about what business they are into. What business, no clue. They show their friend as if they are earning a lot and happy with how the business is going. Then when the innocent person insists a lot, then they will tell him to come and discuss the business. Remember, they never tell anything like its networking or chain marketing. Just they use the word BUSINESS. That is it. Their aim is to get the presentation done. The presentation is actually a mind was session.
They will show full confidence on the system and the team work is excellent. But normally it will be all fake, you would know all these things after becoming member of the chain marketing.
When the friend insists on telling what business they are doing, they ask him to meet them and discuss the business along with their business associates. They will never use the word presentation. These day, these cheaters are using the word “meeting” for this.
When friend might ask you that is it networking. They Say NO. They tell him its not network marketing and they are not selling toothpaste, gold coin and all. They are doing a business and not salesman job. They tell him that if he is interested then come for a meeting. They show as if they are least bothered if he does not turn up. But you know all these things when you will become members. Normally they spend many days and nights for a single person and try to act that they don’t care.
When after all frauds and lies friend becomes ready to come for a meeting, they tell him that the guy with whom he would be meeting a guy who is master of the business. He has earned this this amount (all false data, full of lies, they never give the correct data). The chain marketing members call this method of attracting the attention of the friend as “Edification”
After the presentation Follow up takes place. It is the most important thing in the business of making people fool. As soon as the presentation is done, the chain marketing members ask their friend “CHALE LOGIN KARNE”. If the innocent friend says I would think, would ask mummy, would ask friends, etc., then these chain marketing members try everything to get those things out of his mind.

What these people will tell when the friend will talk about money problem ::

• Money problem : Arrange 5-6k and then take 2-3 from your friends. Or else shop from friends credit card and then apply for a loan and give back. I also did the same. What u think, did I had 8k with me when I joined. I also had the same case but I managed.
• A and B problem : Everyone is so helpful and we would definitely get our common friends under you. If you wont grow, do u think I would grow. So I would have to help u. I have no other option. Rest you’re my friend, do you think I would have contacted you just for your 30k. You have such a good friend circle and I want that all of them should come under you only.
• Would ask my parents, brothers, sisters, friends : Don’t tell about the business to anyone. You would just misguide them. What u would tell. You got the clear picture in 1.5 hrs and what u think u can tell your friends and relatives in 15 or maximum ½ hr. Its just not possible. Its better you don’t ask them. I can tell their response , i.e a BIG NO. Network marketing has got a very negative image because of Amway and all…ml concepts.
• I would tell them nicely that its not ml and very good business model : What u will tell. Then tell him the flaws. Your relatives and friends would ask for cheques and all. I have got a personal experience.
• I would think and tell You in two days. If you would think in that sense u can never succeed in any business. If u want to open a restaurant, u first hire cooks and all. You don’t go out for customers first and then cook the food. Anyways, it is your personal wish, if u would contact anyone u would spoil your own business. I would advice you to start with the business right now and have your do’s and don’ts session and start with the business. If you still want to think, you can but don’t discuss or try to take advice from anyone because you would get a negative reply only. That is my personal experience.

Once again I would like to reiterate

Chain Marketing or MLM is not good way to earn money. Please stay away from it. It will ruin you, your friends and your country. Don’t become a victim. Protect other innocent people from chain marketing. Please don’t ruin your family and friends. Don’t even attend the chain marketing presentations and seminars.

Therefor I request all Indians not to join chain marketing, MLM or chain marketing are draining foreign exchange from our country without doing any development and invest. IT Professionals are soft targets so Beware !!!

Remember Wealth is only gained through honest and hard work, so LIVE WITH IT !

jitu moni

5 years ago

http://www.todayszaman.com/news-240912-m...
Ministry to investigate QNet in Turkey

13 April 2011, Wednesday /ERGİN HAVA
The Industry and Trade Ministry has initiated an investigation into the Turkey operations of QNet, an allegedly fraudulent money-earning scheme, following recent reports of the company victimizing people, the ministry told Today’s Zaman in a written statement on Tuesday.

Today’s Zaman on Monday reported on the allegedly illegal operations of QNet in Turkey following complaints it had received from its readers, who said the system victimized thousands by running a pyramid scheme despite warnings from the government. Sources said QuestNet -- recently rebranded as QNET -- the flagship international direct selling subsidiary of the Hong Kong-based QI Group of Companies, has continued operations in the country.

The ministry statement said the government is ready to take the necessary steps if it finds the company operations to be against the law. The ministry reiterated its call to citizens to read the ministry announcements on their websites before they became involved in such system. “As is known to the public, our ministry commenced an investigation into QuestNet in 2010. Following these investigations we found that this company violated the law … and we have also warned citizens to beware of similar fraudulent activities of this kind in Turkey,” the statement read. The ministry also revealed that the company was fined TL 3.64 million for its illegal activities last year. The ministry statement that Today’s Zaman has received reads in brief that such pyramid schemes do not require permission from any ministry, “however, the fact that such operations are carried out under the umbrella organization of a limited company does not necessarily mean that they cannot be fraudulent.” The ministry adds that normally it is not within their purview to allow companies to operate or not in the country. “The allegations are serious that the same QuestNet, which was proven to be guilty of victimizing people last year, continues operations under the name of QNet in Turkey. Representatives from QNet had earlier informed us that they had no connection to QuestNet and that customers who did not sign a contract with QNet cannot [make any claims] on the company,” the statement continued.

jitu moni

5 years ago

http://www.arabnews.com/saudi-arabia/%E2...

‘Suspicious’ Qnet banned

JEDDAH: Saudi Arabia has banned Qnet, a network marketing company, and said it would punish those involved in the suspicious business venture. “This network marketing activity involves deception of citizens and has been banned in a number of countries,” the Ministry of Commerce and Industry said.
The ministry urged Saudis and expatriates not to take part in the activities of such network marketing companies. It also advised the public to inform the ministry about individuals promoting such business by calling the toll-free number 8001241616.
“This business activity has not been registered with the ministry. Moreover, there have been official instructions in the past banning activities that involve deception and stealing others’ money through falsification,” it explained.
The ministry stressed that it would take all measures to stop this form of business activity in the Kingdom with the support of relevant agencies.
Qnet has introduced itself as the world’s largest and fastest-growing online shopping and business community. “Ever since 1998, we’ve been home to a new breed of healthy, happy and successful people of all ages, races, gender and socioeconomic status,” it said.
As an established, dynamic direct selling company, we provide the framework and tools that allow our members to actively raise their quality of life through value-added lifestyle products and through our network marketing business opportunity and attractive Compensation Plan, its website said.

jitu moni

5 years ago

stopqnet.livejournal.com

How to punish the creators of the pyramids? (QNet, get ready!)

Mar. 31st, 2014 at 5:10 AM

Not so long ago we listed seven common traits in the largest pyramid planet and QNet , and today there was another news about the structure of Isis: http://lenta.ru/news/2014/03/25/madoff/

The article is called "Five Madoff aides were convicted of fraud." The founder of the largest pyramid has long been sentenced to 150 years in prison, but it is obvious that he cheated people not alone. Investigators failed to prove the guilt of another five participants fraud. Below is the text of the article:

"The jury recognized five assistants creator Bernard Madoff Ponzi scheme guilty of fraud, Reuters reported on Monday, March 24. The jury found all five defendants guilty on all counts.

Case former aides Madoff court in New York saw more than five months. The defendants in the case were: former COO of Madoff Investment Securities LLC Bonvantr Daniel (Daniel Bonventre), traders Annette Bongiorno (Annette Bongiorno) and Joann Crupi (Joann Crupi) and programmers Jerome O'Hara (Jerome O'Hara) and George Perez ( George Perez).

Each of the assistants Madoff was accused of eight to twenty episodes. Sentencing is scheduled for mid-July 2014. The defendants face imprisonment and heavy fines.

Former chairman of Nasdaq stock exchange, Madoff was arrested in 2008, after it became clear that his foundation Madoff Securities is a pyramid scheme. In 2009, Madoff pleaded guilty to 11 counts of charges against him, including money laundering, perjury and fraud, and was sentenced to 150 years in prison. "

Pyramid QNet is much less than the pyramid Madoff, but has long been an eyesore Procurator many countries in the world . Once law enforcement agencies receive sufficient grounds to stop the activity and the pyramid too.

How many people are affected by QNet in Russia? It can be estimated from a recent press release b2blogger.com/pressroom/178266.html - it says that in Russia QNet took about 13 thousand people. Since in most cases known to us, they gave $ 2000 for the entry, you can evaluate the company's turnover in Russia is about $ 26 million (count how many of them you can earn ).

Let's count: 13,000 people in QNet - it's about 11-12 levels of the pyramid. Let's calculate their income:
- Lower level (about 6,500 people) gave $ 2,000 (net loss of $ 2,000)
- The next level (about 3,250 people) gave $ 2,000, but got back $ 250 (net loss of $ 1,750)
- The next level (about 1625 people) gave $ 2000, but got back $ 750 (net loss of $ 1,250)
- The next level (about 800 people) gave $ 2,000 but received $ 1,750 (net loss of $ 250).
A lot or a little? It would seem to lose $ 250 - not such a tragedy. But understand that if your personal loss of $ 250, the total loss of those you have invited is already 2 * $ 1250 + 4 * $ 1750 + 8 * $ 2000 = $ 25500 (25 and a half thousand dollars in damages your friends and family!).

This means that 6500 = 800 3250 1625 12 175 people were in the red. Not to mention more about mandatory spending on office rent (usually $ 200 per year) for annual payments for the bronze card (when they bought it, they were never told that it will be necessary to pay annually for about $ 100) and so on. Worse, these 12,175 people not only lost money, but also pulled their loved ones in the pyramid, so once they become ashamed because of this. So many friends lose forever.

Of course, QNet well earned and continues to earn many of these people. But if you realize that out of 13,000 joined the QNet in Russia more than 12 thousand people remained in the red, it is difficult to call it a business for students. This is a business for Chinese schemers who are using QNet pull money from many countries.

It is extremely important to understand that most of the participants are in the red QNet not because bad "work", but because of the principles of the apparatus of this pyramid (because of these principles Direct Selling Association classifies QNet to Russia disguised pyramids ). In the pyramids, the majority is always in the red, because the money from the air do not appear.

Warn your loved ones about this threat! Press the following buttons or talk to them on the phone or alive!

gurupreet

5 years ago

The more the FIR the better, but in my fight even i have had experiences :)

There are people who wanna file FIR "For Money" and then there are some like us who filed FIR "To Eradicate this SCAM"

There are people who joined QNET for MONEY and then trying to get into the fight for the MONEY again...Oh Common cant i single out such people?

Is int it not the reason GOD chose me to fight this out..some one whose spending money and time from his own pocket to stop this SCAM...

Off course there are OTHERS who did not have to courage to file FIR in the beginning...and now on instance of some Lawyers want to make hay as the sun shines :)

BTW all the documents you been calling me for are available online..you did not bother to check...and yes i did not give it to you because "We don't not TRUST you" :)

Regards
Guru

vinodh

5 years ago

Do not believe this guy Gurupreet.
he wont help any one. just he need money that he lost. i have experene with him, if you want your money back please go to the police Station and file FIR.

Dont believe any one

Go and file FIR
Regards,
Vinodh

gurupreet

5 years ago

EOW RAIDS QNET SYSTEM MEETING IN MUMBAY BEING CONDUCTED BY "MR.BIJOY MATEHWS"..TEAM LEADER OF QNET.

This Morning QNET team Leaders had organised a Seminar/System at the following address and invited innocent people to induce them into this illegal money circulation scheme..the system was held at the following address:

Youthapreneurs Training Center, 605, Alpana Bldg, Opp Sarvoday Hospital, LBS Marg, Ghatkopar (W), Mumbai - 86

During the raid Mr.Bijoy Mathews was caught red handed promoting the illegal money circulation scheme in presence of 45 Odd people.

Ironically this Mr.Bijoy Mathews is the same person who has had cooled his heels in the jail for more then 20 days in the past for the same offence.

The officers of EOW detained and questioned several people and names and contact details of 47 people were noted down :)

I am sure the records of the activity today will lead to the cancellation of the bail of several team leaders of QNET.

Let me mention here that a similar activity was done by the EOW several months back when QNET leaders were holding a system meeting in Dadar, Mumbai and details were noted down. These details led to the arrest of Nine qnet leaders earlier.

So guys any guess who all will be arrested now after today's raid/activity?

Best guesses will win prizes ;)

Keep posting/replying...

Regards
Gurupreet

P.S Tomorrow is the Hindi New Year so my msg to QNET "Happy New Year" in advance...

After the ABA of your people are cancelled we will get the bails also cancelled wait and see...

jitu moni

5 years ago

http://english.ahram.org.eg/NewsContent/...
QNet: Not all pyramids make money for Egypt
Ahram Online explores controversial 'direct-selling' scheme that has become increasingly popular among Egypt's would-be entrepreneurs
Ahmed Feteha, Thursday 5 Jan 2012
"There is not such thing as easy money" this is one lesson some Qnet IRs learn the hard way.

"Let's face it – by the time you have financial security in your nine-to-five job, you'll be too old to enjoy the benefits."

It's with these simple words that a friend or family member might lead you to reflect on all they have achieved in their career, and then compare their success with your own more limited accomplishments.

They will, however, be quick to lift your spirits with the promise of a “business proposition” that will pull you out of your current “vicious circle.” And what is that business proposition? To join a network marketing scheme run by a company called QNet.

The idea is simple: buy a product from QNet through one of the company’s independent representatives (IRs) for around LE4000 ($666) and, upon purchasing, automatically become a company salesperson. You earn a commission if you’re able to market the company's products to other buyers, who also in turn become IRs.

There is a complex “tree” system in place that allows you to earn a commission whenever any of your recruits – or the recruits they have made – make a sale or enlist additional salespeople.

On the surface, it seems like an easy, guaranteed method of generating extra income – one that has become very popular in Egypt over the past two years.

But QNet has also been the subject of considerable controversy. Just last week, Egypt's head religious authority decreed that network marketing schemes like QNet are haram – proscribed by Islam – as they can be harmful to the economy.

Some former QNet IRs agree with this assessment.

"When you’re given the presentation by the IRs, you’re brainwashed into thinking it’s a guaranteed way to make money,” says Motaz Farrag, an ex-Qnet IR who now runs a Facebook group campaigning against network marketing. “But in practice, the chances of failure are much higher than the chances of success."

IRs receive training on how to give presentations about QNet "businesses.” The more experienced IRs coach newcomers in selling techniques, providing detailed answers to frequently asked questions.

"Those who joined the scheme earlier are the ones who make all the money because they get a commission on all subsequent recruits," Farrag explains.

To many, QNet's network-marketing system sounds a lot like a classic pyramid scheme – a charge the company vehemently denies.

"As QNet becomes increasingly popular, it becomes harder to recruit new participants," Farrag points out. “New members end up not being able to extend their network, but those at the top of the ‘tree’ make money anyway.”

He believes that the market will eventually be saturated as the number of participants outstrips population growth.

QNet has already been the target of official legal action in many countries.

In Sri Lanka, for example, the central bank enacted an Anti-Pyramid Act in 2005 that outlawed multilevel marketing schemes and employed existing bank regulations to stop pyramid scheme transactions in the nation’s banks.

“Direct selling,” the business model used by QNet, was banned in China in 1998 after becoming popular in the 1990s. "The sudden ban showed how concerned the government was about these independent distributor networks, with their door-to-door sales and motivational meetings," the Associated Press reported at the time.

In 2011, Turkey's Trade and Industry Ministry began an investigation into QNet’s Turkish branch, following reports of the company “victimising” employees. Other countries have seen QNet operations suspended due to licensing and tax issues.

The company, however, says its operations are comparable to multilevel marketing schemes that are legal in many countries. IRs often explain that the number of potential participants will never run out because older IRs can reinvest in their “trees.”

The company is also a member of the Direct Selling Association based in Malaysia.

Robert L. Fitzpatrick, a well known campaigner against pyramid schemes, explains that recruitment-based pyramid sales schemes are often camouflaged as “direct selling” companies, allowing them to multiply and gain access to more and more countries.

In general, the QNet scheme is marketed to potential recruits as an opportunity for those who want to start their own business without making a large investment or taking on overheads.

But critics say that, since the scheme always requires fresh recruits, and not only selling a product per se, QNet is – in practice – no different from a pyramid scheme.

QNet was in the media spotlight last week when Egypt's Dar Al-Ifta, the country's highest official religious authority, issued a decree or fatwa ruling the company’s activities haram.

Dar Al-Ifta justified the ruling by claiming that network marketing had a deleterious effect on the national economy. Network marketing “destabilises markets and ruins the concept of work. It also lacks proper legal and financial supervision," Dar Al-Ifta stated.

The negative economic effects of the scheme include an outflow of money from cash-strapped Egypt, a country where attracting foreign investments remains at the top of the economic agenda.

Blogger Sherwette Mansour explains that, if 60,466,176 people joined the scheme, total funds leaving the country in terms of joining fees would reach $60.5 billion (60 million recruits multiplied by an average joining fee of $1,000).

Members up to the level before last, meanwhile, will generate profits in the form of commissions. According to the scheme, IRs receive $250 for every six new salespeople they recruit, so total profits earned by IRs would amount to $2.5 billion, translating into a mere 4.2 per cent of the total amount invested.

Accordingly, QNet schemes provide little benefit for the country in question, as only a fraction of “business” returns are redirected into the local economy.

Nevertheless, QNet enjoys an established presence in several countries. It has offices in nine countries: including the United Arab Emirates, Thailand, Tajikistan, Taiwan, Singapore, Philippines, Indonesia, Azerbaijan and Hong Kong. According to its website, it has a franchise company in Turkey and has agents in Armenia, Jordan and three African countries.

Detailed information about the company, however, is not available. This includes the company's consolidated financial statements and the number of its employees and IRs.

Mansour, however, challenges the assumption that such huge numbers would enter the scheme in Egypt, since "this number of people entering the business is almost impossible because a small percentage of Egyptians can actually afford to pay the $1,000 needed to join."

The ruling by Dar Al-Ifta echoes criticisms made about QNet by many others, including former participants.

"The product in the scheme is irrelevant, so you end up buying something that is very overpriced just to join QNet,” says Ahmed Fouad, a 26-year-old engineer who participated in the scheme for just two weeks before quitting. “There’s no real value-added."

The products that must be purchased to join QNet range from watches to energy pendants, diet products, jewellery and overseas holidays. "You pay a ridiculously large sum of money for a watch that you can get much cheaper elsewhere and it's not even a well-known brand," Fouad says.

Recently, QNet began arranging "training" trips, in which groups of new recruits go on hotel retreats and are coached on selling techniques by more experienced members. But accounts by attendees of such retreats suggest the events have hardly been a resounding success.

"They took us to a gated residential compound and we had to do morning drills in which we stood in line for four hours with the trainers yelling at us," former QNet IR Ahmed Hassan says.

"They banned us from smoking, took our cell phones and woke us up at 5am. It seemed more like a military camp than a selling-skills course," the 25-year-old marketing graduate recalls bitterly. "After that I decided it was all too fishy for me."

Not all experiences have been negative, however, and some QNet participants have expressed satisfaction with their involvement in the scheme.

Recent college graduate Mohamed Saafan, for example, joined QNet more than one year ago after failing to find a steady job. "I’m fully dedicated to the business, which has gone well so far," Saafan explains. "It certainly beats just staying at home."

According to the 24-year-old aviation engineer, those who don't succeed at QNet simply haven’t put in enough effort. "People expect money to start flowing in as soon as they join – that's why many become disappointed quickly," he says.

QNet was established in 1998 with regional offices in Hong Kong and Malaysia, as well as offices in Singapore, the Philippines, Thailand and the UAE.

On its official website, the company describes itself as “a dynamic wellness and lifestyle company… to enrich the lives of its customers worldwide.”

jitu moni

5 years ago

http://english.al-akhbar.com/content/qne...
QNet in Beirut: A Pyramid of Cards?
By: Leah Caldwell
Published Sunday, January 29, 2012
Sitting in a Hamra coffee shop one evening, Bilal Ftouni chugs an American coffee as he tells me about his upcoming trip to Thailand that he purchased through a company called QNet. For US$600 – airfare not included – he gets a three-night stay for two people at a posh beach resort owned by QI Ltd., which is QNet’s parent company.

Bilal is an ambitious 23-year-old studying business marketing at the Lebanese International University. He’s excited to go to Thailand, but he was more excited about the opportunities that stemmed from his purchase. Once Bilal bought the Thai resort package from QNet, he was qualified to become an “independent representative,” or salesperson, for the company. “It’s a win-win philosophy,” he said. “You’re buying something nice and at the same time you’re starting a business with the company.”

QNet has been described alternately as a scam, a pyramid scheme, and a costly fraud, but despite its soiled reputation, it has found hundreds of followers in Beirut since it came here over a year ago. Founded in 1998, the Hong Kong-based company denies pyramid scheme accusations and describes itself as a legitimate multilevel marketing company that specializes in distributing energy and luxury products. In February, they will reportedly open their first Lebanese office in Beirut’s City Center Mall in Dawra. (QNet did not respond to inquiries in time for publication.)

Bilal explained that with every QNet product you buy – most of which cost a few hundred dollars – you open an “office.” This is not a physical office, but rather, a spot at the top of a chain (or pyramid, depending on your perspective) of sellers that you will recruit over time. You earn commission on their recruitment and in turn, on your recruitments’ recruitments, and so on. Over two months, Bilal was able to earn back his initial investment of US$600 and repay his younger brother the US$250 he initially borrowed from him. Bilal now has about 50 people in his network.

QNet’s business model will sound familiar to anyone who lived through the rise of multilevel marketing companies like Amway and Herbalife. At these companies, profits amassed at the highest levels of sales pyramids, but the legions of lower-level distributors were often left penniless and with a cache of obsolete and impossible-to-sell products. Unlike traditional salespeople that make commission on product sales, at QNet, the people are the products.

As pyramid schemes were outlawed in many Western countries, multilevel marketing companies set their sights on the “emerging” economies of Africa, Southeast Asia, and the Middle East, taking advantage of high rates of unemployment and lax government oversight. Yet since 2008, QNet and its subsidiaries have been subject to government or local authority investigations in India, Rwanda, and Afghanistan that allege fraud or tax complications.

QNet has fared slightly better in the Middle East. The company has a growing presence in the Gulf and Egypt, even sponsoring a recent Amr Diab concert, where the pop star sported one of the company’s “Chi pendants” around his neck. Despite this popularity, there have been criticisms of the company, with the Egyptian daily Al-Ahram reporting that the country’s Dar al-Ifta issued a fatwa in 2011 declaring QNet haram, or forbidden.

QNet’s Beirut-based followers speak optimistically of a coming boom for the company in Lebanon. Yet the company’s fate will largely hinge on whether Lebanon’s youth will be drawn in by promises of fast cash and the good life. So far, these promises – as well as QNet’s cultish life philosophy – have attracted a growing base of foot soldiers in Beirut.

Selling Dreams and “Hydratious” Water

QNet’s Beirut salespeople – or what the company calls “independent representatives” or IRs – are mostly driven young males and females eager to gain experience in business and make money. These roving groups of IRs can be seen in Hamra coffee shops practicing their sales pitches on each other and recruiting new members.

Opposing groups of QNet IRs in Beirut have carefully divided up turf amongst each other so as not to infringe on each others’ sales territory. Mehyo Farchoukh, a 24-year-old QNet IR, has staked out the Dunkin’ Donuts in Hamra, while Bilal and his group hang out at Brisk and Second Cup. Mehyo said that he and Bilal belong to separate sales chains, so “the people I get he doesn’t benefit from and the people he gets, I don’t benefit. You can say we’re like fisherman that are fishing in the same lake.”

Mehyo quit his job as a bar manager three months ago to work full-time for QNet. When I met him at Dunkin’ Donuts one night, he had already made two presentations, but with no luck. He remained hopeful that his third prospect – me – would sign on. “All we need is three sheets of paper, a pen, and a coffee place with Internet to show our plan to the people,” he said.

The “plan” is something that must be presented gradually and with care. For QNet members, they’re not selling products – they’re selling dreams.

If you’re approached by a QNet IR, you might be asked to write down your dreams and how much money it would take to realize them. QNet and other sales companies call this method of personalizing a sale prospecting. According to a prospecting guide written by QNet member Akhtar Qureshi of Saudi Arabia, “During prospecting we bring the person out of the COMFORT ZONE he/she has been living within! If the person cannot sleep well that night because of the disturbance created by our prospecting, [then] we are successful!” (Caps and Italics original.)

QNet IRs stress that they are helping people break free from the monotony of the corporate grind. They promise that you can be your own boss and have boundless opportunities to make money. But you’re also making a statement of individuality by setting yourself apart from the “sheep” who mindlessly work their dull jobs with no hopes and dreams of their own.

“The sheep will look from their side of the fence, they will look out and see the lion as it leaps, as it springs through the air from rock to rock as it bounds through the plains. [They will] say that is crazy and deep down inside they will say, is it not nice to be crazy?” said QNet founder Vijay Eswaran in a podcast.

Without these lofty promises, QNet would not have much luck selling its overpriced and obsolete products.

Like the pyramid schemes of the past, QNet has its own line of glorified trinkets. The most hyped product line is the “Chi pendants” that cost up to US$580 a piece and claim to energize your body, as well as protect you from harmful cellphone waves. I expressed skepticism to Bilal about the “Amezcua Straw Tube” that claims to make water more “hydratious.” He said that since I had never tried it I couldn’t judge. I asked if he had tried it. No, he said; QNet doesn’t give free samples.

The V: The Upper Echelons of QNet’s Pyramid

Before QNet, Bilal had worked as a cashier at his father’s grocery store and at a mobile phone company, but felt unsatisfied with the nine to five routine. After visiting his older brothers in Australia, he returned to Lebanon feeling depressed, but turned down his friend’s initial attempts to get him to join QNet. Eventually, his friend’s persistence paid off and Bilal joined QNet.

“QNet isn’t just about money or about getting commission, it’s a lifestyle,” he said. When Bilal listed his dreams for QNet, he wrote that in his first year he’d like to buy an Audi and in his second year, he’d like to make US$2,000 in commission per week. His ultimate dream though, like many other IRs, is to reach “The V.”

To the general public, The V appears to be QNet’s development and training wing, with its speakers touring the globe, encouraging IRs to just “believe” in QNet. Yet to QNet insiders, The V is a group of elite sellers who receive US$15,000 a week in commission. They are at the top of the pyramid. Mohammad Zakaria of Bahrain is a V council leader in the Middle East and heads the “Unstoppable” group, which consists of almost all the sellers in the region. According to Bilal, “All the Middle East is under him.”

The V sellers are every one’s “upline,” meaning that somewhere in the history of your sales pyramid, a V seller gave birth to a chain of sellers that ultimately reached you. The vampiric nature of this is a bit off-putting. As Bilal’s QNet friends stream into the coffee shop for a meeting, he points them out one by one, “That’s Rana, she’s my downline and there’s Nimr, he’s my upline.”

The V’s namesake comes from the migratory shape of Canadian geese and is supposed to symbolize “teamwork.” Yet The V’s version of teamwork doesn’t mean that all the rewards are split equally. For The V to keep making money, the network must continue to grow against all odds.

“In the end, Oscar Schindler did not focus on what he had achieved and said, I’ve already saved over 1,000 Jews so I’ve done enough...And in this context, no achievement is ever enough,” wrote Pathman Senathirajah, managing director of The V.

The “visionary” leader behind QNet’s motivational philosophy is its founder Vijay Eswaran. He’s a plump Malaysian of Indian origins with highly-arched eyebrows and a salt-and-pepper goatee. QNet describes him as a man who “embraces truth and spirituality with a kind of passion that's unknown to many,” but his transformation into a visionary leader hasn’t been without hitches.

Eswaran oversaw the company’s name change from QuestNet to QNet after the company’s subsidiary GoldQuest was booted from Chennai, India in 2008. GoldQuest allegedly defrauded thousands in a pyramid scheme that marketed coins with images of the Hindu God Jagannath on them. Over 4,000 people filed complaints against the company. Once the scandal broke, Eswaran and other employees of QuestNet distanced themselves from the gold coin venture and said that a few corrupt individuals were to blame.

Eswaran is the primary source of the company’s unending litany of inspirational acronyms, like RYTHM [sic] (Raise Yourself to Help Mankind) and MAD (Making a Difference).

“This is our year. We have to grasp this year. We have to turn it around. We have to make the impossible happen simply because it can, simply because it must, and simply because no one else has done it before...this is our year. This can and must be our year,” he said in his 2012 New Year’s message on YouTube.

Like a fortune teller, his messages and writings are vague enough to mean anything to anyone. The QNet IRs that I spoke with didn’t know about Eswaran’s checkered past, but didn’t seem to mind. They say they believe in his message and are determined to succeed. But what if they don’t succeed? Then maybe they just didn’t believe hard enough.

jitu moni

5 years ago

http://m.thehindu.com/news/cities/Hydera...

CID arrests two directors of a company on money circulation charge
Mar 19, 2014 12:47 AM , By Special Correspondent


Crime Investigation Department (CID) officials on Tuesday arrested two directors of RMP Infotec Private Limited on charge of organising money circulation scheme in the guise of multi-level marketing of some products.

A laptop, hard disks and documents were seized from the company’s head office in Chennai and customer care centre in Hyderabad, the CID Additional DGP, T. Krishna Prasad, said. While Rajesh J. Chandhan and Dileep J. Chandhan were arrested, two other directors -Praveen J. Chandhan and Dhawal J. Chandhan- were absconding.

The quartet started the company headquartered at Chennai claiming that they were distributors for some products. They enrolled persons purchasing products from them as distributors and offered money as incentive.

They claimed that RMP meant “Resource Money Power” and lured people to enrol with the company offering weekly payments ranging from Rs. 1,000 to Rs. 1.3 lakh based on the number of members the buyers manage to get inducted in the company.

The company was indulging in money circulation scheme by luring the public, Mr. Prasad said. Eight cases were registered against the company following complaints from Guntur and Prakasam districts. The CID Additional DGP cautioned the public against trusting such companies.
Watch video
http://www.youtube.com/watch?v=D7h8ei2w8...

jitu moni

5 years ago

http://stopqnet.livejournal.com/
(Translated to English)
Kokshetau again in the top of the news : in the regional center intensified financial fraudsters QNet

Mar. 3rd, 2014 at 5:32 AM

Quote from the site yvision.kz/post/227992:

And if the recent TV story on one of the channels has excited domestic other Kazakhs kokshetautsev then he certainly was not surprised . About the company «Qnet», however , the name varies from «QuestNet» to «GoldQuest» depending on the host country , in many heard , and some , mostly young people , already drawn into the orbit of its activities. Paint scheme of work of the organization is not necessary , in order to once again not excite immature minds greed . In short , the meaning of "business" is reduced to the original entry fee , purchase the money supposedly elite goods companies are often very expensive (120 th ) and its subsequent spread among friends . However , a new entrant to receive the income may involve only after a few more people, ie there is the classic " pyramid " scheme .

Interestingly , a native «Qnet» from Hong Kong , where the head office of the company. It was from the organization and launched an offensive on the wallets of citizens around the world. Naturally , the farther she moved to the mainland , the faster remaining behind closed branches and discredit . In the English-speaking Internet segment of this pyramid written a lot , in particular its activities are prohibited in Afghanistan and Pakistan , and Turkey, and several African countries are serious litigation. Lack of information about «Qnet» and in the CIS countries . Convincingly against this background that looks material information agency " Azeri -Press" from Azerbaijan. More convincing to quote a small part of it :

"In Baku defused transnational organized gang appropriated under the guise of the company « Quest net » manat owned 20 thousand citizens .

Found that this criminal network , which operated in the capital and regions of Azerbaijan under the guise of the company «Quest net», engaged in that giving false promises citizens to arrange their work , attracted people , mostly young people , to sell jewelry. Selling gold items weighing up to 3 gr ten times more of their real value - for 800-1500 dollars, they have earned a lot of money .

Everyone who buys the goods had to be written behind two more , which , in turn , did the same thing that led to the expansion of the network . In addition, the most active participants called "leaders" and promote the right to independent activities as head of sales . In order to gain the trust of people and engage in criminal networks even greater number of people in the office "firm" conducted seminars and practical trainings . Money received from the citizens involved in criminal network built in a pyramid , walked on high salaries for management.

Remedial studies have shown that the central office of the company «Quest net» is located in an offshore zone of Hong Kong (China). Of 20,000 citizens only 5100 received jewelry, and the remaining naive victim and left with gifts and promises of employment.

It should be noted that the value of gold items from 5 to 95 dollars periodically delivered to Baku and there were citizens who were taken money in advance . A small part of the funds collected was converted into a bank in Hong Kong and was directed to purchase cheap gold in Germany. The greater part of the money was cashed and assigned . "

It's nice that in the fight against financial pyramids are not asleep and Kazakh people . The official websites of the Ministries of Justice , Labour and Social Protection taken several queries about the legality of work and registering a company in the country. Particularly curious looks the answer to one of these questions on the blog of the Agency for Combating Economic Crimes and Corruption :

"... Your appeal Company « Qnet » considered.
Explain that, according to the official website , the main activity of the company registered in Hong Kong, is spread through the Internet and consumer goods.

Along with this, if the said company operates on the principle of financial pyramids ( raising funds from investors in a project , with a current yield lower rates to attract investment, and payment of deposits from investors not revenue (profit ) of the project , but from the new investors ) , a natural result of this situation is the bankruptcy and loss of recent investors.

In case of damage resulting from the company, you should contact the bodies of internal affairs or financial police in the community . "

As it became known , the other day in the regional center has already begun verification activities of the city prosecutor's office.

On the same resource is the development of this theme - http://yvision.kz/post/228384
Thence following text :

financial sect

Otherwise they will not name . Cleared up in his native homeland fraudulent pyramid is very similar to the destructive religious cults .

If you happen to see the followers of both , the fun " spot the difference " will not have to play . Burning eyes , relentless self-righteous certitude , the thirst to win over as many followers ... This is just a partial list of matches . But if the object of worship pseudo- doctrines serve different but very specific subjects , the financial pyramids pray unique deity - money.

It is gratifying , of course, that the fight against destructive sects today thrown considerable resources , until the adoption of a special law , the establishment of competent government agencies and community centers . Sadly only that the situation with the financial pyramids citizens are often left alone with their problems , although the spiritual and material harm to the population of scammers applied no less.

Today Kokshetau been active for at least three of these pyramids : «Qnet», «Emgoldex» and returned from oblivion "MMM" . And they work to keep pace with technological progress , rebase activities , including advertising , on the Internet . Who is the most uncontrolled space. In social networks, "My World" , "Vkontakte" and instant messaging services " [email protected] », «Skype» followers of these groups have launched a wide-ranging appeal.

An example of such advertising has led me to a friend, who tried to lure the pyramid through the "agent" girlfriend :

" Dean Kudibeeva ( 20.01.2012 10:29) :

- By the way, you did not hear about «Qnet»?

Ajgul Kaysina ( 20.01.2012 10:30 )

- What is it?

Dean Kudibeeva ( 20.01.2012 10:35) :

- Network business , and very real. In short , there you go into business and sign two more people and get the money . This is all summarized . If you want, you can go to her sister , she will tell all the details. You just have to listen well ...

Ajgul Kaysina ( 20.01.2012 10:59) :

- And you are certainly got ? .. "

In this dialog ( the names of heroes correspondence changed) until interrupted . Incidentally, the rare occasions when you will write strangers . The work is based on the effect of trust , so that you invite to the meeting will likely neighbors, friends or relatives . At their meeting , you are sure to fall under the charm, undergo hypnosis or neuro-linguistic programming, call it what you want. Zombie on greed can not resist it.

Warn your loved ones about this issue , so they are not lost in vain good relationships with friends and family , time and money !

jitu moni

5 years ago

http://stopqnet.livejournal.com/
(Translated to English)
Which country is focused QNet? As it migrates across the planet ?

Mar. 11th, 2014 at 5:50 AM

Let's make a list of countries in which the most popular QNet . This is interesting data , as they reflect on who is really focused this pyramid . For the analysis we use the data service traditionally http://www.alexa.com / siteinfo / qnet.net ( choose the country in which QNet included 10,000 most popular resources ) .

Country ( place in the ranking of the site of the country) :
1. Sudan ( 588 )
2 . Syria ( 1080) ,
3 . Romania ( 3390 )
4 . Algeria ( 3656 )
5 . Tunisia ( 5090 )
6. Egypt ( 6748 ) .

In November 2013 data were quite different :
1. Syria ( 825 )
2 . Egypt ( 2506 )
3 . Romania ( 2989 )
4 . Algeria ( 4602 )
5 . Morocco ( 6724 )
6. Nigeria ( 6806 ) .

The smaller the number in parentheses , the more popular poster QNet in the country. What do we see?
- Nigeria and Morocco needle jumped from QNet ( ran out of money at the simpletons , and banks are no longer allowed )
- Algeria until falls into the black depth ( QNet popularity grows slowly )
- Romania , Egypt and Syria began to think better of sluggish ( particularly well bounced Egypt )
- Sudan flew into Kunet with all his might .

The conclusion is obvious : lashing out at the country , QNet quickly drains of the most credulous of its citizens profit , then the popularity of his site is sharply reduced . Why would a site to be popular if anybody new can not recruit ? A recruit newcomers does not work, because all those who have money but lack the ability to think clearly , already dragged into this pyramid .

Still look a little further into the past - in August 2013 was even more interesting ( to watch only those countries that have entered into a thousand QNet by popularity )
1. Angola ( 35 )
2 . Botswana ( 98 ) ,
3 . Armenia ( 804 ) .

Note these three countries within a few months confidently flew from rating , giving leadership to other poor countries . QNet scheme works with the countries so - extracts maximum money in the shortest time , after which the activity is transferred to a new victim ( once at last ran out of money ) . Our task - to talk about weaknesses in the legend QNet, to as little as possible of Russian-speaking people affected by this parasite.

If " business QNet" was so white and fluffy , we are told at the presentations , the popularity of his site would not fall so sharply . Only a few months , and Angola, Botswana and Armenia came from QNet. Waited a few months - has been in Nigeria, Morocco and Egypt took off with his neck kunetovskogo parasite. How can this be explained if we start from the honesty scheme QNet? How can this be explained if "QNet so beneficial to join it ?" Yes can not be ! Main explanation recession popularity - refusal of banks to lend to the country students wishing to join QNet. Once there is no money , so immediately popular pyramid plummets. And this is quite logical.

Traditionally, the 11th of each month, we report on the development of our activities to combat QNet ( see February 2014 and the first half ) . Over the past month the following changes :
- Come to the site http://stopqnet.livejournal.com/ 4790 people ( 3723 from Russia , 292 from Ukraine , 148 from Kenya, 103 from Moldova , 65 from Armenia ) . A month ago, were the following data: 5470 people ( 4212 from Russia , 345 from Ukraine, 190 from Kenya, 99 from Armenia , 92 from Moldova , etc.);
- Come to the site http://stopqnet.blogspot.com/ 1056 people (one month ago was 850) .

This means that we were able to communicate objective information about the pyramid QNet approximately 5840 people ( about 195 people a day , or 15 a day less than last month's record ) . We would like to see the popularity of our sites has decreased to almost zero , as it would mean leaving the pyramid QNet from Russia. But for this to be more work . Some optimism on this subject is , but too early to relax .

Another finding presented at the beginning of the record set by leading kunetizatsii countries : it is dominated by states with lower levels of education and income . Remember the wisdom of " Want to be rich - to sell to the poor "? Here it's the same - kunet vparivaet their stuff on almost fake certificates , assigning a price tag , which is 100 times higher than the price for the same stuff in the usual online stores.

Fortunately, the former Soviet Union where many remained good education , so what kind of leadership you want QNet in Russia , Ukraine, Kazakhstan and other fraternal countries can not speak. But this does not mean that we can relax . We must warn those who do not know about the threat of QNet, so they do not accidentally run into it , as did the poor and unfortunate Sudan .

Click on the buttons below to help in combating this polusekte - polupiramide !

jitu moni

5 years ago

http://stopqnet.livejournal.com/
(Translated to English)
Stop QNet in Russia!
Tell us about the problems of the network to their loved ones that they were ready to psychological attacks QNet!
Mar. 19th, 2014 at 1:27 PM

Kazakh edition of Capital also decided to write about the pyramid QNet - http://kapital.kz/gosudarstvo/28001/fina...

Here is the beginning of the article "Pyramid schemes continue to operate in the Republic of Kazakhstan":

"Their creators are not afraid of criminal penalties.
Over the past few years, Kazakhstan has suppressed the activity of 23 financial pyramids . Number of victims of the scams has reached 5000 people at more than $ 1 billion. Such findings have led to the Majilis Committee on Legislation and Judicial Reform in Astana. According to information provided by the financial police of Kazakhstan, operational investigative practice suggests that during the last decade in Kazakhstan there were about 23 such companies. These organizations are designed for mass due to their involvement promised by large dividends.

So , on the eve of employees DIA West Kazakhstan region identified and eliminated " pyramid scheme " designed to steal money in large-scale enterprises and entrepreneurs in small and medium-sized businesses .

According to the Department of the Interior region , a native of the city of Uralsk for 5 years concluded with legal entities fictitious agreements giving them grants from USAID to develop small and medium businesses . Currently excited and investigated criminal cases on 9 episodes of theft by fraud of funds in a large scale. Cumulative damage deceived entrepreneurs made today more than 1 billion, which were cashed through second-tier banks .

Watch for $ 2,000
Similarly in Kazakhstan operates company Qnet, is profiled on e-commerce and network marketing. As reported in the Financial Police , promotion of goods supplied by the organization , not the purpose of the company and serves as an auxiliary mechanism for raising funds . Thus , in order to join the distribution network will need to purchase necessary goods (in this case - a watch worth $ 2,000 [Note stopqnet: interesting that the same watch from an authorized dealer is available in two times cheaper than in the pyramid QNet]) and further involve two customers. According to the report , the income obtained not through investments in goods and to attract new investors and funds.
According to information from " Wikipedia », Qnet is a member of the Direct Selling Association in Singapore, Malaysia and the Philippines , as well as a member of the Hong Kong Association of healthy nutrition and supplements Manufacturers Association of Singapore. In 2007, APLI, Direct Selling Association of Indonesia recognized GoldQuest ( aka QuestNet) pyramid scheme . The company responded that the allegations were unfounded and continued activity on the territory of Indonesia , where they are sending forwards state postal company Pos Indonesia. The company has offices in 23 countries , including India, Turkey , Armenia, Indonesia, Malaysia . QNET unknown in Europe , but as of December 2013 planned to deploy operations there. In Indonesia, Iran and charged with forming a financial bubble led to the closure of branches and the arrest of its employees. The company's activity was also suppressed by government agencies in Dubai and Azerbaijan. At the same time the company denies all charges , the charges against the company were also removed prosecutor Indonesia, with offices in Dubai and Baku continue to function .

As noted in the financial police , victims of fraudulent actions were treated with explanations about the legality of companies. But , despite this, the specific allegations against them are not followed , hoping to receive dividends on their holdings .

In Almaty , the organization conducts a successful operation for several years . Judging by the official group information in a social network "Vkontakte" , the company managed to attract thousands of followers to accomplish more than one training with top managers .

Lack of availability of the application in law enforcement makes the process a criminal case on the fact of damage . Separate offense for organizing financial pyramid existing Criminal Code does not provide . "
Active media well to restrain the pyramid in our countries. We already know of several cases of voluntary closure kunetovskih offices ( faced with the impossibility to recruit newcomers , they flee to the less educated region) . The same thing happens on a global scale - QNet moves from a poor and uneducated country to another. Fortunately, Kazakhstan, Ukraine, Belarus, Kyrgyzstan , Russia and many other countries of the former Soviet Union is still a high level of education , so here kunetovtsam easy.

We try to complicate them even more fraudulent activity by publishing information about weaknesses in the legend QNet. Help us in this ! Click on the following buttons to warn loved ones :

scamfighter

5 years ago

well congrats to gurupreet singh anand for the continous crusade against the qnet scam for the past several months.may god give u the strength to fight such a menace.lot of water has passed under the bridge.everyday some new development is happening regarding the case.but still the hypnotised ir's of qnet say that as this is an election year this all was expected.this is nothing but a media hype,it will slowly die down with time.qnet business will go on as usual as out of 90,000 investors how many have actually filed a case wid the EOW n the concerned authorities

REPLY

gurupreet

In Reply to scamfighter 5 years ago

wait and see... how many in coming days as the forum comes up to attend to victims :)

gurupreet

5 years ago

A Complaint from a QNET Victims..the same modus operandi used to cheat thousands across India :)

I think it is a GREAT time to form a QNET VICTIMS FORUM..who all want to take a active lead in it pls email me on [email protected]

Our Facebook address is:
https://http://www.facebook.com/groups/antiqnet/
[email protected]

Here is the Complaint..copy pasted :)

Dear Friends,

I wanted to share my personal story of trust, friendship, deceit , money and greed. In September 2012 I was talking to a friend (I doubt) on face book and he was very excited about his life and business and was saying how w...e can start the business, since I knew that person from college (2 years senior) and a Kashmiri, I started talking more. I was convinced that it was a good e-commerce business model since a BITSIAN senior is doing it , a well accomplished professional. On my vacation to India in Dec 2012, I met him and had a great chat, reliving memories of the past etc etc, and just on face value I joined the business (invested at least 4.5 lacs) in the business by buying products and got some credit into my account too. I was given assurance that my business will be bought back and money doubled after 3 years, if i do not want to continue. I was back in US in Jan 2013 and as expected I started doing the same., but slowly after talking to people and interacting with my senior I realized that business was MLM. It is projected that business is great, unlimited money, job is not needed and within 4 years people can gain financial independence, a farcical claim. In March due to some serious family situation, I asked to come out of the business and need my investment back and then things started to go south. I started hearing business and friendship cannot be mixed, i don't owe you anything, i did not force you go into business (no body does, it is trust and face value), i am lazy since i am not contributing to business. Finally it was decided that after 6 months i will get money and after six months phone is not picked, i am made to run from pillar to post to get my money back. I still have not got my money back. Subsequently i talked to lot of my BITSIAN friends, and all of them had been approached but none had accepted the business proposal.

The people engaged in business are well accomplished professionals, who project a great lifestyle, like uploading a great new car or great vacation pictures to make curious people ask questions and slowly woo into business (unethical). Friends like me who are targeted to create this false aura of business and great life. In their parlance it is called Prospecting.

Now the question is which company i am talking about, the company name is Qnet, yes the same company which is facing legal challenge in India for unethical business practices.

http://articles.economictimes.indiatimes...

http://www.mumbaimirror.com/mumbai/crime...

Please google Qnet Scam and the rest you will know.

Please do not fall into this scam and do not get fooled by Kuldeep Kaul (https://http://www.facebook.com/#!/kuldeep.kaul?fref=ts) and his partner Anuj Garg (https://http://www.facebook.com/#!/anuj.garg.5209?fref=ts) who run this scam out of GIP NOIDA and Cannought Place

Join in on our facebook page..and support the cause :)

Regards
Gurupreet

jitu moni

5 years ago

http://www.newindianexpress.com/states/k...

The proposed Kerala State Multi-level Marketing (Control and Regulation) Bill, 2013 to regulate multi-level marketing (MLM) in the state has irked the Indian Direct Selling Association (IDSA), that describes the Bill as one which “inhibits the growth of entrepreneurship in the business model of direct selling”.In a detailed e-mail response to ‘Express’ on the draft Bill, IDSA secretary general

Chavi Hemanth said: “Kerala Government’s recent initiative towards bringing out the legislation for directselling industry in the state has certain impractical provisions in it which inhibit the growth of entrepreneurship in the business model of direct selling. ‘‘Hence, we request the government to reconsider the draft and consult the industry stakeholders to assess the feasibility of the legislation.”

Significantly, the bone of contention is the section 13(3), the crux of the draft Bill, which restricts the distributors from appointing or entrusting persons below them to do the business.

This section intends to prevent the formation of pyramid model business plans, which is illegal under the PCMCB Act. However, according to IDSA, “this clause restricts the entrepreneurship opportunity provided by direct selling entities and kills the spirit of the industry”.

The IDSA comprises 18 members including Amway and Modicare. Meanwhile, Superintendent of Police J Jayanath, who was the member of the committee which prepared the Bill, took strong exception to IDSA’s allegation that the Bill kills the essence of entrepreneurship.“The Bill incorporates provisions for a free and fair conduct of MLM in Keralawithout violating the provisions of the PCMCB Act. Any registered MLM entity can recruit any number of direct sellers, who in turn can appoint any number of distributors under them.

By restricting further appointments below the distributor, the Bill only restricts the formation of a binary chain which is illegal. Then, how can one say that the Bill inhibits entrepreneurship?” he said.

Stating that direct sellers and distributors are synonyms as the business model of direct selling, IDSA has challenged certain key sections including registration of direct sellers, refusal of registration of direct selling entity and the relationship of agency “The government is trying to define the relationship between direct-level marketing entity, direct seller, distributor and consumer or customer shall be that of among the principal, agent, sub-agent and third parties, respectively. But as per the business model of direct selling, direct sellers are the independent sales consultant to an entity andhence has principal to principal relationship,” said Chavi Hemanth, adding that IDSA’s legal committee was currently working on the final draft.Countering IDSA’s view, Jayanath said registration was essential for MLM entities, direct sellers and distributors so that the government could monitor their functioning, initiate action against fraudsters and make the consumers aware of the whereabouts of the firms.

The draft Bill, prepared by the committee headed by Industries Secretary K S Sreenivas, is on public domain and suggestions can be made till 5.15 pm on February 15.

REPLY

gurupreet

In Reply to jitu moni 5 years ago

[email protected] Hemanth, these IDSA people chicken out if you ask them direct and pointed questions.

One of the questions put forward to Miss Chavi Hemanth from me was, Please make it mandatory for your IDSA members to reveal the failure rate of the distributors in the promotional material. This failure rate is more then 99%, no wonder she did not reply :P

gurupreet

In Reply to jitu moni 5 years ago

[email protected] Hemanth, these IDSA people chicken out if you ask them direct and pointed questions.

One of the questions put forward to Miss Chavi Hemanth from me was, Please make it mandatory for your IDSA members to reveal the failure rate of the distributors in the promotional material. This failure rate is more then 99%, no wonder she did not reply :P

jitu moni

5 years ago

http://www.kerala.gov.in/index.php?optio...

THE KERALA STATE MULTI-LEVEL MARKETING(CONTROL AND REGULATION) BILL, 2013
Chapter IV
CONDITIONS FOR DIRECT SELLING
15.
Conditions for direct selling by multi-level marketing entities.
-
19
Every multi-level marketing entity shall comply with the following conditions
in respect of their business, namely:
-
(a) It shall be a legal entity authorised to conduct business in India in accordance with the provisions of the laws in force.
(b) It shall have a registered trademark which identifies the entity, the goods or services to be supplied.
(c) It shall maintain records both manual as well as electronic, with complete
details of their goods, services, terms of services, price, income plan, details of
direct sellers under it and all relevant information about the company and business. The websites of a multi-level entity shall be updated regularly.
(d) It shall not require a direct seller or distributor to purchase any goods or
service or to pay any membership fee as a condition precedent for registration
or enrollment of director sellers or distributors.
(e) It shall not require the direct sellers or distributors to pay any money by
way of minimum monthly subscription or renewal charges.
(f) It shall ensure full refund of the price of any goods returned by its
consumers on the ground of any defect or inferior quality as against the information given by it regarding such goods, within thirty days of purchase.
(g) The income plan of a multi-
level marketing entity shall not be based on the number of new direct sellers registered or distributors enrolled. The
benefits received by any multi-
level marketing entity, direct seller or distributor shall be only as a result of selling goods or providing services and
shall not be in connection with the number of registration of direct sellers or
enrollment of distributors.
(h) It shall not require the direct sellers to enroll a minimum number of
distributors for the purpose of receiving any type of commission, incentive or
other benefits.
(i) It shall require the direct sellers and distributors under it to provide the
following informations to the consumers at the time of sale, namely:
-
20
(i) Name, address, register number or enrollment number and telephone number of the direct seller, distributor, as the case may be, and of the
multi-level marketing entity concerned;
(ii) A description of the goods or services to be supplied;
(iii) The Order date, the total amount to be paid by the consumer along with the bill and receipt;
(iv) Time and place for inspection of the sample and delivery of goods;
(v) A notice to the consumer of the consumer's rights to cancel the order
and to receive a full refund of sums paid;
(vi) Details regarding the complaint redressal mechanism of the multi-level marketing entity;
(vii) The direct sellers and their distributors shall at all times carry identity card issued by the Authority.

gurupreet

5 years ago

Open CHALLENGE to "QTARDS"..

Let me expose how this product called "Amezcua Chi Pendant" is being sold and marketed in my country...

Officially the QNET version about Amezcua Chi Pendant is as below..mind you QTARDS this is what YOUR company says..not me :)

"To combat depleted energy levels without adding to the already busy schedule of your day, the Amezcua Chi Pendant is a way to provide continuous protection from the effects of a busy and stressful world, a way to recharge your batteries, and importantly, a way to allow you to get on with life with a bounce in your step.

Key Benefits

Feel refreshed and rejuvenated.

Improve your harmony and energy levels.

Protect yourself from the negative effects of electromagnetic fields (e-smog)"

Now let me point out a case i came across my research when one of the India's TOP Liar..oops i meant Lawyer made a statement in court that there was not a SINGLE case pending against Suresh Thimris Tansview company, whom they claim has NO RELATIONS what so ever with QNET and that Suresh Thimri and Transview are just a IMPORTER AND CLEARING AGENT..what CRAP..any ways back to the case..

The COMMISSIONER OF CUSTOMS (SEAPORT-IMPORT) OFFICE OF THE COMMISSIONER OF CUSTOMS SPECIAL INTELLIGENCE AND,INVESTIGATION BRANCH,THE DEPUTY COMMISSIONER OF CUSTOMS, OFFICE OF THE COMMISSIONER OF CUSTOMS, SPECIAL INTELLIGENCE AND INVESTIGATION BRANCH had registered a case against Transview Company and seized the goods imported by Transview company of Mr.Suresh Thimri

Briefly stated the facts are: that the Transview had imported "Amezcua Chi Pendant" said to be artificial jewelry from its supplier M/s. QNET Ltd., Hong Kong.

Oh so QTARDS your best selling "WELLNESS PRODUCT" which you all wear around your necks so diligently is just a piece of "artificial jewelry " or did your CEO lie to the customs to save on customs duty?

Further the customs intelligence unit alleged that..

there was a mis-declaration on the part of the importer Transview on the following grounds:

a) Description

b) Country of origin

c) Classification

d) Existence of relationship with the supplier

e) True transaction value

SHAME ON YOU MR.SURESH THIMRI AND YOU ALL QTARDS...SHAME ON YOU ALL FOR CHEATING YOUR OWN MOTHER LAND..SHARAM KARO..

Guru

gurupreet

5 years ago

Pushpam Appalanaidu, MD of QuestNet India was arrested at Chennai International Airport following a look out notice from the Andhra Pradesh CID. Appalanaidu, a Malaysian, faces 21 criminal cases of cheating for duping investors for Rs160 crore

Immigration authorities at the Chennai International Airport has arrested Malaysian Pushpam Appalanaidu, who is wanted by the Andhra Pradesh police in several cases of cheating investors for around Rs160 crore through multi-level marketing (MLM) schemes. Appalanaidu was known as managing director of QuestNet India, the previous avatar of QNet in the country.

According to a report from The Hindu, the 50-year-old accused, Pushpam Appalanaidu, a Malaysian, faces 21 criminal cases of cheating and the Prize Chits Money Circulation Schemes (Banning) Act 1978 too was invoked against her.

"Criminal Investigation Department (CID) officials had issued a look-out to Immigration officials in Delhi, which was sent to all international and domestic airports in the country. The woman was caught by authorities at the Chennai airport as she was about to board a flight for Malaysia," the report says.

Appalanaidu along with four other accused had floated a MLM company and indulged in alleged illegal company activities by collecting deposits from investors in Andhra Pradesh by promising high returns, CID official told PTI.

Following police action, both QuestNet and GoldQuest, the multi-level marketing (MLM) companies run by QI group of Malaysia shut shop in 2009. They now call themselves QNet, which is also under the lens and the economic offenses wing (EOW) of Mumbai Police as well as Enforcement Directorate are probing the operations of the company.

In India, it was registered as GoldQuest International India Pvt Ltd in 2001. Elsewhere QuestNet Enterprises was registered in November 2004 in Chennai. Between them, they had offices at Bangalore, Mumbai and Hyderabad.

Although QuestNet’s claims about its legitimacy was an important part of its sales pitch, government agencies too were uncomfortable about its operations and at that time the Intelligence Bureau (IB) sent out a report questioning its activities to several government agencies.

Both GoldQuest and QuestNet used to sell a pair of limited edition, numismatic medallions for around Rs30,000 that were made in Germany. These had images of Indian deities, the ka’abah, Bhagwan Mahavir, the Pope and Mother Theresa; it also had coins for major world sporting events-in fact, it had coins for every interest group. The coins were sold through closed-group presentations led by influential people - doctors, lawyers, sports stars - and the products were pitched at those who can cough up Rs30,000 for a pair of medallions of doubtful value (limited edition coins don’t necessarily appreciate in value). The emphasis at these meetings was on establishing the apparent legitimacy of the scheme by displaying documents about its tax filing, apparent government permissions and its ISO 9001:2000 certification.

However, the selling point was not the value of the coins or their potential appreciation. Each buyer of coins, who puts down 30 grand, was supposed to persuade two others to join the scheme and purchase coins. When that happens, the originator gets back a part of his money in line with a detailed matrix, which is spelt out on its website without indicating the exact returns earned.

Coming back to Appalanaidu, during August 2009, JR Mayer, the managing director of QI Group sent an invite to Moneylife's managing editor Sucheta Dalal. Mayer, in the letter, said, "Due to the legal challenges that both the companies have been facing, in India for over a year now it has unfortunately led to both companies being forced to halt their operations and temporarily close down their offices. However the companies are by no means non-existent. Thus the MD of QuestNet India, Ms Pushpam Appalanaidu has not been in any position to make media statements or invite the media to an open forum to answer questions about the two entities."

QI group units were actually banned in 2009 while operating under the names of Goldquest International Pvt Ltd and Questnet Enterprises India Pvt Ltd. In fact, the Ministry of Corporate Affairs in its report for 2010-11 has specifically shown both these companies as being under investigation by Serious Frauds Investigation Office (SFIO).

The 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 also been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978, similar to Appalanaidu.

I am sure Mumbai EOW will bring her to Mumbai soon ;)

gurupreet

5 years ago

When this fight began..i got personal INFO & Complaints regarding the TOP Leaders of QNET in India...but i desisted to expose them as my fight was against the SCAM and not against these individuals...

For e.x.

1. The top woman leader in India who got ABA in a old case by lying to a higher court..i was tempted to expose her but i got the info she was pregnant..so i decided to wait on humanitarian grounds...

2. AS whose mother FS was responsible for holding a seminar in marine lines and then later in dadar..and because of whose foolishness 8 TOP IR,s of Golden Pi Gang got arrested. The best part is that the same FOw*** S was responsible for the arrest of these 8 people, while she, her son and daughter escaped as part of the Dea*. Shame on these people who sacrificed their own people to protect her daughters wedding. I kept quite again on humanitarian grounds..cos it was a girls wedding...warna media would have had loved the story...

3. Ex wife of TOP leader who is absconding in dubai..could have had her used..but again i said..my fight is against the company and not individuals..so i kept quite..

So many other instances..but then Q poked their dirty nose into my personal affairs..and from now it is not JUST A FIGHT AGAINST THE QNET but now it is PERSONAL...lets have it...now wait and see what i do..

Q you will REGRET meddling into my PERSONAL PROBLEMS..

You have not seen the BAD times yet...

Love
Guru

gurupreet

5 years ago

http://www.dnaindia.com/mumbai/report-no...

The Bombay High Court on Wednesday refused to grant any interim relief to a clearing agent Transview Enterprise India Private Limited, whose accounts have been frozen for their alleged involved in the QNet scam worth over 400 crore.

A division bench of Justice N H Patil and Justice V L Achliya refused to allow the de-freezing of bank accounts of the company while hearing a petition filed by its director Suresh Chimeeri. The plea was argued by Advocate Niteen Pradhan who said that the company is a clearing agent for the company which imported good from Honkong to India and it has no further role to play in the alleged scam.

The Economics Offence Wing (EOW) has wrongly frozen the accounts and it should be de-frozen for the company to pay its statutory taxes of around 4 crore which include, Income Tax, Sales Tax, VAT and Custom Duty. Or else action under the penal provisions would be taken by the authority concerned.

Advocate Pradeep Gharat appearing for EOW opposed the petition on the grounds that investigations were still on and the accused was one of the prime accused in the case and no leniency should be shown to him. While the complainant in the case, Gurpreet Anand said that the company had taken out several crores from India as it is a Foreign Company and it would not be difficult for it to bring a small amount back into India to make the statutory payments.

The court after going through the entire arguments noted that it would finally hear the petition on March 6 and till then refused to grant any interim relief.

The EOW has arrested nine team leaders of QNet so far for allegedly duping investors by selling products like magnetic disks, herbal products and holiday schemes through fraudulent practises.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors. The accused were charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

http://www.dnaindia.com/mumbai/report-no...

gurupreet

5 years ago

http://www.dnaindia.com/mumbai/report-no...

The Bombay High Court on Wednesday refused to grant any interim relief to a clearing agent Transview Enterprise India Private Limited, whose accounts have been frozen for their alleged involved in the QNet scam worth over 400 crore.

A division bench of Justice N H Patil and Justice V L Achliya refused to allow the de-freezing of bank accounts of the company while hearing a petition filed by its director Suresh Chimeeri. The plea was argued by Advocate Niteen Pradhan who said that the company is a clearing agent for the company which imported good from Honkong to India and it has no further role to play in the alleged scam.

The Economics Offence Wing (EOW) has wrongly frozen the accounts and it should be de-frozen for the company to pay its statutory taxes of around 4 crore which include, Income Tax, Sales Tax, VAT and Custom Duty. Or else action under the penal provisions would be taken by the authority concerned.

Advocate Pradeep Gharat appearing for EOW opposed the petition on the grounds that investigations were still on and the accused was one of the prime accused in the case and no leniency should be shown to him. While the complainant in the case, Gurpreet Anand said that the company had taken out several crores from India as it is a Foreign Company and it would not be difficult for it to bring a small amount back into India to make the statutory payments.

The court after going through the entire arguments noted that it would finally hear the petition on March 6 and till then refused to grant any interim relief.

The EOW has arrested nine team leaders of QNet so far for allegedly duping investors by selling products like magnetic disks, herbal products and holiday schemes through fraudulent practises.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors. The accused were charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

http://www.dnaindia.com/mumbai/report-no...

gurupreet

5 years ago

"One man with courage is a majority."

gurupreet

5 years ago

Hello Friends,

Thanks for reporting your up-lines, now after the case has been registered by the ED time has come that all these properties,high end cars like the audis,bmw,s etc these qnetters used to flaunt will be attached.

I am sure the agencies are also keeping a watch on every one who is promoting and enticing people to visit malaysia for the V-Con.

Also these team leaders who have been for years using those credit cards and taking cash from innocent victims will be on radar..

Please send in more details of all the scamsters and white collared criminals on [email protected]

Regards
Gurupreet

gurupreet

5 years ago

Hello Friends,

Just got free, ED registered case of money laundering against QNET. I thank every one for the support shown.

I may not be able to come online for 2-3 days as i have to prepare for a bigger battle ahead and expose the names involved in this "pure money laundering scheme" called QNET.

I request active members to please try and counter any propaganda that QNET PR machinery will engage in the coming days in my absence.

Lets all fight this SCAM together and Layer by Layer lets all expose this money laundering scheme and expose its ugly under belly...

जिंदगी तो सिर्फ अपने कंधों पर जी जाती है, दूसरों के कंधे पर तो सिर्फ जनाजे उठाए जाते हैं.

I just came to know that QNET is again putting advertisements in leading news papers, this is highly un-auspicious for them, last time they advertised 8 IR,s got arrested and now they advertised again and they get case registered by ED..

आम तौर पर लोग जैसी चीजें हैं उसके आदी हो जाते हैं और बदलाव के विचार से ही कांपने लगते हैं. हमें इसी निष्क्रियता की भावना को क्रांतिकारी भावना से बदलने की जरूरत है.

The fight is not a easy and short one..but then this was known...

Jai Hind
Gurupreet

REPLY

jitu moni

In Reply to gurupreet 5 years ago

http://www.complaintboard.in/complaints-...

Qnet Products
Hi Dev

I was enrolled into Qnet in 2012, honestly didnt believe in the model even but had a friend who pressured me and i took the punt. I bought a holiday package for which i spent a fortune, again the idea was that even if i really didnt make any money i would rather go an utilize the holiday (5star holiday thats what i was told by a senior IR who i would like to name) I have travelled a fair bit and i landed in Thailand last year and checked into the property which i am sure you have sold as well. I dont know about how much you have travelled but the definition of 5star took me by surprise. It was worse than a guest house that too vegetarian!!

Well i really dont care about your business and neither was i interested in making money in it, but what i am interested is the sort of service standards or product standards the company has. Prana Resort was and is an embarrasment. To add to it i travelled to Antalaya as i live in the Middle East and happeded to check out the property there, this time i knew what to expect. It was a shoddy to say the least.

Now my friend i ask you, what does Qnet do about customer experience as i am not questioning ur model (Whether good or bad i dont care) Any business and company existing int he world today offers some sort of experience to its customer. Well the business you so strongly propagate and defend offers none of it.

I went back to Delhi and called my IR and asked him again this time he said and i quote "buddy its a guest house" (i was livid) & i questioned him, he did not have a thing to say other than the fact that i could make money. Now my point to many of your responses on product & business is that which business today openly bullshits to this end. I understand you mayhave a junior advisor of a fmcg/insurance company give you a story like that (well i hv workedin insurance 8 years) but a senior IR (who talked abt faith).

Let me honestly ask you one question and the only answer i seek - Will you ever pay about 50k for a guest house in thailand. Just a Yes or a No will be fine

Regards

Vidur

jitu moni

In Reply to gurupreet 5 years ago

http://www.business-standard.com/article...
Serious Fraud Investigation Office has so far filed prosecutions against 8 firms including Global Trust Bank and City Limouzines (India).

The agency, which comes under the Corporate Affairs Ministry, has filed the prosecutions against the defaulting companies and errant directors.

Prosecutions have been filed against eight companies related to 61 cases -- under Companies Act as well as IPC -- filed against them, Parliament was informed today.

The companies are Global Trust Bank, Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd, Jayant Vitamins Ltd, City Limouzines (India) Ltd, Palamoor Agro Complex Ltd (under liquidation), Ayushi Buildestates Pvt Ltd and Yusuf Properties Pvt Ltd.

Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd are suspected to be related to multi-level marketing firm QNet, which is currently under the scanner of Economic Offences Wing of the Mumbai Police.

In a written reply to the Lok Sabha, Corporate Affairs Minister Sachin Pilot said that out of the probe reports submitted to the government in the last three years and this year SFIO has secured convictions with respect to two companies involving 39 complaints.

Five directors of these entities were held guilty in such cases for multiple offences.

SFIO does not register cases against individuals but only takes up investigations "under Section 235, 237 or 239 of the Companies Act, 1956" as and when entrusted by the central government.

"Such investigations could bring out the role of individuals including the directors of companies under investigation," Pilot said.

Under the new Companies Act, SFIO would have statutory recognition which would help the agency to carry out investigations more comprehensively.

Meanwhile, the government has initiated various steps including induction of technology to improve investigation methods such as setting up a forensic lab at SFIO premises.

Towards strengthening inter-agency co-ordination, recently an Inter Ministerial Group (IMG) with members from Corporate Affairs Ministry, Department of Financial Services, Reserve Bank of India and Securities and Exchange Board of India has been set up to "deal with frauds by unscrupulous companies".

jitu moni

5 years ago

http://indiatoday.intoday.in/story/break...

5.15 pm: Enforcement Directorate registers money laundering case in Rs.425-crore QNet financial fraud case in Mumbai.

REPLY

jitu moni

In Reply to jitu moni 5 years ago

http://www.business-standard.com/article...
Serious Fraud Investigation Office has so far filed prosecutions against 8 firms including Global Trust Bank and City Limouzines (India).

The agency, which comes under the Corporate Affairs Ministry, has filed the prosecutions against the defaulting companies and errant directors.

Prosecutions have been filed against eight companies related to 61 cases -- under Companies Act as well as IPC -- filed against them, Parliament was informed today.

The companies are Global Trust Bank, Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd, Jayant Vitamins Ltd, City Limouzines (India) Ltd, Palamoor Agro Complex Ltd (under liquidation), Ayushi Buildestates Pvt Ltd and Yusuf Properties Pvt Ltd.

Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd are suspected to be related to multi-level marketing firm QNet, which is currently under the scanner of Economic Offences Wing of the Mumbai Police.

In a written reply to the Lok Sabha, Corporate Affairs Minister Sachin Pilot said that out of the probe reports submitted to the government in the last three years and this year SFIO has secured convictions with respect to two companies involving 39 complaints.

Five directors of these entities were held guilty in such cases for multiple offences.

SFIO does not register cases against individuals but only takes up investigations "under Section 235, 237 or 239 of the Companies Act, 1956" as and when entrusted by the central government.

"Such investigations could bring out the role of individuals including the directors of companies under investigation," Pilot said.

Under the new Companies Act, SFIO would have statutory recognition which would help the agency to carry out investigations more comprehensively.

Meanwhile, the government has initiated various steps including induction of technology to improve investigation methods such as setting up a forensic lab at SFIO premises.

Towards strengthening inter-agency co-ordination, recently an Inter Ministerial Group (IMG) with members from Corporate Affairs Ministry, Department of Financial Services, Reserve Bank of India and Securities and Exchange Board of India has been set up to "deal with frauds by unscrupulous companies".

gurupreet

5 years ago

Hello Friends,

Last night me, my wife and my younger child met with a accident, by gods grace no one sustained any major injuries.

My son got saved because he had just got down from my Activa scooter and one person who was in full speed on a pulsar bike ran over our parked scooter.My wife sustained minor injury.

I dont know who was behind this accident/attack and hence i had to let go off that guy.

But one thing i know and that is there is one person who is my families savior and that is "GOD" almighty.

This video gives me strength to fight this giant evil called "QNET". Hope you all will like it..

https://http://www.youtube.com/watch?v=TbGqkRc8U...

Friends all these incidents will increase in the coming days, More cases will be filed against me but the fight has to continue...

There is no need to feel disheartened or to feel low as we prepared well for this fight, even if i were to remain absent for any reasons, Plan B will always take over as had happened in the last episode where i was illegally detained to keep me away from appearing on crucial dates in various courts, Plan B took over and was quite effective..

I hope you all like this inspirational song...

https://http://www.youtube.com/watch?v=t__AUZ9jd...

The attacks will continue...

The Fight will continue....

Jai Jai Matram
Gurupreet

REPLY

Gurupad

In Reply to gurupreet 5 years ago

We love u gurupreet

Uday

In Reply to Gurupad 5 years ago

Appreciate the efforts Gurpreet

gurupreet

5 years ago

********** Appeal **********

Dear Friends,

As the fight comes to the crucial stage we need some more info inputs from you all, I hope you will all come forward as in the past and help us.

We need the following information:-

1. Details of events/systems etc held in different cities by members of quesetnet/qnet/vihaan etc with dates and name of the venue, with photographs & Videos if available.

2. Names and IR,s numbers of the top leaders of Questnet/QNET all over India.

3. Details of these leaders like the house addresses, cars owned etc.

Please email us all the details on [email protected]

STOP THE SCAM
BE THE CHANGE

Jai Hind
Guru

gurupreet

5 years ago

Michael ferreira develops selective amnesia...says he does not remember anything and he never promoted the qnet scheme..he should be using the bio-shit i mean bio disc..will help him may be ;)

jitu moni

5 years ago

http://www.asianmirror.lk/english/index....

QNet, the controversial direct selling company owned by Vijay Eswaran, admits that one of their shadow companies is operating in India - where they are facing serious allegations such as duping investors through fraudulent practices.

‘Direct selling company” is a euphemistic term for multi-level marketing which is sometimes dubbed by the media as ‘pyramids’.

In a statement issued in Mumbai, Zaheer Merchant, Director of Corporate Affairs from Qnet, says, “Qnet has no shell companies in India as has been alleged. We operate through a fully Indian company that has the franchise right to the Qnet brand." Even though they have tried to distance themselves from operations in India, it seems like they have put their foot in the mouth due to this statement issued by them.

QNet, the company which is in the middle of the controversy, is owned by Vijay Eswaran, the biggest shareholder of Asia Capital PLC, Sri Lanka’s largest investment bank listed on the Colombo Stock Exchange (CSE).

The Mumbai Police has so far arrested nine team leaders of the QNet for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices. QNet, according to Indian media, has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

The Sri Lankan Central Bank has already described QNet (formerly GoldQuest) as a pyramid scheme. About six years ago they operated a multi level marketing scheme under Gold Quest banner, but due pressure from Sri Lanka Central Bank, they were forced to close shop. In addition to the Sri Lankan Central Bank, Australian Politician Cameron Thompson, the Nepalese Home Ministry and the Iranian Government have also leveled the same allegation against the company.

The Indian development is very intriguing; in this statement Merchant seems to have got his facts into a twist, by the statement “we operate though a fully Indian Company…” – what is Qnet up to? Isn’t he admitting to this entity vicariously having a connection to the Mother company (Qnet) and thereby Vijay Eswaran – is the question!

According to the statement issued by Merchant, QNet was established in 1998. “Today, it has more than 60 lakh distributors and customers around the world with product sales in 100+ countries, 25 worldwide offices and agencies and more than 50 stockists,” the statement says. The next question is whether Sri Lanka is also on the list?

As Forbes magazine describes, Eswaran is the 50th richest man in Malaysia. In Sri Lanka, his total investments in the stock market amount to to Rs. 3.6 billion. Eswaran’s grandfather was a Jaffna Tamil who later migrated to Malaysia. His wife is a Sri Lankan who was born and grew up in Colombo. He owns 87% of the Asia Capital shares. What else are his stakes in Sri Lanka, “shell” or otherwise – is another mystery!

jitu moni

5 years ago

http://www.fbi.gov/scams-safety/fraud

Pyramid Schemes

As in Ponzi schemes, the money collected from newer victims of the fraud is paid to earlier victims to provide a veneer of legitimacy. In pyramid schemes, however, the victims themselves are induced to recruit further victims through the payment of recruitment commissions.

More specifically, pyramid schemes—also referred to as franchise fraud or chain referral schemes—are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product. The real profit is earned, not by the sale of the product, but by the sale of new distributorships. Emphasis on selling franchises rather than the product eventually leads to a point where the supply of potential investors is exhausted and the pyramid collapses. At the heart of each pyramid scheme is typically a representation that new participants can recoup their original investments by inducing two or more prospects to make the same investment. Promoters fail to tell prospective participants that this is mathematically impossible for everyone to do, since some participants drop out, while others recoup their original investments and then drop out.

Tips for Avoiding Pyramid Schemes:

Be wary of “opportunities” to invest your money in franchises or investments that require you to bring in subsequent investors to increase your profit or recoup your initial investment.
Independently verify the legitimacy of any franchise or investment before you invest.

The Kingslayer

5 years ago

QNET is just a pyramid scheme. It's not really an MLM company but simply pretending to be one.

With QNet, sales are not the main goal. The main goal is to recruit more members which is what F2 is. The products are just a cover for the exorbitant initial investment.


That's right, sales are made only because prospective members are forced to buy a product if they want to join.

See Video Evidence: Join QNet by purchasing a product.
http://qnetexposed.com/wp-content/upload...


Now why would people in developing nations (which is where QNet has its fangs) or anywhere for that matter, spend their savings on the most worthless of phoney products, stuff that would otherwise fail to draw interest even when given away for free?

It's because they are promised riches beyond their wildest imaginations if they do so.

So signup by purchasing the most expensive product, and you gain the highest earning potential in return because you're given so many more Tracking Centers. Oh, and you also self qualify!

See Video Evidence: You are not paying for a product, you are paying for an Opportunity.
http://qnetexposed.com/wp-content/upload...


And for all those people out there who deny that QNet is a pyramid scheme, you're either under a grave misapprehension, are utterly deluded or are extremely conniving individuals who lack even a single fiber of moral integrity.

See Video Evidence: This gem of a video exposes QNet's modus operandi. Recruitment!
http://qnetexposed.com/wp-content/upload...


Lastly, a pyramid scheme is a scheme that requires an exponentially increasing amount of members to enroll by bringing in a sizable investment. The investment brought in by these newer members is then used to pay commissions/interest to the older ones.

Just because a conventional company's hierarchy tapers as you go higher doesn't make it a pyramid scheme.

Remember, pyramid schemes do not generate any value or income. The money brought in by ever increasing hordes of recruits is circulated amongst the older ones. So if the recruitment stops, the scheme goes bust.

The pyramid scheme by Bernie Madoff ran successfully for 3 decades before it finally collapsed like a house of cards. And at the time it went bust, there was about $36 million invested into it. So don't think QNet has stood the test of time or is too big to burst like a bubble.

jitu moni

5 years ago

http://timesofindia.indiatimes.com/india...

QNet case: Police ask bank to freeze Ferreira’s account

MUMBAI: The economic offences wing (EOW) probing the Rs 425-crore QNet cheating case on Tuesday wrote to a bank asking it to freeze former billiards champion Michael Ferreira's account. Ferreira (75), who was questioned by the EOW for two hours on Tuesday, also deposited his passport.

A court hearing Ferreira's anticipatory bail plea had directed him to appear before the EOW between January 27 and 31.

The police said Ferreira holds 80% shares of Vihaan Direct Selling. "We want to know how he came in touch with Vihaan. He said he got commission by working for it," said an officer. When asked about his source of income, Ferreira reportedly said he wrote columns in newspapers and appeared as commentator on TV shows.

Police suspect that Ferreira was part of a binary scheme that started a business in India.

A PR firm, on behalf of Ferreira, said he responded to all queries and will continue to cooperate with the probe. "He maintained that the cheating and other charges against him are baseless. He is only an investor in Vihaan and had no executive role to play," the statement said.

jitu moni

5 years ago

http://timesofindia.indiatimes.com/india...

MUMBAI: Three weeks after the city police issued a look out circular against former World Billiards Champion Michael Ferreira in connection with the cheating case by firm, QNet, Ferrera on Monday appeared before the economic offences wing (EOW) officials who recorded his partial statement. He has been called tomorrow again.

Ferrera, 75, was in the EOW office for nearly two hours. "Our officers spoke to Ferrera about several things related to the case. As per the court instructions, he will be depositing his passport with us tomorrow. We have not started the attachment of properties yet," said Rajvardhan Sinha, additional commissioner of police, EOW, indicating the attachments may begin in the next two to three days. The QNet cheating case, as per police record, has crossed the figure of Rs 425 crore.

The Sessions court, which is hearing Ferrera's anticipatory bail application, directed him to appear before the investigators between January 27 and January 31. Hearing for his bail application is scheduled for January 31. Police suspect Ferrera was part of a binary scheme that started a business in India. A Mumbai resident, Gurpreet Singh Anand, first filed an FIR against the firm for cheating. After Ferrera failed to turn up for questioning as per a police summon, the police issued a look out circular notice against him and several others in Janaury 2. Ferreira, who was away in Malayasia, said he could not appear before the EOW earlier as he was undergoing treatment in Malaysia.

Ferreira is a share-holder in the QNet, accused of duping investors by offering to sell magnetic discs, herbal products and holiday schemes allegedly through fraudulent practices. Till today, nine persons have been arrested in the QNet cheating case. The accused have been charged with booked for forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

Ferrera, through his PR firm, dismissed the insinuation that he was trying to evade the law and said. "I came back to India the moment doctors cleared my trip. Therefore, there is no question of me not coming to answer the investigators," said Ferrera in a press statement.

jitu moni

5 years ago

http://www.thehindu.com/business/Industr....
Over three weeks after a lookout notice was issued against him, former World Billiards Champion Michael Ferreira was on Monday grilled for nearly two hours in connection with the alleged Rs 425 crore scam involving multi-level marketing firm QNet.

Accompanied by his lawyer, 75-year-old Ferreira turned up before the Economic Offence Wing (EOW), following Wednesday’s directive by a sessions court to present himself for questioning on Monday.

The court, which is hearing his anticipatory bail plea, had also granted him interim protection from arrest till January 31, when his application would be taken up again.

Emerging from police headquarters after questioning, Mr. Ferreira said, “I was not missing and came here to co-operate with the ongoing investigation.”

Mr. Ferreira, who was away in Malayasia, said he could not appear before the EOW earlier as he was undergoing treatment but refused to disclose the nature of his illness.

Responding to reporters’ questions, Mr. Ferreira trashed suggestions that he had been trying to acquire foreign citizenship.

“I have not applied for any citizenship abroad, these are wrong reports. I have given all my years for this country, why should I apply for citizenship abroad. I am a proud Indian,” he said.

The ace cueist will be called for questioning again in the next few days, an EOW officer said.

Mumbai Police had on January 2 issued a lookout notice against Mr. Ferreira after he failed to appear before them despite summons in the second week of December asking him to turn up and explain his association with the company.

Mr. Ferreira is a share-holder in the company accused of duping investors by offering to sell magnetic discs, herbal products and holiday schemes allegedly through fraudulent practices.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to lure investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

Mr. Ferreira had earlier denied any wrongdoing and also defended the controversial company.

In his anticipatory bail plea, Mr. Ferreira said the complaint did not show commission of any offence by him.

While claiming no specific role has been attributed to him, Ferreira said a case under section 420 of IPC (cheating) is not made out against him and he has not deceived the complainant.

He had said any offence under sections of Prize, Chits and Money Circulation Schemes (Banning) Act also can not be made against him as he did not promote or conduct any prize chit or money circulation scheme.

The EOW has arrested nine team leaders of QNet in connection with the alleged scam so far.
Reply »Link » Rep

REPLY

gurupreet

In Reply to jitu moni 5 years ago

He continued the earlier charge sheeted scam of questnet by floating a new company called Vihaan in which he owns 80% shares...formed Team Faith to cheat citizens of India. His son, daughter in law and others actively promoted the whole scam in my country..how is he not involved?

gurupreet

5 years ago

When i got arrested in this Bogus and False case because of the bribes paid by QNET i remembered Sheetal Sathe, for people who do not know who she is i am posting some info about her :)

Sheetal Sathe (Marathi: शीतल साठे) is a folk singer, poet, and Dalit rights activist from Pune, Maharashtra, India. She rose to prominence within Maharashtra as one of the lead singers of the troupe Kabir Kala Manch in the mid-2000s.
In May 2011, a crackdown by the Anti-Terrorism Squad on musicians and poets accused of promoting Maoist or Naxalite ideology led to Sathe and other members of Kabir Kala Manch going into hiding.[1] [2] She and her husband Sachin Male, also a member of Kabir Kala Manch, surrendered to the police on April 2, 2013 in Mumbai, while maintaining that they were innocent of charges.[3] But in spite of her pregnancy, Sheetal, along with her husband, were denied bail immediately and again on June 4th, 2013 by the Mumbai Sessions Court.[4] [5] Finally she was granted bail by the Bombay high court on June 28, 2013 on humanitarian grounds.[6]

Below is a very good song sung by her regarding the ideas and thoughts of Bhagat Singh..

http://www.youtube.com/watch?v=lNk-z01IL...

Original Lyrics:

Aye Bhagat Singh tu zinda hain
Har ek lahu ke katre mein
Har ek lahu ke katre mein
Inquilab ke naare mein
Aye Bhagat Singh tu zinda hain
Har ek lahu ke katre mein

Tu yeh to tab hi bola tha
Yeh azadi nahi dhokha hain
Yeh pure mukti nahi hain, yaaro
Goro ke sang saoda hain
Is jhute jashan ki rounak mein
Phanse huye kishano mein
Roye huye jawano mein
Aye Bhagat Singh tu zinda hain
Har ek lahu ke katre mein

Itihas mein bhi hum bhukhe the
Aur aaj bhi thokar khate hain
Jis Khadi par rakkha bharosa
Who aaj bhi dhokha dete hain
Koi Ramnam Bol Har pukare
Aaj bhi janey lete hain
Ab yaad hain Bhagta teri aati
Aag lagi hain sine mein
Aye Bhagat Singh tu zinda hain
Har ek lahu ke katre mein

Andhero ka yeh takht humey
Taquat se ab thukrana hain
Har saans jaha legi udan
Us lal subah ko lana hain
Shaheedo ki raha par mar mitne ki
Krantikaree umidon mein
Aye Bhagat Singh tu zinda hain
Har ek lahu ke katre mein

Inquilab Jindabad
Vande Matram

jitu moni

5 years ago

http://www.mca.gov.in/Ministry/pdf/Lok_s...
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
FRAUD PREDICTION MODEL
(a) & (b) The Ministry is in the process of developing
an early warning system (EWS) to identify and prevent
potential frauds.
A Committee of technical experts
has recommended a framework for developing such system. The recommended framework is under consideration of the Ministry and it is proposed to pilot t
est the system recommended during the current financial year.
(c)Details of cases investigated by SFIO in the last three years and the current
year are enclosed at Annexure-A.
(d) On the basis of recommendations made by the
SFIO in its investigation reports,Government has been according sanctions for filing prosecutions under the Companies Act,1956 and the Indian Penal Code 1860; referring cases for
disciplinary action against professionals to the professional institutes concerned;and sharing report
s with various regulators/ enforcement agencies, such as
Securities and Exchange Board of India (SEBI), Reserve Bank of India (RBI), Income
Tax Department, Enforcement Directorate (ED), etc.,for taking appropriate action of violations pertaining to their
respective statutes.
(e)The Government has taken several measures to check frauds by unscrupulous
companies, such as:
(i)Induction of technology to improve methods of investigation, including
setting up a Forensic Lab within SFIO premises.
(ii)Signing of a Memorandum of Understanding by SFIO and the Ministry with the ‘Financial Intelligence Unit–India(FIU-IND)’,an agency under the
Ministry of Finance for exchange of information relating to suspicious
banking transactions;
(iii)Organising investor awareness programmes in association with professional institutes and other regulators, enforcement agencies and using the electronic media for sensitizing investors of the dangers of fraudulent financial schemes;
(iv)Strengthening of Inter-agency coordination with the recent decision to set up Inter-Ministerial Group with members from Ministry of Corporate Affairs,Department of Financial Services, RBI and SEBI with a view to speedily deal with fraud by unscrupulous companies;
(v)Incorporation of a provision in the Companies Bill to give SFIO statutory status to enable the organisation to more comprehensively investigate
corporate fraud
Names of companies in which investigations completed and reports submitted by SFIO during the last three years and the current year.
2012-13 2013-14
16 M/s Goldquest International Pvt. Ltd.
17 M/s Questnet Enterprises India Pvt. Ltd.

George

5 years ago

TRAPPING IN QNET- CALLING SCRIPT TO LURE PROSPECTS. Prospect : So what are you doing these days??
IR: (say it with full enthusiasm) I have got something very good and I am very excited about it. I was looking for it from so long and now I have got it.
I was fed up of my job... Kab tak karta ??Ends meet ke liye kab tak ye struggle karni..
But now I have got my lifes plan in hand..
Prospect: What is it?
IR: I am partnered with a Malaysian based company and I am responsible for its global distribution (multiple business verticals). There we work on equal revenue sharing model and the best part is its on ecommerce platform.
There is a huge earning potential attached with this project. Basically the road map is of 4-5years wherein we work in 3phases
1st phase—is of 18 months, wherein we build our business along with our job and we start earning consistently approximately 2lakhs/month
2nd Phase—another 18 to 24 months and the earning potential goes upto 4-5lakhs/month
3rdphase—and the earning potential goes beyond 10-15lakhs per month.
Prospect: Sounds great

Goldie

5 years ago

Yes I'm sure the FIR filed against gurupreet was all lies. Maybe there was no FIR. Maybe his father was bribed or hypnotized by path man or boman Irani or shahrukh khan. Maybe soniya Gandhi is in this too. Everyone is lying only guruji is telling the truth.

REPLY

gurupreet

In Reply to Goldie 5 years ago

HEY GOLDIE you are a gem..yes there are political masters of QNET..and i will expose them soon, do not worry ;)

Gajendra Randhawa

In Reply to gurupreet 5 years ago

Beta Gu Preet, ho gaya EXPOSE Munna? Ho gaya Sach Ka Saamna,aur woh bhi tere apne ,poojya pitashri ke through! Fraudiye, apne ghar ko hi nahin chodaa! Bhaag Guru,Bhaag! Abh laat,goonse,zilath tera phicha karegi. Sabka hisaab hoga, khoteyaa!

karam

In Reply to Gajendra Randhawa 5 years ago

http://timesofindia.indiatimes.com/india....

QNet case: Police ask bank to freeze Ferreira’s account

MUMBAI: The economic offences wing (EOW) probing the Rs 425-crore QNet cheating case on Tuesday wrote to a bank asking it to freeze former billiards champion Michael Ferreira's account. Ferreira (75), who was questioned by the EOW for two hours on Tuesday, also deposited his passport.

A court hearing Ferreira's anticipatory bail plea had directed him to appear before the EOW between January 27 and 31.

The police said Ferreira holds 80% shares of Vihaan Direct Selling. "We want to know how he came in touch with Vihaan. He said he got commission by working for it," said an officer. When asked about his source of income, Ferreira reportedly said he wrote columns in newspapers and appeared as commentator on TV shows.

Police suspect that Ferreira was part of a binary scheme that started a business in India.

A PR firm, on behalf of Ferreira, said he responded to all queries and will continue to cooperate with the probe. "He maintained that the cheating and other charges against him are baseless. He is only an investor in Vihaan and had no executive role to play," the statement said.

Gurupad

In Reply to Goldie 5 years ago

Goldie u better do your f2 and attend the systems

gurupreet

5 years ago

Whistleblower protection refers to laws and policies meant to protect anyone who exposes alleged wrongdoing. The wrongdoing might take the form of fraud, corruption or mismanagement.
As of December 2013, India does not have a law to protect whistleblowers; however, Whistle Blowers Protection Bill, 2011 was approved by the Cabinet of India as part of a drive to eliminate corruption in the country's bureaucracy[1][2] and passed by the Loksabha on 27 December 2011.[3] The Bill is still pending before the Rajyasabha.

There have been multiple instances of threatening, harassment and even murder of various whistleblowers.[4][5]
An engineer, Satyendra Dubey, was murdered in November 2003; Dubey had blown the whistle in a corruption case in the National Highways Authority of India’s Golden Quadrilateral project.[6]

Two years later, an Indian Oil Corporation officer, Shanmughan Manjunath, was murdered for sealing a petrol pump that was selling adulterated fuel.[7][8]

A Karnataka official SP Mahantesh, said to be a whistle-blower in controversial land allotments by societies was murdered in May 2012. Mahantesh was working as Deputy Director of the audit wing in the state’s Cooperative department and had reported irregularities in different societies involving some officials and political figures.[9]

A senior police officer alleged that Mayawati's government was corrupt and had embezzled large amounts of money. Shortly thereafter, he was sent to a psychiatric hospital.[10]

Activists are seeking a quick passage of the Whistleblowers Protection Bill in Parliament. The demands are that a law should be framed to protect whistleblowers, facilitate the disclosure of information and uncover corruption in government organisations.[5]

The fight for passing of whistle blower protection act, Judicial Accountability Bill and other laws will continue...

https://soundcloud.com/hashiya/aye-bhagat-singh-tu-zinda-hai

https://soundcloud.com/hashiya/isliye-raah-sangharsh-ki-hum-chunen

Jai Jai Matram
Gurupreet

gurupreet

5 years ago

Hello Friends,

Is this the first time..that whistle blowers have been targeted by lodging false and bogus cases against them?

Even the court saw that no wonder i got BAIL within minutes.

The last time a young guy stood against QUESTNET in chennai he was put behind bar for approx 72 days...

Parents of One guy in North India were threatened that if his son did not keep quiet he would be arrested in false case filed by his ex-GF..

This was bound to happen and i was anticipating something like this..but the fight will continue..

Now i have been threatened saying false case of rape/molestation will be filed against me soon..

I am going to expose the corruption in oshiwara police station soon by sitting on a dharna in front of the police station..

Vande Matram
Gurupreet

REPLY

Goldie

In Reply to gurupreet 5 years ago

Dharna is a good idea. Maybe you can expose the fake FIR that they claim your father filed.

gurupreet

In Reply to Goldie 5 years ago

yes i am gonna go and sit and ask for a speedy investigation of the FIR against me :)

jitu moni

5 years ago

Go Guru Go...All, ex-IRs, are with you all the way.Just imagine, you have managed to make all the Grand Uplines scared and worried,in India and Dubai,even Chief Pathman is frowning in his video.The company falls foul of the direct selling legislation in India and IDSA have rightly denied membership to Qnet.

nitin

5 years ago

http://www.dnaindia.com/mumbai/report-qn...

gurpreet jisne case kiya hain qnet jaisi genuine ds company per aaj khud hi jail main hain,ye wahi log hain jo publicity chahtae hain,aur bina hard work kiye paisa kamana chahtae hain,ye wahi log hain jo chahtae hain ki ek brand ambassador like sharukh khan per company crore rs kharch kare aur waki public add dekh k product le le,jabki jismain mid class aur poor logo ko bhi opportunity mil rehi hain,product sell karne ki wo na ho,ye wahi log hain jo 50 paise ki pepsi rs 12 main bahut maje se pitae hain,jo 80 paise ki water botel rs 18 main bahut maje se khareedtae hain aur us product ko sasta bolte hain aur jo product realy gr8 hain,wo costely lagta hain,ye wahi log hain jo smoking aur drinking main lakho invest kiye hogae aur helth ko bhi nuksaan karwaye hogae,but jo helth ko improve karne wale product hain usko bura maante hain,aur pepsi,cigrate aur whisky ko achha maan k inko badhawa datae hain,ye wahi log hain jo fair & lovely laga k gore ho jate hain kyuki advertise aata hain,to gore ho ya na ho paisa investment theek lagta hain but jisse ek middle class comunity ko paisa distribute hota hain advertisement cost bacha k wo bura hain,
company sare tax deti hain aur sabhi law follow karti hain,import tax,vat,service tax income tax ager company galat hain to govt bhi galat hain,kyuki 35% money to govt hi rakh leti hain ismain product selling main kya govt wo paisa degi wapas jo tax main usko mila hain,

gurupreet

5 years ago

Now they are threatening to get bogus case of rape/molestation lodged against me :)

But these people forget one thing...

Satya Pareshan ho sakta hai!!
Parajeet Nahi !!

The fight will continue never the less...the corrupt police officers of oshiwara police station who collided with QNET will be exposed soon..

SCAM BUSTER

5 years ago

Elements have been trying to file false cases against those who have stood up to this fraud,these elements have proved beyond doubt the fraudulent antecedents of this outfit,there is no place for ponzu schemes in India,2014 wll confirm this once and for all!

REPLY

gurupreet

In Reply to SCAM BUSTER 5 years ago

Last time one guy like me had stood up against QUESTNET he was put behind bar for 72 Days..but he continued to fight and get questnet charge sheeted never the less...the fight will continue :)

Mohit Kalra

5 years ago

In any complaint what is most important are the facts behind the complaint, motivation of the complainant and then of course the credibility /mental state of the complainant.
For months now Gurupreet Singh Anand has claimed to be the saviour of the nation and is promoting himself as the vigilante trying to save the nation from foreign forces of capitalism (sic). And now what has happened yesterday clearly demonstrates the mental state /credibility of this person. He was arrested yesterday by the Mumbai Police for beating up his own father with an iron rod and then leaving him lying on the ground while his old father was bleeding profusely. Someone who beats his own old parents is in my opinion, lower than the scum of the earth and deserves the worst. This man is obviously sick in the head and needs urgent medical help, but that should happen after the police are through with him. Please note that the complaint against him was filed by his own father, who went with his daughter who is Gurupreet’s own sister to file the complaint with the Police. Imagine the level of their helplessness that they took the drastic step of filing a police complaint against their own son and brother in a country where parents have been known to defend their children for practically everything. Obviously it was not triggered by this one incident but was a result of years of depravation and craziness that they have faced at his hands. For Gurupreet there has been a long history of such incidents including many years of drug abuse. And this is the person who on this site, media and otherwise has been taking the high ground on morality and right vs wrong (sic sic).

This incident also begs the question to be asked that under what circumstances and pressure would his wife have been forced by him to re-file the complaint against QNet that she had withdrawn months earlier. We truly feel sorry for his family for what they have been going through for so many years.

And this incident would obviously force his backers who are using him as a front to revaluate their poster boy because they obviously missed their mark in choosing this Singh as the front for their attack on QNet. Guess, its time for them to find a new face who is willing to openly lie and construe imaginary tales on their behalf to malign and try and harm a great company. What say Madam… have you already had that emergency call with your backers for whom you are leading this front? Yes even Madam is a front! And of course now all the “insiders” and opportunists are also running and hiding and ditching the ship as they backed the wrong person.

Some hard questions my dear QNet detractors.... Time to run... Your so called Captain is not only a nut case but also can beat you up with an iron rod tomorrow... Get a life guys.... Seriously.... The party's over.... Today is Saturday, enjoy the weekend and get back to your serious jobs (if you have any) on Monday morning.... Desh hum bachaa lenge......

REPLY

gurupreet

In Reply to Mohit Kalra 5 years ago

tum QNETERS kae mooh sae Bharat Mata ka naam mat liya karo...tum sab Gaddar ho...

gurupreet

In Reply to Mohit Kalra 5 years ago

abbey MK aka Mocha..your turn is up soon..be ready :)

Sudeep Sharma

In Reply to Mohit Kalra 5 years ago

Dear Mohit,

Nice one ! I cannot comment on anybodies intentions bcz as per the wela peoples 99% India is Fraud. But if someone is in safe hands & working with clear intentions then this is the best place to work make sure we work with right people. People have been benefitted with this project & we r proud to be associated with it. As no employer will ever give us an opportunity to earn so much of income by doing real hard work & not just any Ponzi/pyramid schemes. The busters don't know business legalities they just talk to get popular without facts. So to all those who r against these kindly understand the business, its seriousness, hard work involved & your interest. Thumps Up for Hard work..................

George

In Reply to Sudeep Sharma 5 years ago

Dear Sudeep,

Read Carefully below... Is this business or trapping people to Sign up.

Below is the xcalling script what Qnet IR's ( Individual Representative)uses to lure their friends and family.... After all who will not get trapped if someone venry closer to you offer you a business which gives you 10 lakhs PM... Perhaps the highest paid CEO's dont get this.

Please Read it carefuilly and let me know where is ethics in this.


Prospect : So what are you doing these days??
IR: (say it with full enthusiasm) I have got something very good and I am very excited about it. I was looking for it from so long and now I have got it.
I was fed up of my job... Kab tak karta ??Ends meet ke liye kab tak ye struggle karni..
But now I have got my lifes plan in hand..
Prospect: What is it?
IR: I am partnered with a Malaysian based company and I am responsible for its global distribution (multiple business verticals). There we work on equal revenue sharing model and the best part is its on ecommerce platform.
There is a huge earning potential attached with this project. Basically the road map is of 4-5years wherein we work in 3phases
1st phase—is of 18 months, wherein we build our business along with our job and we start earning consistently approximately 2lakhs/month
2nd Phase—another 18 to 24 months and the earning potential goes upto 4-5lakhs/month
3rdphase—and the earning potential goes beyond 10-15lakhs per month.
Prospect: Sounds great

Shamsher Khan

In Reply to George 5 years ago

So what? I have received similar training to sell time share holidays. Are they frauds too? Every company teaches it's employees how to sell its products and services and get people to come on board. How is this any different?

Deepak B

In Reply to Mohit Kalra 5 years ago

?

George

In Reply to Mohit Kalra 5 years ago

Dear Mohit,

Neither I am an IR of Qnet nor do I have any connection with Gurpreet. Just that I am following the Blog for long. What you have written is not your calibre, how can you club two things together. Gurpreet beating his father and going jail is completely his personal problem and his wrong behaviour or act towards his family, however if he revealed about Qnet and way it functions he has helped many Indian not to fall prey to this Network Marketing.

I know we feel bad when someone hurdles our bread and butter as it bothers us, but at the same time is it not unethical to sign up people showing dreams of Mercedes, assurance to earn 3-5 Crores in 3 years etc etc.
I must share here, that one of my friend who fell prey to Qnet started writing his dream on wall at his residence, refregirator, bed room and everywhere except his own.
We all thank God for everything in life genuinely from our heart, don’t you thing qneters over do this ha ha I mean thanking God for seeing movie with family or buying school bags for the kids don’t you think it’s TOO MUCH.
Anyways now with Danish & Michel we will get to know what’s the magic wand they had to make Crores in few years.
I am still saying Gurpreet is done Sin tby beating his father but he is not wrong if he is reveal truth about Qnet’s working.

gurupreet

In Reply to George 5 years ago

I have not beaten any one..some one who agitated with Anna for so many years can not get violent against any one..forget his own dad..

Me, my wife and children are the victims of this corrupt system since last 5 years..and i will be exposing all documentary evidence soon...

Sudeep Sharma

In Reply to George 5 years ago

Dear George,

I Respect your thought, kiske mind mein kya chal raha hai no one can answer, If we start debating about the companies way of work not Qnet but any company in any sector. There are n Numbers of example where they have cheated people in one way or the other, but for we Indians sab chalta hai attitude let others to take advantage, people r now blaming kejriwal too that he is a wrong person & we have trusted him wrong. Who is right & who is wrong who can predict that believe me, even I am following this blog form so long & I know how companies cheat their consumers in terms of products, services, or promises etc..... But bcz we donot have any direct responsibility towards the customer so we don't bother I am getting my salary rest what company does is their headache. I have experienced this thing. That's is y I have been emphasizing that understand the business model in detail first, understand the way the business works, then when u r satisfied then get into any business but atleast give a thought to any model. I u have a product approach go to the site see the products purchase them, use them & be happy. Forget abt income source, that is what Gurpreet should have done. If ur intention is not to earn money then be happy with the products that too after you choose to buy for which there r n number of companies. Just question ourselves how well u know the operations of banking sector, how well do u know ur policies in details with each & every clause made known to you not only policies but credit card terms & conditions, loan terms & conditions, financial products details. If Qnet is fraud there would have been 1000's of complaints y only one. Even Michael is into some land scam & not Qnet business. so that is also a separate issue his personal problem. We cannot convince each other regarding any fact what we can do is to be good human being & earn so much that tomorrow when a doctor says that this operation will cost you lacs of rupees we do not consider it as a scam that is playing with peoples emotions while there loved one is sick & serious abt to die & then only person who can save them is a doctor asking money from you. Will Gurpreet help u there. Think about it...................

ramila

In Reply to George 5 years ago

well said...but makes sense to those,who do business with conscience & not with only motive of maximising self earnings by selling greed.n dreams of glamorous lifestyle.
lets keep the fight going....

Sudeep Sharma

In Reply to ramila 5 years ago

Selling products as status symbols, if u use u r clever else you r dump on this thought. smart people use smart products these are too greed making people think that they r inferior & they need to buy those products which will not earn them income or respect from others. Lets keep the fight going...........but in a positive manner. U r responsible for your earnings & expenses spend ur hard earned money smartly, don't go for glamorous lifestyle, help others from this money to create a life for them. Not to mention but the money I am earning foorm Qnet I have sponsored 5 poor girls who have no parents for their studies (Schooling) till 12th class. Believe me u choose ur own path....

Deepak B

In Reply to George 5 years ago

Agree. One must always support the cause and not the leader. If the cause is strong enough, leaders can change, because what is important is the mission. Unfortunately now qnet is using this to twist it completely for their benefit and gullible new IRs will think sympathetically for them. Meanwhile the main topic will get diverted. Sad.

Sudeep Sharma

In Reply to Deepak B 5 years ago

Deepak, I agree to you, earn money to spend wisely. with a good cause. I know I am a good human being, good son, good husband, & a good father..... What I am doing is for a good cause. Like Salman Khan who killed an animal & killed few people gone to jail but have also changed many childrens life by being human org......... even people have pointed fingers on this good cause. India is known for it..... We should all ASK. One act of random kindness that's how we change the world around us. Don't u agree...

jitu moni

5 years ago

http://www.business-standard.com/article...
The Economic Offence Wing of the Mumbai police today grilled actor Boman Irani's son Danesh in connection with the Rs 425-crore QNet case.

"We questioned Danesh and his statement was recorded," an officer from EOW said.

Complainant Gurupreet Singh Anand, who had filed an FIR against the QNet in August last year, had earlier approached Mumbai Police's Economic Offences Wing (EOW) with a two-page complaint giving the details of alleged links of Danesh with the scheme.

In the written complaint, he had alleged that Danesh promoted and propagated the scheme along with his father Boman, though according to police the actor is not the member in the scheme.

Mumbai police has also frozen Danesh's bank account, blocking his Rs 25 lakh.

The EOW has so far arrested nine team leaders of QNet for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

George

5 years ago

Hardeep,

You are looking too frustrated actually. Moneylife writes about Money not someone's personal fight at home... Are you amongst the frustrated lot if Qnet IR's who are not getting sign ups . Tuesdays are going big voids and no cheques bothering you.

Truth will prevail.

hardeep

5 years ago

A complainant of the multi-crore QNet scam case was arrested on Thursday for allegedly assaulting his 68-year-old father over a trivial matter.

The incident happened on October 31 last year but the police had been verifying facts before arresting Gurupreet Singh Anand, 40. The police said Gurupreet’s father Inderjeet Singh Anand runs a hotel and lives in Kamdhenu building at Lokhandwala in Andheri (W) along with Gurupreet’s family – wife and two children. “Inderjeet said the incident took place on October 31 last year when he saw his son wearing only his underwear. He reprimanded his son. Gurupreet then started abusing his father,” said a police officer.

This started a heated argument between the two. Gurupreet picked up an iron rod and started beating his father. “Inderjeet was profusely bleeding,” said the officer.

“We arrested Gurupreet following the complaint registered by his father, alleging that he had assaulted him over a property dispute. Gurupreet was remanded in judicial custody,” said senior police inspector, Nasir Pathan of the Oshiwara police station.

He was writing and making stories abt qnet is just because of money that is why his sole moto was to target big leaders and celebs... So that they fall in his trap , and shocking thing police is listening to this wicked person and has started insulting padmashree michel ferrera......

hardeep

5 years ago

Dear money life we want a full detailed article on gurupreet how could u forget him. When qnet ppl sneezes also there is an article why not for this rude human ... Its a bigger crime he has commited..where is the report
Regards
Ur reader

REPLY

gurupreet

In Reply to hardeep 5 years ago

I agree with Hardeep...money life should come up with a article regarding the registration of this offence against me after my fight against QNET started..

hardeep

5 years ago

Gurupreet shame on u .... The Oshiwara police on Thursday arrested Gurpreet Singh Anand, the complainant in the multi hundred cores QNet cheating case, for allegedly assaulting his father. The case was registered with the police in November last year. However, the police had been making inquiries in the case and finally they arrested Anand on Thursday. His father had alleged that Anand beat him up in the house and would have frequent fights with him. He was produced before the court and sent to jail custody....and lier calls himself desh bhakt who cannot respect his own parents.... Ppl had started blving in this person , the person whose parents also doesn hv blv in him.....shame on u

jack

5 years ago

where is Gurpreet ANAND NOW A DAYS.????? Is he arrested ???????

.http://timesofindia.indiatimes.com/speed....

George

5 years ago

Company says you could recruit 2 People to start with
Approximate turnover of 33000 Rupees is equal to 1000 BV. Let’s consider it 1 unit. For every unit sold by them you get 1875. Until you hit the weekly cap of 9.25 lakhs per week.

George

5 years ago

2013 40 GQI
21,050.00
2013 41 GQI 20,700.00
2013 42 GQI 10,350.00
2013 52 GQI 21,000.00
2014 1 GQI 11,500.00

Who will say no to this business??

siddharth

5 years ago

@ Gurpreet

i really appreciate the amount of effort you have put into this matter...well when you started all this i never thought a guy like you would do such things.. i am also a victim like you .. Drop your email id her.. i would like to help you ...
thanks :)

REPLY

hardeep

In Reply to siddharth 5 years ago

The Oshiwara police on Thursday arrested Gurpreet Singh Anand, the complainant in the multi hundred cores QNet cheating case, for allegedly assaulting his father. The case was registered with the police in November last year. However, the police had been making inquiries in the case and finally they arrested Anand on Thursday. His father had alleged that Anand beat him up in the house and would have frequent fights with him. He was produced before the court and sent to jail custody.

hardeep

In Reply to siddharth 5 years ago

He is in jail

siddharth

In Reply to hardeep 5 years ago

Well i've nothing to do with his personal life ... My problem is the one who introduced me to this chutiya scheme is a very good friend of mine but still i dont want to do anything with with him/her ..Bekar me Police k lafde me fas jaye koi meri wajah se mein chahta nai life spoil ho jaati hai ... waise ye log mahatma gandhi , nelson mandela se compare karte hai un IR's ko jo arrest hue mumbai mein ..

siddharth

In Reply to siddharth 5 years ago

Anything WRONG* sry

siddharth

In Reply to siddharth 5 years ago

Anything WRONG* << sry

Gurupad

In Reply to siddharth 5 years ago

I have. Lost 20 lacs to qnet and have given my details my ir I'd to gurupreet. My upline bought a bmw out of my and my family s money his name is Ashok sharma his vehicle number MH -8054 his close associates are his brothers Bharat sharma .gautam sharma all con men

George

In Reply to siddharth 5 years ago

Dear Siddharth,

While I really admire what Gurpreet has done so far and fighting by himself. Let me tell you that Qnet is no less than a Cancer and people involved in this are doing every possible thing to sign up. Meetings are still on may be in small groups and hidden. Surprisingly, some of them have deactivated their Face Book Account... God knows why. Perhaps their all snaps have one thing common “Two Fingers Making V".

karam

In Reply to siddharth 5 years ago

Connect with Guru on [email protected] or [email protected]

hardeep

In Reply to karam 5 years ago

The Oshiwara police on Thursday arrested Gurpreet Singh Anand, the complainant in the multi hundred cores QNet cheating case, for allegedly assaulting his father. The case was registered with the police in November last year. However, the police had been making inquiries in the case and finally they arrested Anand on Thursday. His father had alleged that Anand beat him up in the house and would have frequent fights with him. He was produced before the court and sent to jail custody.

hardeep

In Reply to karam 5 years ago

Connect with him in jail . He is in jail..... Ghar ka patta nahi desh samhalne nikla drugs khor

ramila

In Reply to hardeep 5 years ago

What kind of peesonnel vendetta is this..if you are finding smiles n relating qnet with his arrest in personal case...then u r a dreamer...case against qnet will continue...be assured...n guru will be out sooner than u think..so stay calm n enjoy till then

Gurupad

In Reply to hardeep 5 years ago

Hardick don't play your qnet games

jitu moni

5 years ago

http://indianexpress.com/article/enterta...
Mumbai Police issued summons to Bollywood actor Boman Irani’s son in connection with a case involving multi-level marketing firm QNet. Danesh Irani, associated with the Malaysia-based direct selling firm accused of duping investors, has been told to appear before investigators on Friday for questioning.

“We have summoned Danesh to appear before us on January 24,” Rajvardhan Sinha, Additional Commissioner of Police (EOW), told PTI.

Recently, EOW froze Danesh’s bank account, which had Rs 25 lakh. A scrutiny of Danesh’s bank account has revealed that about Rs 40 lakh had been received by him from QNet in 2013, police said.

Police wants to ascertain his role in QNet’s marketing schemes and commissions paid to him, among other things.

One Gurupreet Singh Anand, who filed an FIR against QNet in August last year, recently approached EOW with a two-page complaint giving details about Danesh’s suspected role in the case. Gurupreet has also alleged that Boman and former world billiards champion Michael Ferreira had participated in the company’s promotional events.

EOW has already issued a look out notice against Ferreira (75), QNET founder Vijay Eswaran and his three business associates after they failed to turn up for questioning despite being summoned.

EOW has arrested nine team leaders of QNet so far for allegedly duping investors by selling products like magnetic disks, herbal products and holiday schemes through fraudulent practises. QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978. QNet has denied any wrongdoing.

Questionable Net

5 years ago

Beautifully written by a former Qnet IR

I QUIT QNET.

Phone calls, BBMs, Whatsapp chats – these are the mediums used by my former fellow Qnetters to reach me and ask this question over and over… "Is there something wrong?" My reply to this was, "There is NOTHING wrong, in fact I feel GREAT!" What is wrong when I decided not to attend the meetings, Vcells, Systems and VCON, BTC, QSP events that they are holding? What is wrong when I decided not to spend money in paying for these activities? What is wrong when I decided not to buy their products just to qualify for their "so-called" prestigious stair-steps title (Bronze, Silver, Gold etc)? What is wrong when I decided not to waste my time on something that won't give me any real income? What is wrong when I decided to spend my time with my real friends again instead of loitering around till past midnight being motivated by these leaders for nothing? Is there something wrong about that???

I don't see anything wrong about this, and I don't see anything wrong about my decision. I think what is wrong is that I had not decided early enough. They could be bashing from that moment on that I was a quitter, a loser, a nobody (as they usually do to anyone who has the guts to walk away from their gang). Oh yeah, I am a quitter. I quit doing unnecessary things that eats up my time. I quit hanging around with people who have emotional and moral issues. I quit being deceived. I quit being used by other people for their own benefits. I quit being an embarrassment to people that I pestered randomly just to find for a prospect. I quit doing these crazy things but I want to make myself clear… I never quit on my dreams! I was far better reaching my dreams now when I liberate myself from MLM. MLM is not the key to reach your dreams. It's only the hype that keeps its members going. Motivational quotes of success that they keep on sharing just to project that they are wise. When the truth of the matter is they know nothing of how to manage their finances. Most of the leaders that I knew are swamped with huge loans and are having issues with their job because they could hardly concentrate with their responsibilities for this "business" sucks up all their time, energy and family life. It even reached to me that my upline was having a travel difficulty just because he's been passing up with his installments for his financial obligations. Uh-oh, someone's in a big trouble now! I wonder where all the income has gone. Or maybe the income was just another case of window dressing just to lure more prospects. Something is really wrong now. I think I'll drop him a message and ask, "Is there something wrong?"

Everything seems right when I decided to quit MLM and carry-on with my life. It was then I realised how much extra time I have in my hands. I could now spend time with my loved ones and friends and have a better savings on the side. I don't have to deal with difficult people and I don't need to make cold calls to random strangers. I have a sense of relief that I can have real conversations with people without trying to introduce them the business. I feel so unnatural whenever I do that! I don't need to pretend to like someone that gets into my nerves just for the sake of this "business". It is quite liberating. I feel free. I feel good!

Is there something wrong with me? Well, I feel sorry to disappoint them that I was doing GREAT than ever! All smiles :) - Akanksha

REPLY

George

In Reply to Questionable Net 5 years ago

Thanks Akansha,

For sharing your thoughts so beautifully. For me I started feeling as if I will lose my own identity.Alas I repeat and double you with your thougyt which you wrote so perfectly. " I feel so unnatural whenever I do that! I don't need to pretend to like someone that gets into my nerves just for the sake of this "business". It is quite liberating. I feel free. I feel good!"

SCAM BUSTER

5 years ago

http://ibnlive.in.com/news/mumbai-court-...

Mumbai Court orders Ferreira to return to India, join QNet scam probe

Mumbai: A Mumbai Court on Wednesday ordered former World Billiards Champion Michael Ferreira to return to India by January 27 and join the investigation in the Rs 425 crore QNet scam.
Ferreira has been granted interim relief till January 31 and asked to appear before the Economic Offences Wing (EOW) which is probing the case.
ALSO SEE Mumbai Police issues lookout notice against Michael Ferreira in Qnet sccam
He has also been asked to surrender his passport and not leave the country without the court's permission. Ferreira had applied for anticipatory bail.
Mumbai Court orders Ferreira to return to India, join QNet scam probe
QNet has been accused of using the banned binary-pyramid business model for their multi-level marketing schemes to attract investors.

The Mumbai Police Economic Offences (EoW) Wing had issued a look out notice earlier this month after Ferreira failed to turn up for questioning despite repeated summons.
QNet has been accused of using the banned binary-pyramid business model for their multi-level marketing schemes to attract investors. The company operated in India through its official franchisee Vihaan Direct Selling Private Limited.
Over 12 lakh investors in India are believed to have been duped by the multiple companies that have used Michael Ferreira's name.

gurupreet

5 years ago

Well written article on QNET, Please do read it and share it on Facebook/ twitter etc

http://in.news.yahoo.com/how-qnet-pulled...

Sandeep Patel

5 years ago

Grapevine says Danesh Irani has been engaged in QNET since 2006 so only 40 lacs is very surpirsing - maybe he was a poor performer. Grapevine also speaks of whispers of a compromise being discussed, amount under consideration ... being negotiated ... this seems to be in sync with the delay in return of MF and also the quiet regarding the LOC's ... the commission money continues to flow ...

To keep things in motion let us all submit multiple RTI's ... as per a Supreme Court directive ... in the event of a verbal directive from a ministry the concerned officer necessarily needs to maintain a documented evidence of the same

... the smart ones on either side would under understand ...

REPLY

gurupreet

In Reply to Sandeep Patel 5 years ago

40 lacs per annum or 40 lacs in 6-7 years ;)

I think it is 40 lacs in a year ;)

gurupreet

In Reply to Sandeep Patel 5 years ago

dont worry sandeep patel, these politicians and their PA/PS will be dealt with..there is GOD above watching all :)

Gurupad

In Reply to Sandeep Patel 5 years ago

So is Ponzi qnet coming up with genuine products

ramila

In Reply to Sandeep Patel 5 years ago

your grapevine seems highly correct...as all IR's say ,sab thanda hojaayega stay low for sometime , rise again

SCAM BUSTER

5 years ago

http://in.news.yahoo.com/how-qnet-pulled...

"Biophoton light," you are told, will energise liquids faster and more efficiently "via the wave-form produced" by a set of rings imprinted on the surface of a silicone rubber disc. This is a phenomenal 'Bio Disc' whose "flat-base" design allows a glass placed on it to be able to stand "more steadily than before". Just the very act of keeping your glass - full of water - on top of this remarkable disc makes it more harmonized, according to the marketing material at a company called QNet. "The Amezcua Bio Disc was introduced in 2006 as a revolutionary new product which redefines and harmonises the energy of water to maximise its positive effects on the human body. Over the years, numerous independent scientific studies have verified its effects and millions of satisfied customers have testified to the benefits of using the Bio Disc." You can supposedly use this "energized water" in any way to get its "health and lifestyle" benefits: drink it, spray it on yourself, or just place it under your bed at night.

QNet is now shrouded in controversy because, as some of you might have realized, the above claims are too fancy to be true.

But the deal is hardly about the product. Just like fairness creams are allowed to say that the level of skin pigmentation directly influences a woman's acceptance by her mother-in-law, or that certain forms of toothpaste can claim that salt will make your teeth whiter, saying what is not quite true is rampant in ordinary marketing. However, if you combine this with a particularly distasteful method of marketing - multi-level marketing or MLM - you get the combined impact of initial euphoria and eventual disappointment and anger.

MLM is about using your customers as your agents, instead of a traditional distribution network like agencies and wholesalers. The idea is that if your customers like a product, they can refer other customers, and when those customers buy, a referral commission can be paid, thus eliminating the middlemen. In addition, customers are sold the idea that they have to only do this in their spare time, and thus earn a steady stream of "recurring" income when their referrals buy. Those you refer can further refer others, and you form a long "downline" which guarantees you future riches.

This is good in theory. In practice, the kind of sustained effort that is required to sell goods to a large population makes such MLM companies take dubious shortcuts. Each person is required to maintain a certain number of sales every month to be in a "level", without which your benefits might lapse or fall to a trickle. Given that products are expensive, it is more lucrative to enlist new downlines than to get your existing network to buy more; so you spend your time hardselling the brilliant future income concept to unsuspecting friends and relatives. The hardsell eats up good relationships; you find that your friends no longer want to speak with you, and the few that were sold the idea are bitter that the income is next to nothing.

The first few people in such a scheme always make good money because they have the biggest network under them. QNet was no different, and had famous people like Michael Ferreira, India's former billiards champion and Padma Bhushan awardee, endorse and participate in the MLM scheme. The idea, says one article, was for each individual joining the network to buy Rs 500,000 worth of goods that were overpriced - so-called expensive watches, a pendant that aligned energies, a coaster that gave water magical properties and so on. When you buy, your "uplines" - the person that referred you, and his upline and so on - get upto 50 percent of your payment. And then, when you find a sucker who will pony up his five lakh, you get a good chunk of that as his upline, and so on.

The problem with QNet was that it ensnared people who were desperate to make such recurring income, but had to stretch themselves tremendously to make the initial payment. They did it on dreams of great riches that were promised surreptitiously by agents trained to mean exactly that, but not actually say it (because that would be illegal). After the initial euphoria, it dawned on many people that selling voodoo magic to a lot of people with the promise that a lot of other people would buy it is an unsustainable one - eventually, you have suckered all those who can be suckered, and the house of cards comes crashing down.

QNet managed to get to Rs 425 crore in size before it imploded. The company had in its earlier avatars of GoldQuest and QuestNet sold 'limited edition' gold coins at inflated prices, again as MLM schemes and on the premise that the coins would find buyers at even higher prices. These companies eventually closed down in 2009 and slipped out of the limelight, after many cases were filed by 'investors' who felt duped. QNet is just another avatar of a phenomenon that demonstrates exactly why some things are always too good to be true. The Singapore-registered company has already been banned by countries such as Saudi Arabia. Last August, the CBI's Economic Offenses Wing (EOW) finally registered a case against QNet for "duping thousands of investors by selling them plastic and glass products terming them miraculous objects for treating severe diseases like cancer." The Indian authorities are also supposed to be after QNet founder Vijay Eswaran, ranked by Forbes as the 25th richest Malaysian, but Eswaran has denied any involvement. This month, the EOW has issued lookout notices against 10 people, including Vijay Eswaran and Michael Ferreira. The latter has subsequently claimed to be stuck in Malaysia for "a few tests and medical treatment to address some of my long standing ailments and health issues."

You can't con an honest man. Most people who buy into the "dream" sold to them by QNet are those who want to earn a lot of money without doing any real work. They blindly believe figures of authority like Ferreira, or unreliable certificates by dubious "testing" centres stating the miraculous powers of what is just plastic. In many ways, a sucker is born every day, and companies like QNet just take them for what they're worth. It will be very difficult to establish guilt, and once QNet goes away, another silly scheme will come to take its place.

The best way to avoid being duped by a MLM scheme is to ask yourself:

- Are you expected to sell a product to other people? Do you need to pay for the privilege of signing up? If so, it's most likely a scam.

- Is there a refund policy? Can you return products unused to get back your money? If not, it's most likely a scam.

- Does it use the words "in your spare time"? My vast experience of hearing most of these sucker schemes tells me this is the biggest warning bell of them all.

- Can you buy alternative products that do the same thing at a much cheaper price? Then you're just being a sucker if you buy into a much more expensive product just to get a small commission back.

- Are you made to visit a "meeting" where a well-heeled gentleman extols the virtues of this scheme? And you can't ask too many questions? That's a sign of a scam.

QNet sells you many riches, if only you invest Rs. 500,000 and then find other suckers who do the same. The above criteria should sound warning bells, and like many other MLMs before this one, it makes you think more of the money you can earn with it rather than the benefits of the products themselves.

The lesson? It's always easy to mislead someone blinded by that kind of greed.

jitu moni

5 years ago

Read the blog of another normal soul turned Qnet Guru preaching this illogical, illegal and unethical business
http://thesolutionbaba.wordpress.com/

gurupreet

5 years ago

Cheap Pathman SameShit-Raja had in videos messages spoken about more "Media Focus" since nothing came forward from Qnet...here is a little bit of more contribution from our side...

Enjoy Q ;)

Bank accounts of Danesh Irani son of Boman Irani FROZEN for indulging and promoting the illegal money circulation scheme of QNET.

It is a message to the remaining active IR,s of QNET, tomorrow your homes, cars and assets will be frozen...give up the SCAM NOW !!

http://timesofindia.indiatimes.com/india...

http://www.dnaindia.com/mumbai/report-qn...

http://freepressjournal.in/daneshs-accou...

http://indianexpress.com/article/india/i...

http://indianexpress.com/article/cities/...

http://www.deccanherald.com/content/3803...

http://www.financialexpress.com/news/rs-...

http://news.outlookindia.com/items.aspx?...

http://timesofindia.indiatimes.com/india...

http://articles.timesofindia.indiatimes....

gurupreet

5 years ago

QNet scam: Cops freeze Danesh Irani's bank account

MUMBAI: Mumbai Police, probing the alleged role of Danesh Irani, son of actor Boman Irani, in the Rs 425-crore scam allegedly spearheaded by a multilevel marketing firm QNet, has frozen his bank account, blocking his Rs 25 lakh, a senior police officer on Monday.

The bank account of Danesh has been frozen, the officer told PTI adding that, "Two fixed deposits were linked to his bank account. Cash and FDs collectively valued at Rs 25 lakh were found in the account."

The scrutiny of Danesh's bank account revealed that about Rs 40 lakh had been received from QNet (over a period of time) in 2013, the officer added.

"We are verifying to ascertain as to what sort of job he had performed, for which the QNet paid him about Rs 40 lakh," the officer said adding that Danesh would be summoned soon.

Complainant Gurupreet Singh Anand, who had filed an FIR against the QNet in August last year, has recently approached the probing agency, Mumbai Police's economic offences wing (EOW), with a two-page complaint giving the details of alleged links of Danesh.

Gurupreet has also alleged that Boman Irani and former world billiards champion Michael Ferreira had participated in the promotional events.

Gurupteet had claimed that he shared Danesh Irani's QNet membership details with the investigators and his account had shown that he carried out Rs 18 crore worth transactions and because of which he received substantial amount of commission.

The EOW has already issued a look out notice against Ferreira (75), QNET founder Vijay Eswaran and his three business associates after they did not turn up for questioning despite the summons served to them.

The EOW has arrested nine team leaders of QNet so far for allegedly duping investors by selling products like magnetic disks, herbal products and holiday schemes through fraudulent practises.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The accused were charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

The Malaysia-based MLM firm has denied any wrongdoing. The lookout notice is a circular issued against a person when he/she is wanted by police either for questioning or for the purpose of arrest in any case.

It is circulated at all immigration checks at international borders (like airports/sea ports) and as soon as the person is spotted, the authorities concerned are notified.

http://timesofindia.indiatimes.com/india...

gurupreet

5 years ago

Actor Boman Irani's son to be summoned in QNet case

MUMBAI: The city economic offences wing (EOW) officials said that actor Boman Irani's son, Danesh, received commission from QNet, a private firm, and that they would summon him for interrogation soon.

The EOW is probing a cheating case against QNet, a multi-level marketing firm. Last week, Gurupreet Singh Anand, the complainant in the case, filed an application with Rajvardhan Sinha, additional commissioner of police (EOW), urging the police to probe the role of Danesh and his father.

"Danesh has been active in QNet since 2006-07," said an investigator. The police have frozen the firm's independent representatives' (IRs) bank accou- nts that contain more than Rs 120 crore. Sinha said his officers were collecting more information about the other accused.

The police last week issued look-out circular against several persons in the case, including Michael Ferreira, winner of the World Amateur Billiards Championship and a Padma Bhushan recipient, Vijay Eshwaran, Dev Wadhvani, Sachin Gupta and Srinivasrao Vanka.

QNet's public relations firm did not respond to TOI's queries.

Ferreira (75), a shareholder in the Indian franchisee for QNet-Vihaan Direct Selling (VDS), through an email communication to his PR company, said, "I have been in Malaysia for a few tests and medical treatment to address some of my long-standing ailments and health issues. I have spent most of my life building my reputation and serving India on various platforms, including sports and public service, so I find it ridiculous that anyone would say that I am trying to avoid or run away from my responsibilities and from cooperating with the EOW." He did not mention any date for his return. The email said Dev and Sachin never received summons; they are IRs of QNet in Hong Kong and Dubai.

http://timesofindia.indiatimes.com/city/...

Comment: EOW should also follow up and investigate Boman Irani including other influential people for promoting this illegal money circulation scheme. I know there is immense pressure on the EOW but still this is the time to stand up and support our nation then to fall into these pressure tactics of traitors of India.

jitu moni

5 years ago

Complaints are pouring in, a fact accepted even by ACP Mumbai Police. Read his interview and a dashing filmi blowup of Guru :-) http://www.mid-day.com/news/2014/jan/030...

karam

5 years ago

SHOCKING AND VERY DISTURBING !!!

http://www.consumercomplaints.in/qnet-qn....

To Consumer forum, Kindly request you to look into the below matter The Incident that happened with me was regarding the business that girl named Deepali Bhatnagar contact no -9923040002 from Pune, Deepak Chauhan contact no -09716199230 from Delhi and Devesh Maheshwari contact no-09716040608 from Delhi were doing. Deepali told me that, she is doing an E Commerce business. I asked for a bit of details from her. She took me to her senior partner, named Sameer at CCD. When i asked about the business, they mentioned that “it is an e commerce business. Hence by paying money I will be buying 3 shares of the company named Q.Net and i will be a partner”. They said ” I will get a technical code, which i can circulate amongst my friend & relatives circle and whenever they will shop, i will get the 10% of the total amount and whenever I wish I can go for cancellation and I will get my complete money refunded back. As they were pressurizing me to close the position I gave them rs.194729 which was my 3 years saving. I gave them payment in 3 installments. Rs.10000 for registration in July rs.140000 on 11th Oct and rs.44729 on 31st Oct. They ordered products for me without my consent. I told them I need some time to think on the product however they ordered without my consent. The products were QVI Silver Holiday Package. When this Holiday package came to my home, I was shocked to see, that the package also needs yearly renewal fee. After 1 week of making full payment I was in need of urgent cash hence I asked her to cancel my application and Refund my money as I have not signed any form and nor did I ask for any products. Since that day her behavior changed and she became rude with me.. Later I came to know it is Network marketing and I have to make partners to start making money. Than they told to make a name list of people whom i know Minimum 150 names. They explained that our name list should exceed by 10% every month, means we have to make new friend to make business partners. etc etc. Since November month I am asking these guys to return my money but they were ignoring me. Also I called up customer care lot many times but they are also not helping to solve the issue. Then I realized that something wrong has happened with me. According to me, this is not a right or ethical thing that was happening with me. Whatever they were teaching me, was not at all convincing for me. My ethics doesn’t allow me to do anything wrong and lie anyone for money. She provided me a code (IR id –IN081345), when I logged into the account and checked there was not even 1 rupee in my account and no details of product purchased. I have not signed the registration form also. They were not providing me the payment receipt hence I requested payment receipt from company. When I received the receipt I came to know that payment was made in USD from a credit card from Dubai, with my residential address in Hong Kong and with different email id. The transaction is not done in ethical way. I had made the payment in INR Indian rupees through internet banking. I have been cheated because i saw that they are teaching me ways to make people fool and get the money from your own friends & relatives. i found it completely unethical. The people, who are called Up Lines, listen to every call. They listen to calls to know what are we talking about, as we are not supposed to say a single word without their permission. They want me to get people on the table to see this business plan, and immediately pay them money. The products were sent to me without my permission or consultation. I felt my money has been wasted unnecessarily. On sheer trust I gave money. Because I can’t lie or break anyone’s trust hence I didn’t even made a single partner in this business. I would like to get my money back so that I can live my life peacefully. Note – Product is unused. Looking forward to hear positive response at the earliest and also thankful to you for understanding my concern. Regards, Parvi 9545373803

SCAM BUSTER

5 years ago

Boman Irani in Qnet scam

http://m.youtube.com/watch?v=9bWdIt1XXNY...

REPLY

Gurupad

In Reply to SCAM BUSTER 5 years ago

Nothing really matters any one can see nothing really matters to me
As long as the money keeps pouring on me
Any way the wind blows .... Queen

Gurupad

In Reply to Gurupad 5 years ago

Bowman Irani the wafer vendor

gurupreet

5 years ago

There are seven types, colour-coded by their function: red, blue, green, yellow, black, orange, and purple. The most well-known notice is the Red Notice which is "the closest instrument to an international arrest warrant in use today."[2][3]

An Interpol notice is an international alert used by police to communicate information about crimes, criminals and threats to their counterparts around the world. They are circulated by Interpol to all member states at the request of a member or an authorised international entity. The information disseminated via notices concerns individuals wanted for serious crimes, missing persons, unidentified bodies, possible threats, prison escapes and criminals’ modi operandi.[1]

Source: http://en.wikipedia.org/wiki/Interpol_no...

REPLY

MOHAN

In Reply to gurupreet 5 years ago

Will Ferreira automatically loose his ‘Padma Bhushan’ on account of red-corner notice issued against him by the Police? If not, what is the legal position regarding Michael Ferreira’s “Padma’ title since he is an absconder.

gurupreet

5 years ago

Mumbai cops move court to issue red-corner notice against Michael Ferreira in land-grab case

Matters seem to be getting worse for former world billiards champion Michael Ferriera, with the Gorai police moving the Borivli metropolitan magistrate court to issue a red-corner notice against him. This type of notice is issued by international authorities like the Interpol.

A case of alleged land grabbing has been registered against Ferriera and a few others at the Gorai police station. Earlier this week, the Economic Offences Wing (EOW) of Mumbai police issued a Lookout Circular (LOC) against Ferriera after he failed to appear before them for questioning in the Rs425-crore QNET scam.

According to the police, in June 2013, the Gorai police received a complaint against seven people, including Ferriera. “The complainant has alleged that Ferriera had reportedly prepared a fake power of attorney for a plot of land (belonging to the complainant) in Gorai in 2000. In 2011, Ferriera reportedly sold the plot of land to a builder for a mere Rs11 lakh, even though its market price then was close to Rs2.5 crore,” said investigating officer Gokul Patil of Gorai police station.

After preliminary investigations, the police concluded there was a prima facie case made out. “Following this, we registered a case of cheating, forgery and land grabbing against seven suspects. So far, we have arrested two people in the case. Out of the remaining five suspects, one is dead and we are on the lookout for four others, including Ferriera,” Patil said. The Gorai police registered an FIR in the case on November 25, 2013.

Patil further said that despite sending summons, Ferriera failed to appear before the police for questioning. “During investigation, we found out that Ferriera had left the country in August 2013 and hasn’t returned since,” Patil added.

Fearing that Ferriera is deliberately not returning to the country in an attempt to scuttle investigations, the Gorai police moved the Borivli metropolitan magistrate’s court in the last week of December for the issuance of a red-corner notice against him.

In a span of a few days, there have been two notices invoked against Ferriera. “An LOC is issued by Indian authorities. However, a red-corner notice is issued by international authorities like Interpol,” said senior criminal advocate Sayaji Nangre.

“We are awaiting orders from the Borivli court. Then, we will move the higher authorities,” Patil said.

The complaint
According to the police, Cyril Henriques, a resident of Gorai, had alleged that his mother, Shera Mary Henriques, had bought the property in Kulwem village from Ferreira’s grandfather for Rs450 in 1935. The land was surrendered in 1953 to the complainant’s mother as per government records. Also, Ferreira’s father had given a no-objection letter regarding the same to the tehshildar in 1985.

Read the complete story here: http://www.dnaindia.com/india/report-mum...

REPLY

MOHAN

In Reply to gurupreet 5 years ago

Will Ferreira automatically loose his ‘Padma Bhushan’ on account of red-corner notice issued against him by the Police? If not, what is the legal position regarding Michael Ferreira’s “Padma’ title since he is an absconder.

gurupreet

5 years ago

Pyramid Schemes are started by white collared criminals..

Spread by people who are failures in real life,,,

And accepted by common people who fall prey to the con schemes :)

REPLY

Is It legal

In Reply to gurupreet 5 years ago

Good reply Gurpreet :-) today all IRs are circulating this proverb about rumor.. They think these are rumors spread by competitors and EOW is stupid enough to accept it.. Hahaha :-)

Jagadeedh

5 years ago

Rumours are carried by Haters
Spread by fools
And accepted by idiots(:

REPLY

karam

In Reply to Jagadeedh 5 years ago

E Bhai ... apna IR ID dena pls ... moron kise bolte hain EOW batayega ...

Jagadeedh

In Reply to karam 5 years ago

What do u with my id dear

karam

In Reply to Jagadeedh 5 years ago

IR ID pls...

Jagadeedh

In Reply to karam 5 years ago

I know how to face the challenge bro. I dont need any help dear .I dont want success
Without challenges .
I want challenge like this then only kick comes my dear friend

karam

In Reply to Jagadeedh 5 years ago

IR ID pls... mazaa ayega ... phone number ... address and other details too ... share it now ... dont go Farara ...

Gurupad

In Reply to Jagadeedh 5 years ago

Where is cheap pathman

Jagadeedh

In Reply to Gurupad 5 years ago

U wana c him
Very simple dear go to youtube check it bro. U will find his vedios.
C and njoy Mr gurupad

Gurupad

In Reply to Jagadeedh 5 years ago

Keep watching the cheap chicken on YouTube for inspiration and do one on one at home

gurupreet

In Reply to Jagadeedh 5 years ago

Pyramid Schemes are started by white collared criminals..

Spread by people who are failures in real life,,,

And accepted by common people who fall prey to the con schemes :)

Questionable Net

5 years ago

ISSUED IN PUBLIC INTEREST!!!

Click the link - http://qnetexposed.com/deceptive-marketi...

Almost everything you’ve ever been taught about building a network in QNET Is pure BS!

Allow me to illustrate by exposing some of the blatant lies told by senior partners to gullible new prospects and IRs.

As I was compiling this list, I was trying to think of which lie was the worst. The one that was absolutely the most detrimental business advice. The one that topped ‘em all as the “whopper of all whoppers.” I tried to narrow it down, but I just couldn’t bring myself to select a definite winner. They’re all so bad.

I’ll tell you though, this one was a serious contender for the title – “Everyone is your prospect!”

A similar version of this lie is, “Everyone wants this, they just don’t know it yet!”

The Lies

Everyone is your prospect!
This isn’t selling; we just share this amazing business opportunity.
Anyone can do this!
We’ll build your business for you.
We have the best product ever!
You don’t have faith.
It’s a Completely Ethical Business.

to read further - click http://qnetexposed.com/deceptive-marketi...

Sudeep Sharma

5 years ago

When My boss harasses me everyday & after years of hard work they say that I am an as****e I am worthless at that time where are these samaj sudharak sanstha's who r warning people to be safe from such pyramid schemes. I have met with many people who have joined such schemes with a lust of money thought & left with in 3-4 months time. And the word of mouth spreads hat they tricked us. What r u talking about man? Wake up & smell the coffee!!!! The funda is simple here you work you get paid as in your job u work else u r fired. If u don't work & u want to be a millionaire that's not possible. That is y these schemes are rated scams but let me tell u I am a part of this business. And I am earning more than my job........

REPLY

jitu moni

In Reply to Sudeep Sharma 5 years ago

Well Qnet is in direct selling business...so sell products nah..chuck your daily plans...like it or not..Rajasthan has come out with the legal guidelines for MLM..
http://rajind.rajasthan.gov.in/MLM_Notif...

George

In Reply to Sudeep Sharma 5 years ago

Hello Sudeep, while I am IR Myself but one thing I realize that business grows only when you sign people under you and someone under him/her further down and down and down. Money comes in abundance just because commission is great, but for once you or anyone in this business realized that how unethical is this when IR's talk about changing life, 5 crores in 3 years and luxurious cars. Trust me I have seen core leaders, big IR's and so on who are claim to be big in this business roaming city to city in Maruti Swift. You people on the verge of giving support take 2-3 lakhs from a person and start follow SOP's which are hard to digest while calling your near and dear ones. I have done all that and felt measurable.
Today all those people have stopped speaking to me or they call me to ask if Michael F is actually wanted. My wife is asking me to get the money spent on this business. My CHAIROS Watch is just like a prop in my house as every time I see this watch I call myself FOOL in BOLD.
I am a successful in my job and I haven’t faced any situation or performance where people are fired from the company I am working. I am not sure if you are in Telecom industry as they are the people who get firing and look for making quick bucks by playing with emotions.
Go to one system (In am sure you must be attending). I see people who failed in their career opt for this business and when I see in their eyes I feel ohhhh one more guy fall prey to this fooling game...
EMPTY YOUR CUP as the short earned money may get you a better car but you will always remain like a tout all your life......

Sudeep Sharma

In Reply to George 5 years ago

Dear George, first of all thank u for sharing your thoughts in a much more matured way/language & in the right manner. I truly agree to your thought. Look if we talk abt any traditional business there's a co. its products & services, its system, there r sellers & buyers & the employees work to increase the sales of these products & services then only any business will survive. There is nothing personal in this. you go to the market & talk with the dealers only problem they face is payment that the material was on credit. Now recovering those payments is a big hassel but here the payment is upfront so no cash inflow problem in co operations. You take any aspect of traditional business & compare logically with this one you will see this is a much more successful business model. Fact is what we are doing is we r getting customers for the company in lieu of getting paid as commission & that the new customer is offered the opportunity if he wants to earn money in the same way. that is completely individuals choice.
And that is a proven fact that when people come along with each other the power & energy is huge. I am from electrical industry in international marketing. Let me tell u things r not in the manner they seems to be. My products are technical in nature you can make fool to someone only once not again & again. But I am not here to make my customer feel fool. I have a strong value system & I know that I am a good human being. I am not here for a get quick rich scheme bcz I have understood the business in much more deeper terms & I am here to create wealth for me by doing hard work & not just buying luxurious cars. When u earn money u spend it wisely & I am wise enough not to spend my hard earned money on some thing which is just a status symbol. Rather I would like to invest my money whatever earned in this business in real estate & create my wealth.

You need to present this business not in terms of greediness for money but offer the opportunity to those who are responsible enough, serious in earning money & creating wealth as we all are getting choosed in our job through a kind of interview process not everyone can be an employee in the same company right?

I also know bcz of some people this model is not accepted easily. As the co owners cannot control ur tongue & thoughts shared with ur prospects. This decision is mine & I have taken the risk & ready for the hard work to earn money. I am making someone rich by doing a job. so y not earn a bit higher for my life to be good.

also, this industry grows faster so some people cannot see others success so they try to hamper the system. I know my risk & I have diversified the same, my finances are not dependent on one model only, they r diversified & I suggest the same to those who join me. I take care that they donot commit wrong things, they work as a team in a professional manner & also correct them if they r on a wrong track or in a wrong direction. No one has to force anyone to join just share & let them decide.

Look in the end I would only say you have to work for your earning in your job & same is the scenario in this model. The correct information is that you need to work. no shortcuts. Now you decide as you are responsible for your own actions & so am I. Happy earning ! & be in safe hands.

jitu moni

In Reply to Sudeep Sharma 5 years ago

If your company asks you to only search for distributors without selling products directly to the public i.e. by giving your IR ID to people who can log in and making a purchase after you give them a product demo, then it is a money circulation.Read http://www.fdsaindia.org/pdf/Ministry-of...

jitu moni

In Reply to George 5 years ago

Brother no need to curse yourself..Lot of Smart people, read victims, have been sulking for signing up..some dont even know that they are in d biz..So Get involved..atleast virtually..email a complaint to [email protected]..write a love letter to Mr.Kapase – Investigating officer (QNET),
Economic Offences Wing -3,
Crime Branch, Mumbai Police,
Police Commissioner’s Office,
Opposite Crawford Market,
D N Road, Fort,
Mumbai 400 001.

Gurupad

In Reply to Sudeep Sharma 5 years ago

Yes greedy moron keep on doing f2 without ethical goods and services and become steve jobs

Jagadeedh

In Reply to Gurupad 5 years ago

Thanks for advise bro

Sudeep Sharma

In Reply to Gurupad 5 years ago

I take that as an compliment. bcz discussing on this platform is worthless as to post this comment money life first signed me up & then allowed me to post this comment & requested to invite my friends & my dear Gurupad this is Pyramid scheme which they r also part of only thing is I get nothing paid if my friends join Money life & become a money lifer.. Also, what we r doing is much more ethical that ur traditional business model where even Media is controlled by someone to show or not to show any news......... Keep doing what u do & become politician to eat India....

Gurupad

In Reply to Gurupad 5 years ago

Steve jobs was a marketing pioneer not like your fat o sri

Sudeep Sharma

In Reply to Sudeep Sharma 5 years ago

Also talk about any business model including politics, what r these pyramid schemes & here people r more framed & getting looted by the business owners as they are earning highly from the business for their own good & that is y rich is becoming richer & poor is becoming poorer. Tell me y some business houses will like this thought that people can earn money on a higher side & reach to their level where they r living a lavish life which we can only dream of. Ambani's new house worth 200+ crores of rupees for whom just 4-5 members of the family. They mold the policies in relation to the govt. to get maximum benefits...........what is this all scam. 50 people sitting in an economy class of a plane & everyone paying a different amount to buy the same ticket this is scam......... Price war in the market between distributors & retailers the same product is priced at different rates in two shops adjacent to each other. this is scam.... Auto rickshaws charging highly to passengers this is scam...... Medicines which r banned in Europe or US are sold here on high price this is scam...... U people need to write or reveal on these topics rather than stopping those who are running an MLM company & offering people to earn form that model. Govt will never give us money to achieve our dreams rather they will take away form us everything but we have to work for it & if we r getting this opportunity from any MLM company we should grab it. Else tomorrow Govt will apply a new tax on people of India & we will have to pay that as that is socially acceptable. I am working hard from the last 7-8 years in my job & I am not able to buy a 2 BHK bcz it costs in Delhi around 50-60 Lacs from where can I earn this much of amount. So what ever u do believe in that & change ur life & others for Good.....

Gurupad

In Reply to Sudeep Sharma 5 years ago

Why don't u form a team and do some ethical biz

Sudeep Sharma

In Reply to Gurupad 5 years ago

If u have any idea plz do share with me I will love to start such a thing. Only thing is when we grow together & people point on our growth we need to be ready for such articles & aligations...

Jagadeedh

In Reply to Gurupad 5 years ago

Plz give me best business Idea
I will follow my friend.
Me and Sandeep work together.
When u share the idea ?
We r wating dear take one week give me the best
Dont forget my dear we r wAting

SCAM BUSTER

5 years ago

http://www.dnaindia.com/sport/report-fir...

In more trouble for Michael Ferreira, the former world billiards champion has been booked along with six others for allegedly cheating a senior citizen by selling his property using forged documents.

"Based on a complaint filed by one Cyril Edmond Henriques (87), an FIR was registered on November 13 last year against Michael Ferreira, his four relatives - Peter Dominic Ferreira, Josh George, Mark Ferreira, Peter Herrence Ferreira (who is dead now) - and two builders Manish Agrawal and Sanjay Agrawal (the buyers of the property) on charges of cheating and forgery," said Deepak Bagawe, Senior Inspector of Gorai police station.

They have been booked under Sections 419 (cheating by impersonation), 420 (cheating and dishonestly inducing delivery of property), 465 (forgery), 467 (forgery of valuable security), 471 (using as genuine a forged document), 474 (knowing it to be forged and intending to use it as genuine), 447 (criminal trespass) and 120 (B) (criminal conspiracy) of the IPC, he added.

Police is now preparing to issue a "lookout notice" against the former sportsperson.

75-year-old Ferreira, who is also wanted for questioning in connection with Rs 425-crore scam allegedly spearheaded by a multi-level marketing firm QNet, has been dodging a lookout notice issued recently by Economic Offences Wing (EOW) of Mumbai Police.

According to police, Cyril had approached cops alleging that Ferreira sold his one acre plot in Malad to two builders, (who are cousins) for Rs 11 lakh, using forged documents some years ago. The value of the plot was estimated to be over Rs two crore when it was sold.

Cyril, a retired employee from Larsen and Toubro and resident of Bandra, claimed that his father Elias Cosmos had bought a one-acre from Ferreira's father at Gorai in Malad in 1935 for Rs 450. Elias had purchased the property in the name of his wife, Shera Merry Henriques.

Cyril's parents are dead now.

Realising a lot of unusual activity on his open plot, Cyril approached police at Gorai which conducted an enquiry following which an FIR was registered against Ferreira, his relatives and two builders last year.

"Ferreira is wanted and we are preparing to issue a Look Out Notice (in this case)," Bagawe said.

Ferreira, who is believed to be abroad presently, is also facing heat from EOW in connection with the case of QNet, which has been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The lookout notice is a circular issued against a person when he/she is wanted by police either for questioning or for the purpose of arrest in any case.

It is circulated at all immigration checks at international borders (like airports/sea ports) and as soon as the person is spotted, the authorities concerned are notified.

gurupreet

5 years ago

Hello Friends,

After Vihaan and Vanamala...

Transview office shut down...sources reporting a "To Let" board outside the Transview office..

This is FUN...

Happy New Yea Q..

Regards
Guru

REPLY

jitu moni

In Reply to gurupreet 5 years ago

Even their blog kyunqnet.com has been running cold since last september after a lot of hot outburst against Guru..

karam

5 years ago

Granddaddy trying Hong Kong citizenship .. partied in Dubai ... vacationed in Mauritius...

http://indiatoday.intoday.in/story/qnet-...

REPLY

Yashraj Singhania

In Reply to karam 5 years ago

Hahaha now Michael Ferreira will say that India doesn't respect its sportsmen who brought such great pride to the country, India doesn't support and protect its "entrepreneurs" etc etc.

gurupreet

5 years ago

Dear Friends,

It is HIGH time we all used the power of Social Media to further this fight and take it to its LOGICAL END.

I have formed a group on Facebook for the same, all are requested to join on this face book group and help us..the link is below...

https://http://www.facebook.com/groups/595539437159058/

After joining you all are requested to share the articles already posted there and also invite your friends to join this group,so we can provide some help to the victims and prevent others from falling into this SCAM..

Do Join in :)

Jai Jai Matram
Guru

REPLY

Jagadeedh

In Reply to gurupreet 5 years ago

Joining in the sense scam right how u ask like this r u doing any scam business bro
Hahaha just kidding

Jagadeedh

In Reply to Jagadeedh 5 years ago

Gurupreet dont take it to heart
Hahaha

Gurupad

In Reply to gurupreet 5 years ago

Thank you gurupreet

gurupreet

In Reply to Gurupad 5 years ago

welcome please make every one join the group :)

gurupreet

5 years ago

http://www.mid-day.com/news/2014/jan/040...

After QNet fraud, Michael Ferreira embroiled in Gorai land scam..

An 87-year-old Bandra resident filed an FIR against him in November, for allegedly forging documents to sell off a plot that belongs to the complainant

Padma Shri and Padma Bhushan winner Michael Joseph Ferreira has been booked by Gorai police in Malad for allegedly forging land documents. Nicknamed ‘The Bombay Tiger’, the former three-time World Amateur Billiards Champion is also busy dodging a lookout notice issued by Mumbai police’s economic offences wing (EOW) in the QNet scam case.

On November 25, 2013 Cyril Edmond Henriques (87), filed an FIR (copy available with MiD DAY) against Michael Ferreira, Peter Herrence Ferreira, Peter Dominic Ferreira, Josh George, Mark Ferreira, Manish Babu Agrawal and Sanjay Satyanarayan Agrawal under sections 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property), 465 (forgery), 467 (forgery of valuable security), 471 (using as genuine a forged document), 474 (knowing it to be forged and intending to use it as genuine), 447 (criminal trespass) and 120 (B) (criminal conspiracy) of IPC. Ferreira has also been accused of selling a piece of land for Rs 11 lakh, though it’s then market value was Rs 2.44 crore.

“We have booked Ferreira in a documents forgery matter. He is wanted. Since registering the FIR, our team has visited his residence thrice, but he is not traceable,” said Deepak Bagawe, senior inspector, Gorai police station. Police sources say Ferreira could be in Mauritius.

A retired officer from Larsen & Toubro, Henriques is a resident of Hill Road, Bandra (West). His father Elias Cosmos Henriques had bought a one-acre or 30 guntha plot (survey no 95, corresponding CTS company 110, 111, 112, 116, 117 and 3192) from Ferreira’s father in Gorai, Malad in the year 1935. Elias had purchased the property in the name of his wife, Shera Merry Henriques, for Rs 450 only. He died on May 24, 1940 and Shera on October 1, 1985.

In 1995, Cyril Henriques discovered that someone had started illegal construction on the land. He complained to Brihanmumbai Municipal Council (BMC), and the structures were demolished. Later, Henriques came to know that Ferreira had sold the land, pretending to be its owner. Following his complaint, police started an investigation and found that Ferreira had forged the documents.

Even on February 8, 2000, during preparing the “irrevocable power of attorney” Ferreira had shown that his brother Peter Dominic was present, and had signed on the paper. On that day, Peter was in Canada. On the basis of the alleged phony documents, Ferreira sold the plot to Manish Agrawal and Sanjay Agrawal for Rs 11,00,000, though the land’s market value then has been estimated to be Rs 2,43,60,100.

Read the complete story here...

http://www.mid-day.com/news/2014/jan/040...

karam

5 years ago

Look up

http://www.zauba.com/director/DARYL-PATR...

one of the Director's of Vanamaala and you see that he is also the Director of Bonvo Travels ?

Yeh Bonvo travels kya hai ?

http://www.zauba.com/company/BONVO-TRAVE...

Google up the public profiles of the Directors of Bonvo and enjoy ....

REPLY

sumit

In Reply to karam 5 years ago

thanks, your info is helpful

Gurupad

In Reply to karam 5 years ago

We are a closely knit joint Hindu family of 50 cousins my cousin got few through hot signing us and then projecting to get everyone financial freedom
Wish I knew his intentions
Raise yourself then neglect downlines mankind only f2 on his mind
Does all this make sense to a biz activity

gurupreet

In Reply to Gurupad 5 years ago

please email me the details on [email protected] :)

jack

5 years ago

who r those ten please tell the name other sources saying only 4....wht is truth...??????

REPLY

ramila

In Reply to jack 5 years ago

atleast try n solve issue of the 4 u have read about,,,then be curious for the others..

happy qnetting..

karam

In Reply to jack 5 years ago

Raise an RTI ... sab milega ...

jack

In Reply to karam 5 years ago

yaha tho bin mage he sab milta hai fir RTI ki kya jarrurat hai......

Is It legal

In Reply to jack 5 years ago

whats your point.. sarcasm or appreciation??

Questionable Net

5 years ago

BE CAREFUL!

http://qnetexposed.com/warning-signs-don...

ISSUED IN PUBLIC INTEREST

Anunymous

5 years ago

Yes please...let this stop...my husband is in to this he is like a crazy guy aspiting to be rich within 4 to 5 years and leave me with debt.He wants to divorce because this is his moms wish so that i will not get any of his richness with QNET and to fly to dubai and be jobless...this is not fair..he is selfish now not even thinking his obligation with our two young kids (2 and 4 years old). seperating himself to us and sticking magazine pictures in the wall about his RYTHM and FAITH as well FRIENDS abrevations who to target....they are ven here now in U.K., Dubai and Australia..HELP need to save my FAMILY...they even teaching that family is a distraction...For easy rich kids are suffering. my mother in law is supporting my husband...Ruthless people.

REPLY

Anunymous

In Reply to Anunymous 5 years ago

thank you for the advices and alarm. Now my husband is going home india from UK and i do not know if he is coming back or brainwashing his friends in punjab together with his mother and sister in order to progress in this QNET and for him to have money to divorce me and have the kids....

gurupreet

In Reply to Anunymous 5 years ago

please email on [email protected]

MOHAN

In Reply to Anunymous 5 years ago

Your husband is somewhat intelligent !! That's why he is thinking that he can be rich within 4-5 years. Many morons think that they can become rich overnight !!They worship gods like Vijay "Eswaran". They hear the "discourses" of Cult leaders like Michael Ferreira only!

SCAM BUSTER

In Reply to Anunymous 5 years ago

QNET AND IT IRs HAVE BROKEN HUNDREDS OF HOMES - PLEASE READ THIS LINK

http://www.moneylife.in/article/forbes-m...

Finally, here is a first-person account from a well-known television journalist, Ashu Dutt, on how he and his family became a victim of QNet. He sent this to Mr Frazier with a copy to us…

Donald:

I got your reference from Sucheta Dalal. As a backgrounder I was the Chief Consulting Editor of Bloomberg TV and ET Now, Editor and Senior Anchor at CNBC-TV18 and Senior Anchor at NDTV/Star News. I am also a bestselling author of over a dozen books. So I hope this provides you with credibility in terms of a "detractor".

QI/QNet/QuestNet/GoldQuest/Faith Network is not just a fraud, but they lure women to break away from their families and then go after the family money. My own wife fell into this trap. I have 3 little children and she has put their future in jeopardy. They first lured her into their web using hypnotists (their Mumbai kingpin, Manjunath Hegde, is a hypnotist and they proudly declare him to be a "master of the mind". The network in Mumbai is run through another cult-like organization called "Faith Network".

Once this was done, they got her to put money from our house and relatives. Then they told her to kidnap our children and run away to Thailand (my kids are US and Thai citizens). Fortunately, Indian immigration stopped her from going to Thailand.

This is my story. I can tell you that there are hundreds of Indian families that have been ruined by these people. In Mumbai, they use hypnotism and cult-like practices (wearing white clothes with blue pendants).

Once they trap the women, they go after their wealth. My wife has now gone on to take over our assets by changing directors and doing all kinds of illegal corporate stuff guided by QI kingpins.

This is my personal experience and I come from your fraternity. I must say I was very dismayed to see a magazine of your standing put out an article about people who use hypnosis and destroy families.

QNet openly uses your article to mislead people. While it may just be an article for you, hundreds of homes have been destroyed. People are being sold Ponzi schemes in a country where the level of financial literacy and understanding of legal rights is very poor.

Hope you will do something to correct this distorted picture

Regards
Ashu Dutt

karam

5 years ago

Why is it being touted as a 425 crore scam - It is a repeat scam perpetrated by a Malaysian money launderer since early 1990's - the amount involved is much larger ... too big perhaps to even speculate ...

Once convicted in Chennai - absconding - dont we have an extradition treaty with Malaysia and Dubai (most of them are hiding there) ??

Let us get some RTI's in action to speed up the proceedings and to keep things in shape ...

Granddaddy was supposed to return to India after completion of the treatment of his so called prolonged ailment (or so he said in an interview) Where is he now ? They have made so much money that their next few generations could survive without returning to India ...

We need to get to the bottom of the money trail ...

REPLY

gurupreet

In Reply to karam 5 years ago

yes file RTI,s in every city police department and seek details of complaints against this company and why police is sitting quietly...help me

gurupreet

In Reply to karam 5 years ago

yes file RTI,s in every city police department and seek details of complaints against this company and why police is sitting quietly...help me

mlm

In Reply to gurupreet 5 years ago

Guys please file for RTI... you will come to know the real truth. Please file for case facts on the current issue as well when you file for RTI... After that you will stop following this post as well. Guys read through every post in every form of print media... And jusk ask yourself - 1. Why is the name of Herbal life not there at all? 2. Rationally ask yourself - can anyone who has not even bought a product , put a fight like this without internal funding; our man, we know who has been in every e-forum 24 by 7? 3. Read through logically and ask yourself what has QNet done wrong? Everyone who bought a product got a business opportunity along. Have your experienced the vacation in the resorts offered through one of the products of QNet? if no, how can you question? 4. Where has a person invested? If u and me buy a 50K TV, have we invested in a company or just bought a product? 5. The payout model of QNet uses a Tree data structure, tell me which company in the world does not use a Tree data structure ? EVery organization we are a part of uses, Tree data structure for effective mapping of Organization 6. Whatever u see around today is a 3P strategy to break a network marketing company - Police, Press and People . This is a standard practise around the world and it's been used in India also 7. Passing judgment and comment is so easy, hold on till the facts get out. 8. Every media company should also start a study on why QNet is the fastest growing Network Marketing Company in the World. 9. You and me question this model - because it is simple. All our lives we have been taught that for things to be big, they need to be complicated. AND THAT IS THE BIGGEST ISSUE!

Aam Adami

5 years ago

Good job Grupreet....soon it will exposed and finished the decked from our city & country...

REPLY

gurupreet

In Reply to Aam Adami 5 years ago

thank you sir :)

Jai HO

In Reply to gurupreet 5 years ago

Very good job done by you Gurupreet, have been following this story for almost 3 months now , hats off to you to have taken all this to this point.Wish we had more people like you in the bureaucracy as that would have ensured that these serial offender would not have come back after Quest etc had closed...tussi great ho sirjee....may God give you more strength and protect you ...

karam

In Reply to Jai HO 5 years ago

If you know any any IR's cheating people pls refer them to the EOW .. RAISE THE BAR HIGHER ...

Vinay

In Reply to gurupreet 5 years ago

Dear Gurupreet
I am reading these discussions for some times now since I was offered an investment opportunity in Q net by a friend. Fortunately I declined though I did not know all this scam at that time. What you are doing is a great work & very selfless too. Very few people realize what it is too stand up against established & popular evil.It is like standing against bad practices in religions, likes of Malala, Agarkar & lot of reformist have done. Great job done. Take care of your health & family. - Vinay

gurupreet

5 years ago

Hello Friends,

QNET,s Cheap Pathman SameShitRajah had promised more visibility for QNET in coming days in his video messages to India 15 days back.

We waited all these days for Cheap Pathman SameShitRajah to HIT BACK and MANAGE THE MEDIA, nothing came up...so we thought we might just as well lighten up the mood a little bit...Happy New Year Q.

Posted below are the press releases of the Look Out Notices issued against Absconding Accused Vijay Easwaran, Michael ferreira, Dev Wadhwani, Sachin Gupta and others...

This news should serve as a lesson to the few active IR,s that are still ACTIVE and how they have been cheated by QNET by telling them that INVESTIGATION IS LIMITED ONLY TO MUMBAI.

No Matter which part of India you all are if you are promoting this illegal money circulation scheme then you are part of the crime de-facto.

Your GRAND uplines have absconded abroad, second level up lines have fled and changed cities...dont fall and become a victim of this fraud..Wake up and smell the SHIT...


http://www.livemint.com/Politics/D6JaDQC...

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

http://timesofindia.indiatimes.com/india...

http://zeenews.india.com/sports/others/l...

http://ibnlive.in.com/news/mumbai-police...

http://www.firstpost.com/sports/rs-425-c...

http://www.firstpost.com/sports/rs-425-c...

http://www.moneylife.in/article/qnet-mum...

http://www.moneylife.in/article/qnet-mum...

http://www.saharasamay.com/sports-news/6...

http://www.financialexpress.com/news/loo...

http://www.niticentral.com/2014/01/02/lo...

http://www.telegraphindia.com/1140102/js...#.UsWTGNIW2-k

http://news.oneindia.in/india/lookout-no...

http://www.thehindu.com/news/national/lo...

http://www.ptinews.com/news/4283934_QNet...

http://news.outlookindia.com/items.aspx?...

http://ibnlive.in.com/news/mumbai-police...

http://www.thehindubusinessline.com/news...

Lets finish this FINANCIAL TERRORISM FROM OUR MOTHER LAND...

VANDE MATRAM
Gurupreet

REPLY

Gurupad

In Reply to gurupreet 5 years ago

The scam runs in thousands of Crores the rs 425 crore transaction has only happened in vihaan marketing so I guess we need to dig deeper

jitu moni

In Reply to gurupreet 5 years ago

Only one Leader is needed to cleanse away evil. Common People always join in. One Mahatma One Kejriwal One Gurupreet... On the other side Whole British Govt, 60 year old ruling party and 15 yr Scam Company

MOHAN

5 years ago

Please forward copies of the look out notice to "Forbes' and Donald Frazier

gurupreet

5 years ago

my pleasure :)

REPLY

Saminder

In Reply to gurupreet 5 years ago

Silently you fire. news is everywhere but don't know what is the end. These IRs say that this is only investigation, yet not proved a illegality.

Yashraj Singhania

In Reply to Saminder 5 years ago

But they keep on running away from investigations. They have been chargesheeted previously in Goldquest and Questnet cases but Vijay Eswaran hasn't cleared his name, is still absconding. This is the 3rd fraud case against him in India. Now Michael Ferreira is hiding.

Gurupad

In Reply to gurupreet 5 years ago

Gurupreet
Vande mataram

Uday

5 years ago

get these asses behind the bars ASAP

QNet: EOW summons Michael Ferreira, the former billiards champion

Michael Ferreira, the former billiards champion and recipient of Padma Bhushan is the founder of 'Team Faith' that is involved in hard selling the QNet scheme across India and Egypt

The economic offenses wing (EoW) of Mumbai police has summoned Michael Ferreira, the former billiards champion in connection with the Rs425-crore scam allegedly committed by multi-level marketing (MLM) operator QNet.

 

The police will question Ferreira about his association with the scam-hit company and his role. The former world champion is founder of Faith, which was started as a distributor network under the QI brand.

 

QNet operates in India through its official franchisee Vihaan Direct Selling Pvt Ltd, which carries the company's brand name in the country. Ferreira owns 80% stake in Vihaan Direct Selling with Malcolm N Desai holding the rest. Desai had already approached the Sessions Court in Mumbai for an anticipatory bail fearing that the EOW may arrest him soon.

 

Image: Documents procured from Registrar of Companies (RoC).

 

Gurupreet Singh Anand, 40, a computer consultant from Lokhandawala, Andheri, who filed first information report (FIR) against QNet had, requested the EOW to add name of Michael Ferreira as one of the accused in the case. He also sent a letter to the President of India requesting him to strip Padma Bhushan, the third highest civilian award in India, given to Michael Ferreira.

 

According to Faith Egypt, Michael Ferreira is the founder of 'Team Faith' that is involved in hard selling QNet scheme. Talking about Ferreira, it says, "As an individual, in a very short space of time he (Ferreira) was in the list of the top 30 earners and under his astute stewardship he provided the platform, environment, guidance, training and inspiration to his flock, many of whom are earning incomes beyond their wildest dreams."

 

Showing a clear link between, Ferreira, QNet and its founder Vijay Eswaran (one of the accused in the cases against the MLM operator), the portal says, "The core leadership of Faith is today in a position to concentrate more sharply on those who still remain vulnerable to the “slings and arrows of outrageous fortune” so that each one of them develops into lead birds of their own teams, all fiercely loyal to Faith, its philosophy and its ideals and to the values espoused by its visionary and mentor Dato Vijay Eswaran."

 

Faith Egypt, also reveals names of other people, like Mark Ferreira, Malanie Sequeira, Lata Hegde and Manjunath Hegde, all of whom are associated with QNet. In August 2013, the EOW had arrested Bandra-based Manjunath Hedge for cheating in the QNet case. The EOW searched his house and seized computer hard disc and several incriminating documents, including some payment/ commission receipts.

 

Here is what Faith Egypt says, "Team Faith relies heavily on its global core leadership, chief of whom is the powerful, knowledgeable, business strategist and dreamer Mark Ferreira, the gentle but steely ‘never say die attitude’ of Melanie Sequeira, the extremely knowledgeable and detail oriented Lata Hegde. In Manjunath Hegde we have a master who understands the brain, and its many secrets combined with psychology."

 

Last month, the EOW arrested eight of QNet's agents or independent representatives (IRs) as the MLM refers them. The EOW also froze bank accounts of these people. The EOW also froze Rs1.8 crore from Vivekkumar Singh's bank account. Shashibhushan Rameshwar Pandey had Rs70 lakh, his wife Namrata Pandey had Rs2.5 crore, Sabeena Vijay Mathew (Rs1.2 crore), her husband Vijay Mathew (Rs74 lakh), Jagdevsingh Bhulsingh Parmar (Rs70 lakh), Rohit Chandra (Rs1.2 crore) and Mahesh Baharwali had Rs42 lakh in their bank accounts, all of which is now frozen by the EOW.

 

Earlier, in August, the EOW froze six bank accounts of QNet and its associates with a balance of Rs46 crore in all these accounts. EOW had registered a case against QNet, for allegedly duping thousands of investors by selling them plastic and glass products terming them miraculous objects for treating severe diseases like Cancer.

 

As reported by Moneylife, QuestNet and GoldQuest, 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.

 

Meanwhile, QNet has closed a portal used by people to seek refund from the company. The portal, www.getsatisfaction.com/qnet/  now shows a message, "Sorry, the community that you’re looking for has been retired and is no longer available. If you need help, please contact the company you're looking for directly."

 

Last seen, there were a number of requests filed by IRs for refund from QNet.

 

You may also want to read…

QNet: The Suresh Thimiri link between Vihaan and Transview

 

QNet: When India CEO Suresh Thimiri denies relations with the company

 

QNet: Six bank accounts frozen, more arrests soon, says EOW

 

QNet: EOW freezes Rs45 crore in two bank accounts of the MLM

 

QNet: Mumbai police register fraud case against the MLM
 

QNet, the MLM has resurfaced in India; will people be duped again?

 

QNet, the MLM company, has no answers to Moneylife’s simple questions

 

QNet: The “money game” played by MLMs to lure the gullible

 

Forbes magazine's strange activism on behalf of the shady MLM QNet

 

MMM India, QNet ‘cult’ growing. Why government is dragging its feet in tackling this MLM menace?

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COMMENTS

jitu moni

2 years ago

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

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

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

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

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

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

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

REPLY

Tej

In Reply to jitu moni 2 months ago

What action is taken against Rama Karthik Adari(IN067495) & Jeelani Mohammed(IN074574)

Karthik is an asshole.He is a womaniser.His only focus is money money money money money money. No relation. He only acts as a good relation. Only focus is to squeeze people. Don't believe him as all does is acting. He is arrogant. When problem comes he runs away. Especially RAMA KARTHIK ADARI. Don't believe
Only fake things happen with him

jitu moni

2 years ago

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

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

REPLY

Tej

In Reply to jitu moni 2 months ago

What action is taken against Rama Karthik Adari(IN067495) & Jeelani Mohammed(IN074574)

Karthik is an asshole.He is a womaniser.His only focus is money money money money money money. No relation. He only acts as a good relation. Only focus is to squeeze people. Don't believe him as all does is acting. He is arrogant. When problem comes he runs away. Especially RAMA KARTHIK ADARI. Don't believe
Only fake things happen with him

jitu moni

2 years ago


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

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

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

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

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

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

jitu moni

3 years ago

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

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

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

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

jitu moni

3 years ago

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

jitu moni

3 years ago


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

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

jitu moni

3 years ago

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

jitu moni

3 years ago

http://www.moneylife.in/article/qnet-mpi...
The special court has rejected anticipatory bail applications of two directors of Vihaan, Suresh Thimiri of Transview as well as Malcolm Desai and Michael Ferreira, the stakeholders of Vihaan that handles QNet's MLM operations in India

The special Maharashtra Protection of Interest of Depositors (MPID) Court on Tuesday rejected anticipatory bail applications of five accused in the multi-crore QNet scam. This includes, Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, Malcolm Nozer Desai, who is 20% stakeholder in Vihaan and Michael Joseph Ferreira, former world champion of billiards and 80% stakeholder in Vihaan.
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.

Transview Enterprises is an associate company of Vihaan Direct Selling Pvt Ltd that handles QNet's multi-level marketing (MLM) operations in India since 14 April 2012. Vihaan Direct Selling, in which Michael Ferreira, the former world billiards champion, owns 80% stake, is a direct selling agent of QNet and had done large financial transactions with Thimiri's company Transview.

The EOW had booked several accused including the former world champion of billiards and five companies related with QNet, under the MPID Act. This means all the cases against QNet, Vihaan and all those involved in the MLM scam would be heard before the special MPID Court. Until now, the accused were being investigated for cheating and forgery under the Prize, Chits and Money Circulation Schemes (Banning) Act 1978, and for money laundering by the Enforcement Directorate (ED).

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.
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. 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.”

REPLY

Tej

In Reply to jitu moni 2 months ago

What action is taken against Rama Karthik Adari(IN067495) & Jeelani Mohammed(IN074574)

Karthik is an asshole.He is a womaniser.His only focus is money money money money money money. No relation. He only acts as a good relation. Only focus is to squeeze people. Don't believe him as all does is acting. He is arrogant. When problem comes he runs away. Especially RAMA KARTHIK ADARI. Don't believe
Only fake things happen with him

jitu moni

3 years ago

http://timesofindia.indiatimes.com/city/...
MUMBAI: Investors who lost their money in major scams and multi-level marketing's cheating cases can heave a sigh of relief now. The state government has appointed 49 new competent authorities (CAs) to take decision in as many as 101 cases regisered under the strinent law, The Maharashtra Protection of Interest of Depositors (MPID) Act. This will help to dispose of as much as Rs 10,000 crore of investors that is stuck in over a hundred cheating cases' legal battle.

Earlier, the city economic offences wing (EOW) had only two competent authorities. "CAs will proceed with the procedure of disposal of properties and realisation of money for repayment to the investors. It will expedite the process of recovery and will help the victims who have been cheated to get their money back," said Dhananajay Kamalamakr, joint commissioner of police and EOW chief.

The big cases where these CAs will focus first include the cheating cases incluidng National Spot Exchange Limited (NSEL), QNet, SpeakAsia, fixed deposit scam led by Sheesha lounge owner Mohammed Fasih and the Mumbai District Cooperative Bank. SpeakAsia alone has over 24 lakh investors. The money lost in this case is over Rs 2,276 crore while investors' over Rs 6,000 crore is stuck in the NSEL case.
TOI had on October 11, 2015 reported about that as many as 62 cases under the MPID act were pending in a city court due to non-appointment of a competent authority. While seized properties of the accused in all the above cases await disbursement among the victims, the city police has sent a proposal to the state for several amendments including the appointment of CA for a speedy return of public money, said police sources. More than Rs 10,000 crore public money is stuck in MPID cases in the city alone, they said.

"Earlier, non-appointment of competent authority defeated the objective of the enactment of the MPID Act," said an EOW officer. While an investigating officer probes the criminal part of a case, the civil aspects such as the attachment of properties, sale-realization of properties, and disbursement of sale proceeds to the victims are exclusively in the domain of the competent authority who is a revenue officer of deputy collector rank.

"It is observed that competent authority has been appointed in 23 cases in the city MPID cases earlier, notification of the properties in the official gazette is yet to be published. Hence, it would be better to have CAs with independent portfolio for MPID cases," said a senior IPS officer.

Major cases where the appointment of competent authority will give relief to investors:

· NSEL Rs 6,000 crore
· SpeakAsia Rs 2,276 crore
· QNet Rs 425 crore
· FD scam Rs 325 crore
· Mumbai District Cooperative Bank Rs 119 crore

REPLY

Deepak B

In Reply to jitu moni 3 years ago

Great news....
Guys anybody still hesitating to complain...please hurry ...this is your only chance of getting a refund and teaching these cheaters a lesson. Please register your complaint.
Write down in as much detail as possible, all that you have gone through - right from who told you about the business, your meeting/calls with senior partners, the mode of payment. Please also attach the receipts of payment/product etc. Please mention the names, contact numbers and addresses of the people involved in your case. Take this letter to the EOW office, which is now shifted near Byculla Police Station. There is a dedicated team of Senior Police Officers who are handling the case.

Tej

In Reply to Deepak B 2 months ago

What action is taken against Rama Karthik Adari(IN067495) & Jeelani Mohammed(IN074574)

Karthik is an asshole.He is a womaniser.His only focus is money money money money money money. No relation. He only acts as a good relation. Only focus is to squeeze people. Don't believe him as all does is acting. He is arrogant. When problem comes he runs away. Especially RAMA KARTHIK ADARI. Don't believe
Only fake things happen with him

jitu moni

3 years ago

http://www.asianage.com/mumbai/bombay-hc...

In a setback to voiceover artist Tarun Ratnani, the Bombay high court turned down his application seeking waiving of trial court order asking him to furnish a bank guarantee of Rs 35 lakh failing which the investigating officer would sell his BMW car and deposit the amount with bank registry as security in the Rs 800 crore QNet scam.

The prosecution’s case is that Ratnani is one of the main accused in the scam and during the course of investigation, it was revealed to the investigation agency that the appellant has purchased the said vehicle by using the proceeds from the aforesaid crime.

Considering this, the police had seized the BMW that belonged to Ratnani; however on his appeal, the special MPID judge issued a direction to release the said vehicle subject to the appellant furnishing bank guarantee of Rs 35 lakh and indemnity bond of the same amount within a month, failing which the investigating officer was directed to sell the said vehicle and to deposit the sale proceeds in the name of registrar of sessions court for an initial period of five years pending the trial.

Ratnani, through his lawyer, had requested the court to give back his car on indemnity bond without a bank guarantee of Rs 35 lakh. He had contended that he had sold his old car and used Rs 4 lakh from the profits earned from QNet investments and the remaining was paid through loans so it cannot be said that the car was bought from money earned from QNet and hence the car should be handed over to him on bond. He also assured the court that if investigating agency comes to the conclusion that the car was bought entirely from the proceeds of the alleged crime then he would reimburse that amount.

However, the division bench of acting chief Justice V. K. Tahilramani and Justice A.S. Gadkari rejected his application and held that the trial court has not committed any mistake in passing the impugned order.

jitu moni

3 years ago

http://timesofindia.indiatimes.com/city/...

VIJAYAWADA: Yet another multi-level marketing (MLM) company Vihaan Direct Selling Ltd was sealed by police and its representatives were paraded before mediapersons here on Tuesday. Police will soon serve a notice on its promoters -- Vasudeva Reddy and Ch Gangadhar - who are currently in Dubai and alert the Interpol to help nab the duo.

Addressing a press conference here on Tuesday, commissioner of police A B Venkateswara Rao said that 134 people in the city have fallen prey to the company. "Vihaan Direct collected Rs 1.16 crore and deposited Rs 65 lakh in the account of Vihaan Direct Selling Ltd, which is based in Mumbai. Another Rs 10 lakh was deposited in the account of VR 1 Training Centre, which is based in Bangalore. Rest of the funds have been misappropriated," he said.

Acting on a complaint from a depositor Prathipathi Lakshmi Ganesh, Krishna Lanka police led by circle inspector S V V S Murthy arrested four representatives of the firm- Gourang Desai, Y Babul Reddy, D Nagaraju and Ch Manikanta -- on June 22 and recovered Rs 15 lakh in cash and four mobile phones.

It was on January 5 this year Mumbai-based Vasudeva Reddy, a notorious MLM agent, opened Vihaan Direct as a franchise of Hong Kong-based Q-Net near Prasanthi Hospital in Labbipet. He also ran a training centre called VR 1. City-lad Desai, who met Vasudeva in Mumbai, was nominated as in-charge of the training centre. Gangadhar, a close aide of Vasudava, was nominated to run the direct selling firm.

Gangadhar recruited Babul, Nagaraju and Manikanta as independent representatives (IRs) to carry out the fraudulent MLM operations. Their modus operandi was typical of a binary tree structure- each IR has to recruit more members. IRs will receive commission based on the number of referrals and sales volume of other IRs in their team.

The police commissioner said that Vijay Eswaran, who runs Q-Net, is the brain behind the MLM firms. "From 2002-08, he ran a firm in Chennai that swindled Rs 1,100 crore. Between 2010-14, he ran another MLM firm with Vasudeva Reddy, which swindled Rs 425 crore from depositors," he added.

jitu moni

3 years ago

QNET multi-level marketing scam busted in Vijayawada - Tv9

https://http://www.youtube.com/watch?v=Plsdlh0FBkU

jitu moni

3 years ago

http://www.business-standard.com/article...
Four persons have been held today for their alleged involvement in the multi-level marketing 'Qnet' case, police said.

The four persons, identified as V Bal Reddy, Gautam Desai, Dasari Nagaraju and Cheemakurti Manikanta, were arrested today and Rs 15 lakh, deposited in different bank accounts, were seized from them, district Police Commissioner A

B Venkateswara Rao said.

The accused were nabbed by Economic Offences wing of the Commissionarate and the key person involved in the alleged fraud, Gangadhar from Vijayawada, is absconding and is currently said to be in Dubai, the senior officer said.

The five persons were associated with multi-level international marketing firm Qnet, a company founded by one Vijay Eswaran, a Malaysian citizen based in Hong Kong, in 1998, where the company agents extracted huge money from people by offering them lucrative incentives, he said.

The company also operated in India with other names like 'Qen' and 'Quest, police said.

Eswaran had appointed one Vihan Direct Selling, owned by Gangadhar, as the sole selling company in India, where the firm had assigned some agents to recruit salesmen under the direct selling system.

According to police, the agents had appointed 134 first level salesmen by collecting Rs 1,16,55,000 and another 13,400 second level salesmen were joined by the 134 sales persons.

In the meantime, one of the salesmen suspected company's activities and lodged a complaint with the police and the four accused were arrested after investigations.

Rao said if necessary, a red corner notice will be issued against Gangadhar.

He said Qnet is facing many charges in the country and some of the cases against the company are pending in courts.

A decade back, the company was involved in a Rs 11 crore case of alleged fraud in Chennai. It has also been facing some cases in Mumbai, the officer said.

jitu moni

3 years ago

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

A Mumbai resident today approached the Economic Offences Wing of police seeking inquiry into QNet, a multi-level marketing company facing allegations of duping investors, being one of the sponsors of onoging International Indian Film Academy Awards, 2015.

The EOW of Mumbai police is probing the Hong Kong-based Qnet for an alleged Rs 425-crore fraud.

Gurpreet Singh Anand, who is one of the original complainants against the firm, contends in the fresh complaint that the "purpose of sponsoring IIFA awards is to further the Qnet scam in India and create an image that it is a respectable brand".

IIFA website lists Qnet as one of the 'official direct selling partners'.

While Singh has demanded probe into "why they (organisers) have appointed this company as sponsor", IIFA officials were unavailable for comment. Its legal cell informed PTI that senior officials were busy in Malaysia where the awards ceremony is taking place.

The EOW has so far arrested 17 persons for allegedly duping investors by selling Qnet products including magnetic disks, herbal products and holiday schemes through allegedly fraudulent means.

It has been accused of using the banned 'binary pyramid business model', and a case has been registered under the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

jitu moni

4 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.

SCAMI BUSTER

4 years ago

http://timesofindia.indiatimes.com/City/...

Eonomic offences wing raids at QNet Office in Bangalore

MUMBAI : The city economic offences wing (EOW), probing the Rs 425 crore cheating case involving marketing firm, QNet, raided the firm's office in Bangalore and downed its shutters. Meanwhile, a bank account belonging to a PR firm which was dealing on behalf of QNet has been frozen.

QNet, pretending to be marketing firm sold bio disc and other stuff to investors promising quick cure for several diseased including Cancer. It sold bio discs and electronic items and cheated people, said police. The schemes began from Rs 30,000 onwards.

An officer who is part of the cheating case probe told TOI that they searched the office of Vihaan Direct Selling, master franchise of QNet in Bangalore, and downed its shutters. "It was taken by the QNet on rent. Padmabhushan recipient Maichael Ferrera, also shown an accused in this case, owns more than 80 per cent share in Vihaan while the rest 20 per cent share belong to Malcolm Desai. Both have approached the court for anticipatory bail," the officer added.

The police said that even after a criminal case was registered against QNet, its office bearers continued the business and were busy in collecting the money across India. "They were making new members and cheating people," the officer said. There are more than one lakh investors in QNet.

A PR company which has been in touch with the media on behalf of QNet came under the police radar last month. "We have frozen their bank account in a Fort bank. Their officials have been summoned again and we are collecting evidence against all the accused," the officer added. More arrests are likely soon.

gurupreet

4 years ago

Representative of PR company summoned in QNet case

MUMBAI: The EOW summoned the representative of a PR firm and sought details about the services it has been providing to QNet, a marketing firm involved in an alleged Rs 425 crore cheating case. Meanwhile, the police have written to a bank in Fort to freeze the PR firm's account.

The police said they will also summon other PR companies that worked for QNet in the past.

An EOW source said the representative has said that the PR firm had entered into a contract with QNet in January to act as a coordinator between the media and the marketing company. "We have asked the PR firm to furnish the contract copy, details of QNet officials who had approached it and bank payment details," said an officer. But, the officer added, the EOW is not satisfied and has summoned the representative again.

The cops have written to the bank under section 91 and 102 of CrPC and Section 4 of the Bankers Books Evidence Act, 1891, to freeze the account belonging to the PR firm. "We suspect the money used to pay the PR firm was earned by QNet through the proceeds of crime. Till date, 10 people have been arrested in this case," said Rajvardhan Sinha, additional commissioner.

The PR firm, in its statement to TOI, said, "Our relationship with QNet is purely that of a client and a consultancy. Like any PR constancy, we are just doing our professional job to coordinate flow of information from the company to the media and attending media queries on QNet. As part of their investigation, the police inquired with us on the nature of our association with QNet and we informed them of the same."

http://timesofindia.indiatimes.com/city/...

gurupreet

4 years ago

Mumbai: The police custody of ex-world billiard champion Michael Ferreira's former daughter-in-law, who was held in connection with the QNET scam, was on Tuesday extended till September 22 with investigators seeking to examine her earnings and investments she made using the illicit money.

Read full story here: http://zeenews.india.com/news/maharashtr...

gurupreet

4 years ago

The EOW had arrested Susan Chatterjee, former daughter-in-law of Michael Ferreira in the Rs425 crore QNet scam. While Ferreira owns 80% stake in QNet's official franchisee in India, his son, wife and close relatives are also reportedly under the scanner

With the arrest of Susan Nikhil Chatterjee, former wife of Mark Ferreira, the focus of the investigators is now back again on the family of former world billion champion Michael Ferreira. The Economic Offences Wing (EOW) of Mumbai police last week arrested Susan in the Rs425 crore QNet scam.

Read the full story here...and please add your comments...

http://www.moneylife.in/article/qnet-mic...

SCAMI BUSTER

4 years ago

MICHAEL FERREIRA’S EX DAUGHTER IN LAW ARRESTED BY EOW IN QNET SCAM. MICHAEL FERREIRA ALSO HEADED “FAITH SOLUTIONS” UNDER WHICH GARB PEOPLE WERE TAKEN FOR “QNET” AND INCLUDED HIS SON “MARK FERREIRA”, “MANJUNATH HEGDE” (WHO WAS ARRESTED AND WAS IN POLICE/JUDICIAL CUSTODY FOR OVER A MONTH), LATA HEGDE AMONG OTHERS

http://indianexpress.com/article/india/i...

http://www.financialexpress.com/news/qne...

http://www.dnaindia.com/mumbai/report-mi...

jitu moni

4 years ago

MUI Riau: QNET Business Indicated Haram
June 18, 2014 by the Indo Howmoney

QNET_logo_indonesia Of Riau, Chairman of the Fatwa Commission of the Indonesian Ulema Council (MUI) in Riau Province Ustadz Abdurrahman present the results of studies related institutions will report QNET business community on Tuesday (06.17.14). MUI Riau concluded, that QNET MLM business founded by Malaysian businessman Vijay Eswaran, there MLM qualified as defined MUI halal center.

"We received complaints from the public related QNET MLM and after assessment, we conclude that QNET MLM strongly indicated forbidden," he told riauterkinicom.

Presented Ustadz Abdurrahman, from contract documents or statements QNET MLM participants were studied and the products are used as evidence, developed QNET MLM system containing elements of fraud, is potentially causing loss of one of the parties and obscurity.

For example, each participant must purchase a product in the form of Chakra, a round clear glass plates by hand or Chi Pendant, a round slab logal for long Rp100 coins shaped pendant, worth Rp 8 million. Goods that, according to the QNET, expensive as it is a matter of health therapy.

During this QNET promotes itself as an online business. But in fact the ministry of the QNET greetings and the bucket is very slow, far from being a good online business. "The payment must be in cash, but the new goods are handed over to the buyer many months later. In fact, there are up to five months to get the new, "he said.

See also: What is QNET it?

In addition to pay in cash, but did not immediately get the items purchased, the price Chakra or Chi Pendant is believed to be very expensive compared to the actual value.

"We (masyarakat.red) may be asked to purchase the item (Chakra or Chi Pendant. Red) fifty thousand also may not want to," he said.

Ustadz Abdurrahman Furthermore, in addition to having to pay 8 million for goods that are considered not worth the QNET MLM participants are required to invite six new members to transact with each value of 8 million, the new bonus Rp3.5 million. Departing from non-halalan conclusion QNET MLM system, Ustadz Wahid appealed to the people of Riau, especially Muslims to avoid the business.

Meanwhile, Fery Wibowo, one of the leaders of PT Amoeba international, licensees QNET Indonesia, Riau riauterkini.com when found in one of the alleys in Jalan Bukitbarisan Pekanbaru, mentions that the legal and lawful business.

"We have an official license and also had a halal certificate from NU South Jakarta," he said.

Although not representative of the management company QNET, Fery Wibowo threatened to penalize parties who accused QNET business activities based in Hong Kong, an element of fraud.

"If anyone dared mention QNET is a fraud, I guarantee within a few hours in question would be the status of a suspect," he threatened as it.

Then one year in Banyuwangi

Even so, exactly one year ago, in June 2013, about 200 members of QNET came to the police station and reported the fraud Banyuwangi by PT QNET Indonesia with an indication of the loss of the member reaches 1.6 billion. Rudi is Suprapto, 50, Blokagung villagers, village Karangdoro representing several residents reported the case.

"I can only once a commission of 726 thousand," said Rudi Suprapto KabarBanyuwangi.info quoted as saying. While he argues, the QNET promising a salary of Rp 2.5 million per week. "The amount (bonus) depending on the product to be purchased," he said. Obtaining explanations that every member QNET should purchase products with prices starting at Rp 7 million, USD 9.6 million to $ 10.8 million. He felt cheated because after a year to join in the QNET he did not get any bonus as promised by its leader.

In the promotion, he explained, all of the products that are considered to have the power. "Bio Disc is drenched with water, he was able to cure all diseases pe. If you wear a necklace, she was able to lift heavy loads, "he said.

Not long ago, the police respond to the report and hold Syamsuri and Bambang. Both are QNET MLM leaders in East Java.

http://howmoneyindonesia.com/2014/06/18/...

gurupreet

4 years ago

Today QNET advocates scored a second self goal in court :)

Ever Since my fight started against QNET SCAM I have faced the following lawyers in court by appearing in person:

1. Nitin Pradhan
2. Mahesh Jhetmalani
3. Abad Ponda
4. Haresh Mohan Jagtiani
5. Divya Bahl
6. Rajendra Mokashi
7. Kuldip Patil
8. Sandeep Karnik
9. Sudatta Patil etc…

All these are senior advocates with teams of juniors below them but till date QNET did not get any single favorable order from any court.

The FIGHT enters a “new phase” now….Ganpati Bappa Morya :)

REPLY

karam

In Reply to gurupreet 4 years ago

4.Haresh Mohan Jagtiani

Same one - who is a Director of Bonvo Travels ? Heard that they do ticketing for QVI travelers ?

gurupreet

In Reply to karam 4 years ago

yes same one...BTW they have withdrawn from the case after a BITTER fight in court that lasted for a couple of months...his company has been replaced by Mr. Rajendra Mokashi...the new advocate is the one who represented Ajmal Kasab in court

jitu moni

4 years ago

Kavali Gold Quest Scheme Fraud: Accused Arrested

HYDERABAD: The Crime Investigation Department arrested two most-wanted persons in different cases on Thursday. While one was detained at the Rajiv Gandhi International Airport at Shamshabad, the other was detained at the airport in Chennai.

Additional DGP (CID) T Krishna Prasad said that one of them, Raavi Ramesh Babu, is an accused in a cheating case registered at the Kavali II Town (T) police station in Nellore district.

In this case, several people of Kavali town were lured by local promoters of Gold Quest scheme run by Questnet Enterprises. Believing the promises of the accused, several people joined the scheme by paying `33,000 or `66,000 but were cheated. One of the outside promoters of the Gold Quest scheme is Raavi Ramesh Babu. He is one of the main accused and had been absconding ever since the case was registered. As his activities are clandestine, the economic offences wing of the CID opened a look-out circular (LOC) against him. Ramesh Babu was arrested by the immigration authorities at the Rajiv Gandhi International Airport.

On the information given by the immigration authorities, a CID team went to the airport and took the accused into custody to produce him before the magistrate concerned.

In another case, police arrested Swaminathan Sivanandan at the Chennai airport. Sivanandan is an accused in a dowry harassment case registered at the Pet Basheerabad police station here. At the request of the Cyberabad police commissioner, a look-out circular was opened against Sivanandan. The trial court issued an arrest warrant against him as he was not attending the court. He had gone to Doha in Qatar to escape arrest.

http://www.newindianexpress.com/cities/h...

jitu moni

4 years ago

100 pull out of Chinese millionaire's MLM scheme in Malaysia

Major Chinese dailies reported that more than 100 people had cancelled their membership in the controversial multi-level marketing scheme YSLM, established by self-proclaimed Chinese millionaire Zhang Jian.

They were required to sign a letter which stated that their reason for quitting was due to the impact from a Facebook page calling on netizens to combat pyramid schemes, and that they were grateful to Zhang Jian for allowing them to terminate their membership unconditionally.

On Wednesday, the company announced that members who had failed to introduce new members to the company were entitled to a full refund of RM300 (S$115) if they quit the scheme.

Zhang made headlines recently when giant billboards of him appeared in Penang proclaiming him as the "future richest man in the world".
http://news.asiaone.com/news/malaysia/10...

jitu moni

4 years ago

http://www.wfmynews2.com/story/news/loca...

First Payouts Approved For Zeek Reward Victims
HIGH POINT, N.C.-- A federal judge has approved the first payouts for victims of the Zeek Rewards pyramid scheme. The High Point Enterprise reported that the attorney supervising efforts to return members to the victims said a judge on Thursday approved the payments.

Kenneth Bell said the first payments should be handed out late next month. Bell indicated earlier this year that the first payments could be for about 40 percent of what victims lost in the scheme. The U.S. Securities and Exchange Commission shut down and seized the assets of Zeek Rewards in August 2012.

Bell estimates that from January 2011 until August 2012, more than 700,000 people lost more than $700 million. Zeek Rewards had said it was a multi-level marketing business operating in Lexington.

jitu moni

4 years ago

'World's richest man' offers refunds to MLM investors

KUALA LUMPUR: Members of a controversial multi-level marketing business started by self-proclaimed Chinese millionaire Zhang Jian are entitled to a refund if they quit the scheme, said senior distributor Jessy Lai.

“They have until Aug 14 to cancel the membership,” she said.

“Just bring your identity card, let us take your picture and a video clip stating the reasons you wish to quit, and we will give you the refund on the spot,” Lai told a press conference yesterday.

However, she said the refund would only be given to those who had not introduced any new member to the group.

Zhang made the news recently when billboards of him appeared in Penang, proclaiming himself as the “future richest man in the world”.

Subsequently, reports emerged accusing his company, known as YSLM, of being linked to a get-rich-quick scam.

YSLM has refuted all the allegations, stressing that it was a legal business.

Yesterday, Lai also refuted media reports that at least 100 people had turned up at the company’s office here to cancel their membership since news about the refund offer was circulated on the Internet before the official announcement.

“We have not received any applications as of now,” she said.

She stressed that the refund process could only be done at the office.

On the whereabouts of YSLM founder, Lai said he had been travelling in and out of the country, exploring overseas markets.

Asked whether Zhang would show up to explain his business, Lai said he would appear for official matters and not just to answer accusations against him.

She also explained why the refund would not be offered to those who had introduced other people to the scheme.

Those who had brought in two members would have received a commission of RM300 – equivalent to the membership fee.

Thus, no money would be returned to them, she said.

http://www.thestar.com.my/News/Nation/20...

jitu moni

4 years ago

Illegality in MLMs and recommendations for law enforcement
An open letter from MLM expert Robert L FitzPatrick of Pyramid Scheme Alert to the US FTC exposes illegality of multi-level marketing (MLM) schemes and how law enforcement agencies can curb it. The same applies for India where thousands of pyramid or network marketing schemes are duping gullible savers everyday and also lobbying for legitimacy

In an 'open letter' to the US Federal Trade Commission (FTC), pyramid scheme expert Robert L FitzPatrick, co-author of the book, 'False Profits', president of Pyramid Scheme Alert and co-founder of the International Coalition of Consumer Advocates, has provided a set of recommendations to the FTC on how to identify illegal multi-level marketing (MLM) schemes and to enforce consumer protection laws on pyramids disguised as 'direct selling'. The paper was sent following a conference call with officials of the FTC Consumer Protection Bureau in which an invitation for suggestions and recommendations was made by FTC officials.

The FTC recently prosecuted one of the larger MLMs, Fortune High Tech Marketing, but only after it had scammed more than 300,000 households and operated openly for nearly 12 years. Currently, the FTC is investigating one of the largest of all MLMs, Herbalife that has operated for more than 30 years.

Bright Lines of Illegality:

The paper submitted by FitzPatrick, entitled, Identifying 'Bright Lines' for Determining Illegality of Any Multi-Level Marketing Company under Section 5 of the FTC Act, lists telltale signs of illegality (unfair and deceptive trade practices):

1. Endless Chain Structure - The sales management chain has no sector of sales people that is focused directly and only on end-users. The sales chain expansion is without limit and without geographic restriction. All new participants, upon payment, are awarded the right and offered financial incentives to recruit more salespeople and extend the chain to multiple levels, usually six to infinity. This reward plan and structure indicate the use of the inherently deceptive“endless chain”, infinity factor” and “unlimited” income claim to induce purchases and fees.

2. Pay-to-Play – Despite providing no territorial protection or even historical saturation data provided to new salespeople, sales/ purchase quotas are imposed with specific dollar volumes of product purchases (either by the distributor personally or his/her recruitment chain). In some cases, there are structural recruiting requirements also imposed in order to maintain a position in the endless chain payment plan. These volume and recruiting quotas are signs of “pay-to-play” factors that operate in tandem with an endless chain structure and recruiting-based rewards to drive purchases and fee payments.

3. Money Transfer - The MLM employs a reward formula that overwhelmingly rewards chain extension activity that is recruiting-based over personal retail sales activity that is market-based. Evidence includes formulas that allocate higher aggregate rewards, per transaction, to those at the upper end of the chain, over those at the base and allocate total commission payout to recruiters in excess of total verified retail profits. Special bonuses and rates on total “group” volume are based on position on the endless chain. They money transfer formulas directly result in an extreme concentration of payments – 50% to 80% – of total payouts to those at the extreme upper end of the recruiting chain. As an example, the report referenced hard data on Nu Skin’s payment of 82% of all its commissions to the top 1.29% of its “active” sales force, which is 0.5% of the entire sales network.

4. Recruitment-Driven - The actual activity of the business is characterised by relentless recruiting, churning and transferring funds from later participants to earlier ones.

5. Little Evidence of Market-based Retail Selling - Little evidence, gained from an examination of marketing materials, website, and reports from participants or researchers, of market-based retail sales, per salesperson, and little evidence of retail profit gains among the sales force.

6. No Income Opportunity for Nearly All Participants - Large-scale losses are evident in the sales force, even among those in the upper one-third of sales chain.

Law Enforcement Guidelines
For law enforcement, the report offered specific reforms that would put any MLM on the legal side.

1. Limit the number of levels that any individual salesperson can personally recruit and gain override commissions to one or several. In combination with other reforms, this measure would eliminate the infinity factor.

2. Require that commissions be awarded only on consummated retail sales, that is to persons who are not signers of the company’s sales contract and are not eligible for recruiting-based rewards.

3. Allow no commissions to be paid on any purchases made by other salespeople or on the salesperson’s own account. This reform eliminates a major incentive for recruiting and for making personal purchases. It would also clearly indicate that all purchases made by the sales force are market-based.

4. Eliminate all purchase/ sales volume or recruiting requirements in order to maintain sales and recruiting authorization. With no geographic limitations or protections placed on MLM salespeople, and no information available on market saturation factors, volume and recruiting requirements serve no other purpose than as recruiting inducements.

5. Establish limited territories for distributors who want to develop sales teams with authorisation based upon management selection. The current practice of open-ended, even global territories and escalation on the sales chain being based purely on volume/ recruiting performance is a telltale indicator of the “endless chain” inducement and the lack of a real-world market basis for sales.

Principles of FTC Law Enforcement and Consumer Protection from Illegal MLMs

1. The establishment of an understandable and consistent “bright line” requires that the FTC take a clearly stated legal stand against the groundless and nonsensical claim of MLM promoters that purchasing products by the participants in multi-level marketing exempts the enterprise from an illegal pyramid definition. The bogus identity of “direct selling” by pyramid selling schemes and the claim of exemption from a pyramid scheme definition based on product purchases have confused and misled millions of consumers (“If the MLM sells a product, it’s can’t be a pyramid!”).

MLM lobbyists have claimed that pyramid scheme definitions must exempt enterprises in which rewards are gained through product sales “to participants.” They have lobbied for this “product exemption” in state laws and tried to get a federal law passed in 2003. In fact, in case after case of MLMs prosecuted by the FTC, the selling products was the disguise of choice, and “direct selling” turned out to be a false identity.

2. FTC must establish and publish a set of recognizable actors indicative of the use of the endless chain as a marketing device, once the endless structure is identified as part of that MLM’s business model.

The evidence of the use of endless chain marketing to induce purchases and fee payments is found in the MLM’s pay formula and in the statement of policies and procedures, both of which are generally published.

Additional evidence can be found in income disclosure documents, website, webinars and in SEC filings.

Evidence of the use of the endless chain is manifested in verifiable loss and churn rates and absence of profitable retail selling. Referencing these classic elements of a pyramid disguised as a sales company can be done in a matter of hours or days. Pyramid fraud is frequently in plain sight.

Mandate for Action Now

By offering bright lines and recommendations for law enforcement, the “Open Letter” supports the message of urgency that the International Coalition of Consumer Advocates delivered to the FTC in October, 2013 with it White Paper and petitions.

Currently, the FTC lacks a consistent or understandable standard for determining illegality of any MLM, rendering effective FTC prosecution and law enforcement in MLM sector essentially impossible and, indeed, virtually non-existent.

By any standard, this position for a law enforcement agency is intolerable. It leaves millions of people in America and around the world without any means of distinguishing legitimate direct selling opportunities from pyramid swindles. In recent years, these schemes have begun targeting the most vulnerable sectors of the public, students and immigrants. The FTC’s untenable position has also generated a dangerous uncertainty in the securities markets, putting pension funds at risk that are invested in MLM enterprises that are being openly challenged for operating illegally.

The scenario in India

Coming back to home, Moneylife has been continuously writing about the inaction by government and regulators regarding MLM companies, money circulation schemes, pyramid-marketing schemes and other similar companies that swindle the unwary public by offering them misleading inducements and depriving them of their hard-earned savings.

In April 2013, after the collapse of Saradha group, the ministry of corporate affairs (MCA) in a face saving measure has decided to hand over probe of such chit-fund, MLM, Ponzi and pyramid scheme operators to a Special Task Force under the Serious Fraud Investigations Office (SFIO). The ministry said the probe has been ordered in view of a larger public interest involved in the issues, although the state governments are the appropriate authorities for regulation of such chit fund companies and schemes under the Chit Fund Act, 1982.

Here are some of the important stories written and representations made by Moneylife over the years…

Moneylife Foundation’s representation to PM, FM and RBI on MLM schemes

In May 2011, following the exposé by Moneylife on Speak Asia Online Pte Ltd and its MLM scheme, Moneylife Foundation sent a representation to prime minister Dr Manmohan Singh, (the then) finance minister Pranab Mukherjee, finance secretary Sushama Nath and Reserve Bank of India (RBI) governor D Subbarao urging them to ban all MLM companies and their schemes in the country, or to bring all MLM companies under the regulation of either the RBI or the Securities and Exchange Board of India (SEBI), to stop them ensnaring gullible people.

West Bengal’s ‘chit fund’ mess and inaction of MCA

The massive money, which is raised surely shows somewhere on the balance sheet of the company, filed regularly with the MCA. The primary recipient of the information about these companies is the MCA, and surprisingly the MCA is the least proactive in the entire process of bringing these perpetrators to regulatory focus, sooner before tonnes of money vanish.

Chain Game

Dubious pyramid schemes or money-circulation schemes are looting Indians across economic strata, finds Sucheta Dalal. This will continue since Central and state governments seem unconcerned.

Pyramid schemes: Daylight robbery

Pyramid marketing companies are looting the public easily, while the government watches. Many countries have banned them outright.

Ponzi Scheme: Is RBI Passing the Buck?

A strange deposit scheme that is proliferating in the states of Orissa, Chhattisgarh, Karnataka and Maharashtra has already collected almost Rs1,000 crore and is expanding virtually unchecked. The scam has elements of money-laundering and possibly the use of fake and forged currency as well; however, the banking regulator would like to pass off the investigation to the respective state governments for investigation under the antiquated Prize Chits and Money Circulation Schemes (Banning) Act.

Coin Game

An international network marketing scheme hawking expensive limited edition coins is attracting a huge following. Sucheta Dalal examines this strange quest.

Ponzi schemes: Free for all

Moneylife readers know how MLM schemes ensnare lakhs of people by promising extraordinary returns. We learn from the ministry of consumer affairs that the government is now waking up to the need for better regulation of MLMs and ponzis. At the same time, the powerful Direct Selling Association of the US is lobbying hard for an amendment.

‘Beware of deception by pyramid schemes, MLMs trying to lure people with promise of high returns’

Pyramids are pure fraud. Their business is unsustainable-they promise payment for goods or services of dubious value. The hallmark of these schemes is the promise of sky-high returns in a short period of time, for doing nothing other than simply handing over your money to them, and getting others to do the same.

Ponzi schemes: The fraudulent art of chain game

Even as India bans pyramid schemes under a statute called the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, the country continues to be a happy hunting ground for pyramids because our legislation is deliberately unworkable.

Dubious Ponzi & MLM Schemes

Investors losing money, or falling for dubious Ponzi schemes, is not a recent phenomenon; this has been happening for decades and it is not restricted only to India. Why is it that people repeatedly fall prey to such schemes in spite of being aware of the frauds perpetrated by conmen under different guises?

Set up inter-departmental group to curb MLMs

EAS Sarma, former power and finance secretary, said the ministry of finance, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the investigating agencies should collectively tackle this problem without any delay, as every day of procrastination will only result in thousands of hapless families cheated by the promoters of these schemes.

How MLMs wave an annulled letter to claim legitimacy of their operations and con people

Spokespersons and dealers of multi-level marketing (MLM) schemes or network marketing schemes respond to questions about their legitimacy by brandishing a 2003 letter issued by the then secretary, ministry of corporate affairs (MCA). What they omit to mention is that the letter was subsequently annulled following complaints about its misuse. This means, the letter used by these scamsters is no more valid.

Pyramid and MLM schemes are scourge on people

While there are existing laws such as Indian Penal Code (IPC), the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (PCMCS Act) and others under which concerned agencies could prosecute the culprits, there is no effective mechanism in place to ensure a coordinated approach to identify the fraudulent operators in advance and book them well before they destroy the livelihoods of thousands of households and launder the ill-gotten funds to unknown destinations.

MLMs now want to ‘invest’ money in India, really?

A set of powerful MLMs, which are part of an exclusive closed club, called the Indian Direct Selling Association or IDSA (on the lines of the Direct Selling Association of the US) has been lobbying hard to make a distinction between their operations and those of others, who they call, fly-by-night operators such as SpeakAsia and Ad Magnet.

QNet, the MLM company, has no answers to Moneylife’s simple questions

QNet, the controversial Hong Kong-based multi-level marketing (MLM) operator with multiple names (GoldQuest, QuestNet, QNet, QI Ltd and QI group are the better known names) refused to answer simple questions like how much money their independent representative (IR) earns on an average every month and why their products are priced so highly. Instead, it sent us a threatening and defamatory mail that raises more questions as to their real motive.

2011: A year dedicated to MLM and Ponzi scheme frauds

If 2010 was the year of great Indian scams, 2011 was rather of ponzi and multi-level marketing (MLM) frauds. SpeakAsia managed to top the chart, but soon many others joined the bandwagon, duping gullible investors for several thousand crores.

How to avoid 'get-rich-quick' schemes and scams

Nothing comes free in this world, especially money. The universal truth is you need to earn your money by hard labour all the time and there are no shortcuts to double it in the shortest span of time. Therefore, even if your near and dear ones tell you he/she will double, triple, quadruple your money within a few days/months, politely reply to them that it is not possible and what they are advocating is a pure 'get-rich-quick' type of scam.

Herbalife is a pyramid scheme worth zero dollars: Bill Ackman

Herbalife, a global MLM scheme also prevalent in India, is believed to be worthless according to hedge fund manager Bill Ackman, who made a detailed presentation on why consumers should avoid buying the company’s products and stay away from the MLM.

http://www.moneylife.in/article/illegali...

jitu moni

4 years ago

http://amwayscheme.blogspot.in/2014_07_0...
The Amway Job
Amway IBOs like to call themselves "Independent Business Owners". But when you sit down and think about this for a minute, I believe that the Amway opportunity is more like a job. As an IBO, you are basically acting as a commissioned salesperson without any benefits coming from the Amway corporation. It's great for Amway as they only pay you for products that are moved. If you work very hard but sell little or nothing, Amway pays you little or nothing. Even if you work hard but move less than 100 PV, Amway pays you nothing.

The Amway corporation can sit back, and simply issue bonuses to downline IBOs. It is the IBOs themselves who recruit others, train others and move the products. Many IBOs are fiercely loyal to Amway products even when they could get the exact same product or a similar product, in many cases, at a fraction of the cost at a big box retailer, or even a local retailer. Take a look at Amway's flagship vitamin (double x). Do you really need to pay $75 or more for a one month supply of multi vitamins? That isn't t say Amway has no products of value, but overall, you can get much more product at less cost by shopping at a retail outlet. Amway must add the cost of IBO bonuses to their prices, therefore their prices are abound to be higher than competing products.

Uplines get you to see the world differently. That you do not equate an hourly wage with your business. But if IBOs did think of their earnings that way, they would easily see that they are working to lose money or to make pennies an hour. For the larger majority of IBOs, working minimum wage would be far more lucrative than spending countless hours and money chasing an Amway dream that is very unlikely to materialize. Uplines also get you to think you are "investing" in your business by purchasing tools, but in reality, you are just a customer of your upline's tool business. Some of you upline might me making most of their income selling cds and function tickets. Tool profits are higher than the profits on Amway so the math is simlpe.

You dedicate yourself to attending meetings, working the phones, meeting with uplines and downlines. You drive a lot of miles. But what many IBOs do not notice is that the priority in building a business should be a focus on getting more customers and expanding sales. But because Amway products can be hard to sell, most IBOs are focused on expanding their business by recruiting others. An endless chain of recruitment, which is why many people think of Amway as a pyramid scheme. Whether it's legal or not as is, is not my call.

But the bottom line in my view, is that Amway is more like a job than an independent business. Call it what you will, but in either case, business or job, it doesn't pay well (or at all) for most.

Amway Will Set You Free?
When I was an IBO, I often saw my upline diamond driving around town dressed in a business suit. I used to wonder why he keeps working if he can "walk away" and collect residual income? My sponsor told me that the diamond only works because he cares about his downline and wants to help them. So there are two possible scenarios, the diamond is working to help his downline out of a genuine concern for them, or possibly he is working because he has to! The only difference now is that the diamond works the nite and/or graveyard shift, because many IBOs are building the business after the complete their day jobs. This is probably why diamonds sleep until the "crack of noon", because they are working all night!

Now Amway has stated that the average diamond earns about $147,000 a year. That is a decent income, but after taxes and paying for basic expenses such as medical and dental insurance, the average diamond probably lives a very middle class lifestyle. Keep in mind that a large portion of a diamond's income comes in the form of an annual bonus, thus a diamond's monthly income may be quite small. Yes, diamonds may have other sources of income such as speaking engagements and income from standing orders and functions. But this income depends on the diamond's continued appearances and efforts.

So is it likely that a diamond is "free"? I would have to conclude that a diamond is not free, and may actually have to spend more time maintaining his group than if the diamond simply had a 9-5 job. For one thing, a diamond needs to maintain a personal group to keep qualifying for bonuses. With a poor retention rate in Amway, I am fairly sure that a diamond spends much time recruiting personally sponsored IBOs to maintain this group. Additionally, a diamond must help his six or more groups of downline platinums to maintain their businesses or face the possibility of falling out of qualification. My former diamond dropped down to the emerald level but has since re-qualified at diamond. A diamond must also dedicate time to reward up and coming movers and shakers, to keep them motivated. I got to spend time with my upline diamond when I was considered a promising up and coming pin.

In order to continue to receive tools income, a diamond must also travel to numerous functions and speaking engagements. Although the tools income allegedly doubles a diamond's income, it also adds a lot of expenses, especially if the diamond and his family travel first class to show off the diamond lifestyle, and stays in 5 star hotels. It is probably why diamonds need free transportation to and from the airport and why they stay with friends when traveling as much as possible.

After breaking down projected income and considering projected expenses, I can only conclude that a diamond probably lives a middle to upper middle class lifestyle, and probably works as much as a man with a 9-5 job, except that a diamond works nites and weekends. A good portrait of this is shown in Ruth Carter's book (Amway Motivational Organizations: Behind The Smoke and Mirrors). In the book, the diamond had a net income of over $300,000, but lived in debt, could barely pay his mortgage, and was always on the run from one function to the next. It is very expensive and time consuming to travel from city to city showing off your freedom and diamond lifestyle.

Is this the freedom you are seeking?

gurupreet

4 years ago

Hi All,

People from all over India keep calling and messaging me asking for why nothing is happening in the QNET case. Well friends many things keep on happening all the time but i have not been able to post on blogs recently.

Just a Update...

QNET has started firing many lawyers out of their cases, but i wonder how that will HELP? How stupid it has been for copy paste lawyers to have filed those stupid ABA,s in the first place and now junior advocates are becoming the fall-guys.

Many cases were lodged against me and the EOW in various courts including Bombay High Court, Sessions Court-Mumbai, Esplanade court etc.

I have faced many seniors advocates and counsels like Nitin Pradhan, Abad Ponda, Haresh Mohan Jagtiani etc who have been defending various QNET companies. I have appeared in-person in all these courts i.e without any advocate and till date no QNET company has been able to get any favorable order in any of the several cases filed by them.

After the QNET websites were blocked by an order of the court these scamsters were again conducting the online scam by forming different sub-domains of the main web site for eg, http://www.qbuzz.qnet.net , and used to post these links using URL shortening services on Facebook etc to show case to new users that see our web sites are functioning and there are no issues. I think even this backdoor has been fixed now.

Also the links https://portal.qnetindia.in/
https://portal.qnet.net/eStore4/verifyreferrer.aspx?language=EN
were working and these links were the portal logins thru which new sign ups used to take place. These links were working as again they were hosted on sub-domains i am sure even that has been fixed and these links are not resolving now.

My request to every one is you please call/contact me only if you want to fight this menace in our country and i am ready to help any one for that, but i am not in a position to argue or make clarifications regarding the SCAM.

This fight will go one never the less. People say why there is so silence..but in the past also "There has always been silence before the STORM".

Regards
Guru

jitu moni

4 years ago

Cops tracking ‘Diamonds’ of Amway
Hyderabad: The top police officials of the two States of Andhra Pradesh and Telangana have launched a massive hunt to track down the ‘Diamonds’ and other members of Amway India Enterprises to make sure their role in the multilevel marketing scam of the US-based company.

According to informed sources, the police of both the states are even sharing information regarding the list of upline members in the hierarchy of Amway India Enterprises, who share commissions on purchase of products by the downline members. The sources said that in the business model of Amway, the upline members who enroll new members into the scheme of purchasing products received sizable income which was nothing but easy and quick money. “Once the list of the ‘Diamonds’ is prepared and their income on commissions is confirmed, we go ahead with arresting them also,” the source said.

Meanwhile, the police on Monday arrested the MD and CEO of Amway, William S Pinckney, who is presently in Charlapalli Jail and presented him in the judicial court which sent him to remand for 14 days. The MD was sent back to Charlapalli Jail. It is learnt that the police would file a petition in the court seeking custody of Pinckney for interrogation to take the criminal case against him to a logical conclusion.

A police official said that the law would take its own course and charge sheets would be filed soon in the criminal cases against Amway India. In another twist to the criminal case against the MD of Amway, the High Court did not issue any orders on the petition filed by Amway India to exempt its managing director Pinckney from surrendering the passport to the police department. However, the passport surrender order issue has become an impediment for the release of Pinckney on bail.
http://apthenewstate.in/2014/07/cops-tra...

jitu moni

4 years ago

http://www.consumercomplaints.in/bycompa...

parul.goel on Jun 21, 2014

there is a team of people operating in chandigarh, panchkula mohali. selling fake dreams and conning people of their money. Its a mlm scam. They will tell you its a great business opportunity it will make you crores and they have already brought bmws. its all lies. Fake it till you make it. The cons are mostly found sitting in ccds in sector 14 panchkula. The names of the people in this scams operating in chandigarh panchkula mohali are. 1. Gunjan Nagpal- https://http://www.facebook.com/gunjan.nagpal.75 she owns aura by gunjan. 2 Deepshikha Mahajan- https://http://www.facebook.com/deepshikha.mahajan.3 she owns agadh design studio. 3 sahil nagpal- https://http://www.facebook.com/Thesahilnagpal he sells meat by nagpal foods 4 rashi arora- https://http://www.facebook.com/rashi.arora.3367 5 amit soni who comes from mumbai. Many of the higher ups have landed in jail. These people are trying to con people every day beaware of them

jitu moni

4 years ago

7 Point Charter

If you are a victim of Qnet and have lost money or know someone who has lost/invested money by believing false claims of their friends and relatives.
Then follow these steps
1.Emailed complaint to [email protected]

2.Send a formal written complaint letter along with product purchase receipt etc as evidence through registered post to the address below:
Mr. Kapase Investigating Officer Qnet Economic Offenses Wing-3 Crime Branch Mumbai Police, Police Commissioner's Office,Opposite Crawford Market, D N Road, Fort Mumbai 400001.

3.Keep proof of letter of posting and a xerox copy of complaint.

4.Email [email protected] and [email protected] demanding refund.Save your emails.

5.Call/sms FIR complainant Gurupreet Singh Anand on 07498063701 for any query regarding all India FIRs, police complaints, ongoing court cases etc.

6.Follow developments on Moneylife Qnet (comments section) and join our Facebook group 'Anti Qnet India', where we are all exposing this MLM company along with others in a big way.

7.Spread the word and this message if you can, as it will be a big help.

jitu moni

4 years ago


QNet Multi Level Marketing in India – Review
Posted on 3 June, 2014 by consumer — No Comments ↓

My friend Natraj Korgaonkar suddenly called me after 1 year, regarding a business meet. When he met me he started to enquire about my financial status, so I shared that it was not that good. He told me that he was running a business for which he left his job & is making more than the salary offered by the job. That sounded good so I fixed a meet. He told me that, it is 4 to 5 years project in which we will meet the VP (Vice Presidents) from different companies in the whole world. He assured that in this business I will be able to make rupees 4 to 5 crore in next 5 years. He asked me that if i would like to join him. I asked for a bit of details from him. He took me to his senior partner, named Mikhil Samel. Mikhil told me that they have very less positions for partners, which was valid only for that day hence i have to book the position immediately without delay, otherwise they will sign up some one else for their business project.

For this I was suppose to pay Rs. 3 lakhs to start the business, I did not have the arrangement for that sum so I said no to it. Then they said you can pay the booking amount approximately $595 (INR 45,000) and block the position. So I did the same. Then he insisted to make my husband join under me. I said will have to try first & then will put more money in the business, they then assured me the they will manage the business for me and were reluctant to share what exactly the business idea was. Since Natraj Korgaonkar was a trusted friend & used to work with me I believed it & also enrolled my husband for the same amount $595 (INR 45,000). When i asked about the business, they mentioned that “it is an e commerce business. Hence by paying money, i will be buying 3 shares of the company named Q.Net and i will be a partner”. They said ” I will get a IR code, which i can circulate amongst my friend & relatives circle and whenever they will shop, i will get the 10% to 14% of the total amount. They told me that projected profit per partner is 4.81 crore in 4 to 5 years. So, it’s not at all tough business.” When i was asking about company & business more, he never answered. He said its not our “standard operating procedure” SOP and you will know it gradually. As they were pressurizing me for money to close the position. I applied for loan, and i made an online purchase on the website using my credit card for both the transactions. We were not given options as to what we can buy & were forced to buy the holiday package (Explore 1 for 7nights & 8 Days).

Before enrolling said that this is very easy, he had promised me that I had to put in 2 to 3 hours daily from home, where few days later as after enrolling & making the payment he said I have to work at any time of the day & only as per his availability & meet at the place feasible to him. Most of the time when I called him he was busy during the day time & could not provide enough support. He used to come home at late night to explain the further procedures. I was not comfortable but had no option as I had payed already. I was shocked to see, that the destination for the Holiday package will decided by the company as per hotel & room availability & I had to suggest 3 options for the destination also that I will have to pay a sum of INR 6500 to book the date of my holiday which was not explained earlier. He showed me financial’s of the company and while seeing financials i came to know that it is “Network Marketing”, and I have to make 6 partners to start making money. than i realised that something wrong has happened with me. After Financials he took me to Mc Donalds, Hub Mall Goregaon, Mumbai for some Welcome session, In which they were talking about “Dreams”. They told me to write down minimum 20 Dreams that i would like to fulfill, than he told to make a name list of people whom i know. minimum 500 names. He explained that our name list should exceed by 10% every month, means we have to make new friend to make business partners. etc. The very next day after this session, he took me to a conference that these people call it as “System”. Where their Senior Partners (they call them Uplines) come and address the audience by showing off money & their experience. Still I was not clear that what is this all going on? What I have to do in business? and Natraj was not answering me regarding anything. Whenever i questioned him, he roudly replied that “just do as i am saying, dont dare to run your own brain in this work. No Questions, Just do as i say”. He gave a set of books and DVD’s to study before i start this business for which I had to pay additional INR 1000. I read the books & watched the DVD’s they were all about how to do network marketing. I was amazed to see, that I have got trapped by the tactics shown in the DVD’s & Books. Next time when he met me, he told me about Hot, Warm & Cold Zones. Hot Zones – Means the people who are very close to you and trust you a lot like your parents, best friends and relatives. Warm Zones – Means your normal friends Cold means – the people whom you dont know at all. These zones were the targets for them.

Natraj told me to make name list of all 500 contacts on my social networking websites. I was doing it than he told me to call up my near dear ones and tell them ” Bada acha business hath laga hai, send me money of minimum Rs.1 lakh immediately to my account. Agar profit nai mila toh, i will give you double amount in 3 years that no bank will give” He told me show urgency by saying ” I have only 1 position and i have to close it immediately, send me money jaldi se” . he told me not to answer any questions of anyone and keep the call. I felt very strange about all these things. According to me, this is not a right or ethical thing that was happening with me. Whatever they were teaching me, was not at all convincing for me. My ethics doesn’t allow me to do anything wrong and lie anyone for money. Hence after seeing all this, i started asking more questions from Natraj and he started getting more & more rude with me. I have been cheated because i saw that, they are teaching me ways to make people fool and get the money from your own friends & relatives. i found it completely unethical. The people who are called Up Lines, listen to every call. They listen to calls to know what are we talking about, as we are not supposed to say a single word without their permission. They want me to get people on the table to see this business plan, and immediately pay them money. I felt my money has been wasted unnecessarily and still i have to pay INR 6500 for the holiday package. I was never informed about the return policy or else I would have changed my decision to pay for this scam. On sheer trust i gave money and now i am paying EMI’s because i can’t lie or break anyone’s trust. Hence I didn’t even made a single partner in this business. I would like to get my money back, so that I can pay my loan back and can live my life peacefully.

Regards
[email protected]

http://www.complaintbox.in/qnet-multi-le...

jitu moni

4 years ago

Beware Folks!! Another promo circulated "Start Living" 24th May - 4th July (early bird period too)with Indians mostly,(see facebook comments) promising to Pathman for achieving their targets (read family and friends)in the hope of so called "max out"

https://http://www.facebook.com/pages/V-Managing-Direct...

jitu moni

4 years ago

QNET files appeal against Magistrate's order blocking websites
Press Trust of India | Mumbai
May 29, 2014 Last Updated at 18:38 IST
Hong Kong-based multi-level marketing company QNET, allegedly involved in Rs 425-crore financial fraud, today filed an appeal in a sessions court here challenging a lower court order which had blocked its websites.

The appeal would come up for hearing by May 31, court sources said.

On a plea made by Economic Offences Wing (EOW) of Mumbai police, a city Magistrate had on May 3 issued an order asking Indian Computer Emergency Response Team (CERT) of Information and Technology Department of the Union Government to block the websites/servers of the company.

Accordingly, the CERT blocked these websites which were allegedly indulging in online illegal money circulation schemes. Being aggrieved, QNET filed an appeal in the sessions court.

The EOW had alleged that the websites of QNET induced the people to jump into money circulation scheme and thus they got cheated by way of selling various products.

The EOW had arrested nine team leaders of QNET for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices. However, they were released on bail later.

QNET has also been accused of using the banned binary pyramid business model for their multi-level marketing schemes to entice investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

QNET contended in the appeal that it used its websites -- http://www.Qnet.Net, http://www.Questnet.Net and http://www.Qnetindia.In -- as their "e-commerce" platform to sell various products.

The company said that without hearing them or giving them an opportunity to plead its case, the Magistrate passed the impugned order asking the authorities to block websites.

QNET argued that it was engaged in e-commerce and hence its websites is their blood line. The EOW want to block their website to stop the blood line and bring the company business to collapse before proving the allegations levelled against them in the FIR registered in August last year.
http://www.business-standard.com/article...

jitu moni

4 years ago

Amway Chief Executive Pinckney in Khammam Police Custody
Press Trust of India | Updated On: May 28, 2014 23:53 (IST)
Hyderabad:

The Khammam police in Andhra Pradesh took Amway India chief executive William Scott Pinckney into custody on Wednesday following registration of a case against the direct selling company.

Amway is facing nine criminal cases at various places in Andhra Pradesh.

A court in Kurnool district also rejected Mr Pinckney's bail petition and granted his five-day remand to Kurnool police while the Punjagutta police registered yet another case against him.

However, before Kurnool police could take his custody, the Khammam Police obtained a production warrant from a court in Khammam and furnished it to the Kadapa jail authorities on Wednesday evening. A complaint has been filed against Amway by one G Rama Rao in Khammam.

"We have taken him (Pinckney) into custody from Kadapa prison....He will be produced before a court in Khammam district," a senior police official told PTI on Wednesday evening.

Kurnool Superintendent of Police (SP) Raghurami Reddy said they will seek Mr Pinckney's custody from Khammam police by producing the Kurnool court's order. "We may lose one day (of custodial interrogation period) in this process," he said.

"The police were permitted to take him (Pinckney) into five-day custody from tomorrow (by Kurnool court). It (the Amway business) is going on for the past several years. We need to find out the details about the company's revenues and mode of operations," the police official told PTI over phone from Kurnool.

Responding to a complaint alleging financial irregularities in Amway's operations, Mr Pinckney was arrested in Gurgaon by the Kurnool Police. He was produced before a court on Tuesday which sent him to Kadapa district jail on a judicial remand.

Meanwhile, a complaint of cheating was registered against Amway in Punjagutta police station in Hyderabad by a local organisation on Wednesday, said Deputy Commissioner of Police (West Zone) V Satyanarayana.

"The matter has been forwarded to the legal cell seeking its opinion as no victim has come forward with regard to the complaint....the victim has to come forward and tell about the alleged wrongful loss caused by the multi-marketing business run by the company," he said.

Amway faces criminal complaints in Guntur, Vijayawada, Prakasam, Khammam, Warangal and Medak. In addition, there are three cases in Hyderabad.

According to police, the CID had registered a criminal case against Amway in 2006. The company approached High Court seeking a declaration that its marketing scheme does not fall under the provisions of 'The Prize Chits and Money Circulation Schemes (Banning) Act, 1978'.

But the HC held that the scheme is an illegal 'Money Circulation Scheme' and falls within the definition of mischief as described in the Act. The company got no relief from the Supreme Court either, as per the police.

Terming the FIRs as "frivolous and misleading", Amway in a late night statement said Mr Pinckney has been denied bail and the company will move higher court.

It also said the police started moving Pinckney from Kadapa jail to Khammam jail even before the outcome of the bail hearing in Kurnool. This movement was based on another "frivolous" FIR lodged in Khammam some days ago, it added.

"Subsequently, in the evening, the bail application of William Pinckney was denied by the Kurnool court. We will now approach the sessions court."

"We maintain that the allegations mentioned in the FIRs are frivolous and give a misleading impression about our business. We had no prior information about the FIR which was filed way back in December 2013," it said.

The developments highlight the need to amend the Prize Chits and Money Circulation Schemes (Banning) Act 1978 (PCMCS) under which the complaints have been filed against Amway and its CEO, the statement said.

"Frivolous or motivated complaints filed against a legitimate direct selling company like Amway have been misinterpreted and booked under the PCMCS Act. As pointed out by the Secretary General of FICCI yesterday, such instances can potentially damage the country's reputation as an investment destination," it said.

The company ask the authorities to take note of the challenges faced by the direct selling industry and provide guidelines to recognise legitimate direct selling companies. The direct selling industry generates an annual revenue of more than Rs. 7,100 crore, it said.

Amway operates its business through the direct selling model in markets with very stringent direct selling and consumer protection regulations like the USA, UK, China, Malaysia, Singapore, Vietnam without challenge or inhibition maintaining the highest levels of probity, integrity, corporate governance and consumer protection standards, it said.
http://profit.ndtv.com/news/corporates/a...

jitu moni

4 years ago

http://www.forbes.com/sites/peterjreilly...
4/28/2014 @ 9:58AM |2,476 views

Tax Court Denies Amway Losses - Again
It’s been a while since I’ve seen a Tax Court decision about Amway losses. Several years ago I did a study of all Amway cases. The taxpayers almost always lost and generally for the same reasons. The case of Samer and Mariana Mikhail, decided this month, does not break any new ground. The taxpayers were representing themselves and the stakes were fairly low – deficiency of $8,286 for the year 2009.

What is Amway all about?

I attended an Amway presentation many years ago. Apparently things have not changed that much. Amway markets a variety of consumer products through a direct marketing system. The participants are referred to as IBOs (Independent Business Owners). According to its website, Amway has paid out over $40 billion in bonuses and incentives to IBOs since 1959. The key to success as an Amway IBO is not so much selling the product yourself as it is recruiting other people (your down-line), who recruit other people and so on. You get a piece of the action for everybody down line to you just as your upline gets a piece of the action from the sales you generate.
Video: Amway's Global Growth Strategy Jennifer Rooney Jennifer Rooney Forbes Staff
Drag Racing And Horse Breeding In The Same Case - At Least They Didn't Try Amway Peter J Reilly Peter J Reilly Contributor
Track Star Ryan Bailey's Coach Beats IRS In Tax Court Peter J Reilly Peter J Reilly Contributor
Horse Breeders Win in Tax Court Peter J Reilly Peter J Reilly Contributor

The Tax Court explains it this way.

Amway’s compensation system for distributors results in a pyramidlike network of distributors. Under this system an “upline” or “sponsor” distributor is encouraged to recruit new “downline” distributors to become part of his or her organization. “Downline” distributors likewise are encouraged to recruit new distributors who in turn become “legs” of the original “upline” distributor’s organization. “Downline” distributors recruited by the same “upline” distributor are referred to as “crossline” distributors. An “upline” distributor receives bonus payments from Amway based on the volume of sales (as opposed to profits) generated by the “downline” distributors who are part of his or her organization.

How did it work for the Mikhails?

Dr. Samar Mikhail is a physician employed by the US Department of Veterans Affairs. In 2007, the final year of his residency, he earned about $64,000. From 2008 to 2011, his earnings went from about $145,000 to about $165,000. Mrs. Mikhail has had some short-term part-time jobs but has mainly been a homemaker.

Dr. Mikhail was recruited in 2004 by his dentist. He did some research and concluded that the negative assessments you will read about Amway are attributable to individuals “who did not follow the system”. Apparently the Mikhails decided that they would “follow the system”.

Petitioners conducted their Amway activities in accordance with instructions from their “upline” distributors, educational materials obtained from an Amway-related educational system known as Leadership Team Development (LTD), and information obtained while attending Amway seminars, workshops, and conferences. Petitioners did not seek advice from disinterested professionals, develop a business plan, prepare profit projections, or undertake any type of market analysis.

Petitioners attended weekly and monthly Amway meetings held locally and elsewhere in Florida. During 2009 they attended five national Amway.

The part I highlighted is a tip-off that the case is not going to go well for the Mikhails. Tax Court judges are big believers in business plans.

Dr. Mikhail testified that the time he devotes to Amway activities is largely directed at recruiting new distributors. He further testified that he usually spends his lunch hour, as well as an hour or two after work, and approximately three hours every weekend on Amway activities and that Amway is always “at the forefront” of his mind. Dr. Mikhail spent more time on Amway activities than Mrs. Mikhail.

Mrs. Mikhail testified that she is responsible for bookkeeping, business management, and organization of Amway parties and events. During 2009 she maintained records of the couple’s Amway-related expenses including a mileage log, a spreadsheet listing monthly expenses, and credit card statements. Petitioners did not use their Amway records to prepare a formal budget or conduct a break-even analysis.

Petitioners initially attempted to recruit family members and friends as “downline” distributors but found that most of them were unable to “overcome their life circumstances and continue to build Amway with us”. Petitioners later altered their recruitment strategy by frequenting upscale restaurants and shopping areas and striking up conversations with people they encountered with the aim of identifying what they termed “learners”. Petitioners purchased books and CDs from LTD and gave them to potential recruits.

The Mikhails posted losses in every year from 2005 through 2011. All in, there was less than $30,000 in revenue and a total net loss of $192,427

The Decision

The Court starts off with the classic nine factors.

These factors are: (1) the manner in which the taxpayer carries on the activity; (2) the expertise of the taxpayer or his advisers; (3) the time and effort expended by the taxpayer in carrying on the activity; (4) the expectation that the assets used in the activity may appreciate in value; (5) the taxpayer’s success in carrying on other similar or 4 dissimilar activities; (6) the taxpayer’s history of income or losses with respect to the activity; (7) the amount of occasional profits, if any, which are earned; (8) the financial status of the taxpayer; and (9) any elements indicating personal pleasure or recreation.

They pretty much went 0 for 9.

Although petitioners kept records of their Amway expenses, they did not use those records to analyze their business performance or to prepare profit projections, a break-even analysis, or a formal budget.

Petitioners obtained advice only from “upline” distributors—persons who had a direct financial interest in the maximization of petitioners’ sales volume, without regard to whether they would realize a profit.

Under the circumstances, we conclude petitioners did not spend a significant amount of time on the Amway activity.

Petitioners had no prior experience engaging in a direct marketing distributorship or managing a small business of any sort.

Although petitioners testified that they believe the Amway activity will eventually generate profits, we cannot discern on this record any definitive trend to the upside for petitioners, and there certainly is no indication that they are on their way to the level of profitability that would allow them to recoup the substantial cumulative losses they have incurred to date.

The record shows that petitioners used their Amway distributorship as a means to generate deductions for essentially personal expenditures and to enjoy discounts on items they purchased for personal consumption. The availability of consumer product discounts for personal use merchandise is a factor supporting the conclusion that petitioners lacked a profit objective.

We also note that petitioners (1) traveled together to attend Amway seminars and conferences in various cities, (2) took trips to New York and Texas to discuss Amway with family and friends, and (3) hosted meetings that had a social component. All things considered, we conclude that petitioners derived personal benefits and pleasure from the Amway activity. This factor weighs against petitioners.

About Being An Amway IBO

It is not hard to find a lot of criticism of the Amway IBO experience. According to the critics most people don’t make any money and the big earners make most of their money from selling motivational tools to the wannabees. Then you will find critics of the critics. I have determined to remain agnostic on that issue. The record in Tax Court is somewhat supportive of the critics, but of course there is a sampling problem. Successful Amway IBOs will not end up in Tax Court defending year after year losses.

The most colorful critic is probably the author of Married To An Ambot. Of course there are those who question her sincerity. I have decided not to have a dog in that fight, but to stick with what I read in original tax documents, which allows me to formulate some advice that is sound regardless of what the “truth about Amway” is. It boils down to two suggestions.

My Suggestions.

My first suggestion is that if you want to have a side business to make personal expenses deductible (which is something that you should not do at all, by the way), Amway is about the worst thing to pick. People with persistent Amway losses do not do well in Tax Court. The other is that if you expect that a side activity will ultimately be profitable, you might want to consider suspending the losses under Code Section 469. Although, in principle, this does not immunize you from being attacked under Section 183, as a practical matter it does since you are not getting a current benefit. You will get the benefit when the activity becomes profitable or you abandon it.

You can follow me on twitter @peterreillycpa.

Note

The case has not attracted much notice. Joe Kristan wrote

I avoid multi-level marketing clients because their “profit” so often comes from putting personal expenses on Schedule C. It sure seems that way here.

The Tax Court declined to impose penalties, citing taxpayer maintenance of good records and reliance on a CPA to prepare their returns. Considering that the Tax Court has upheld penalties for taxpayers who are more sympathetic than a doctor deducting his car, it’s somewhat surprising. It shows that even if you can’t show a profit motive, using good records and a preparer can at least help avoid penalties.

jitu moni

4 years ago

Amway's Claims Are Malarkey, Distributors Say
By MATT REYNOLDS

LOS ANGELES (CN) - The world's largest Amway distributors expanded their business from Taiwan into Chinese communities in the United States, defrauding their new clients with promises of "enormous profits," nine Amway sellers claim in court.
Lead plaintiff Longsheng Lei and eight other of the self-described "most successful distributors in the entire Amway organization" sued Amway and husband-and-wife Amway distributors Barry Chi and Holly Chen in Superior Court. They allege breach of contract, fraud, false advertising, unfair competition, unjust enrichment, conversion and negligent misrepresentation.
"Defendants, husband and wife Barry Chi and Holly Chen are the single largest Amway distributors in the world," the lawsuit states. "Barry and Holly's network has spread from her base in Taiwan to Chinese communities in United States, including the Southern California region."
Chi and Chen persuaded the plaintiffs to attend their seminars and become "independent business owners" through Amway's pyramid selling structure, Lei says.
According to the 14-page lawsuit, the husband and wife made "false promises of enormous profit" and Chen told seminar attendees that she has so much money she "doesn't even know how much she makes."
Lei claims that although the defendants promised she could make hundreds of thousands of dollars or even millions in commissions, the reality is that Amway knows its business owners make closer to $200 a month.
She claims that Amway and Chen and Chi, like other high-level distributors, make most of their money through the sale of "non-Amway" motivational books, tapes and seminars.
Lei claims that after she became an independent business owner in 2011, Amway falsely accused her of using other Amway sellers to send products to an Army base in Texas.
Another distributor, plaintiff Hui Cao, was accused, with scant evidence, of selling Amway products through Amazon storefront, Platinum Wire, according to the lawsuit.
Amway suspended Lei's registrations and withheld Cao's commissions even though Amway represents to distributors that they work for themselves and are not "bound one to the other in any other relationship other than that of an independent arm's length business relationship," the lawsuit states.
The plaintiffs seek punitive damages and costs and are represented by Long Liu of San Gabriel.
Amway did not immediately respond to a request for comment.
http://www.courthousenews.com/2014/04/29...

jitu moni

4 years ago

Amway's Claims Are Malarkey, Distributors Say
By MATT REYNOLDS

LOS ANGELES (CN) - The world's largest Amway distributors expanded their business from Taiwan into Chinese communities in the United States, defrauding their new clients with promises of "enormous profits," nine Amway sellers claim in court.
Lead plaintiff Longsheng Lei and eight other of the self-described "most successful distributors in the entire Amway organization" sued Amway and husband-and-wife Amway distributors Barry Chi and Holly Chen in Superior Court. They allege breach of contract, fraud, false advertising, unfair competition, unjust enrichment, conversion and negligent misrepresentation.
"Defendants, husband and wife Barry Chi and Holly Chen are the single largest Amway distributors in the world," the lawsuit states. "Barry and Holly's network has spread from her base in Taiwan to Chinese communities in United States, including the Southern California region."
Chi and Chen persuaded the plaintiffs to attend their seminars and become "independent business owners" through Amway's pyramid selling structure, Lei says.
According to the 14-page lawsuit, the husband and wife made "false promises of enormous profit" and Chen told seminar attendees that she has so much money she "doesn't even know how much she makes."
Lei claims that although the defendants promised she could make hundreds of thousands of dollars or even millions in commissions, the reality is that Amway knows its business owners make closer to $200 a month.
She claims that Amway and Chen and Chi, like other high-level distributors, make most of their money through the sale of "non-Amway" motivational books, tapes and seminars.
Lei claims that after she became an independent business owner in 2011, Amway falsely accused her of using other Amway sellers to send products to an Army base in Texas.
Another distributor, plaintiff Hui Cao, was accused, with scant evidence, of selling Amway products through Amazon storefront, Platinum Wire, according to the lawsuit.
Amway suspended Lei's registrations and withheld Cao's commissions even though Amway represents to distributors that they work for themselves and are not "bound one to the other in any other relationship other than that of an independent arm's length business relationship," the lawsuit states.
The plaintiffs seek punitive damages and costs and are represented by Long Liu of San Gabriel.
Amway did not immediately respond to a request for comment.
http://www.courthousenews.com/2014/04/29...

jitu moni

5 years ago

All that glitters is not gold in network marketing
CNN-IBN
Feb 26, 2008 at 11:35am IST

Software professional A V S Satyanarayana changed gears to become an Amway distributor only to realise he could not steer his life anymore. “What they publicise and talk inside are completely different. It is very much illegal. You can’t force your consumer to buy certain things and you can't force another consumer to utilise these things,” says Satyanarayana.

When his family life started to come apart Satyanarayana opted out but not before filing a FIR against Amway India Enterprises with the CID in Hyderabad. “I expressed my unwillingness to continue in the scheme and inability to enroll other member. They approached my family members and office subordinates and started to harass them to join in the scheme on my behalf,” says Satyanarayana.

“Amway confuses distributor as consumer, consumer as distributor. If consumer raises his voice and says this product is costly and suddenly they say you are a distributor you can't talk and if you go as a distributor say you need low prices,” Satyanarayana.

Loss or gain

A CNN-IBN investigation sought to find out the truth about multi-level marketing. It met a couple whose children sank their retirement benefits into network marketing. Dr Umamaheshwar Rao, a retired scientist, and his wife were initially supportive of their children's venture.

“For over five or six years they were into the business. I went along with them supported them in every way financially, physically and morally, but in the end it was found to be a losing game by themselves,” says Rao.

The expenditure was guaranteed but not the income. “The net result is a loss. The sales were less and the money spent in the game was more.” The family lost several lakh rupees even as their children drifted away.

PAGE_BREAK

“It ruined our inter-personal relationships. People were cult controlled in immeasurable ways,” says Rao, who has filed a public interest litigation (PIL) for action against Amway.

In Percherla village, in Andhra Pradesh's Guntur district, the CNN-IBN investigation met more families who accuse network marketing companies of exploiting their ignorance and illiteracy.

Anasuya is a tailor. She has been dealing with angry neighbours ever since she got them to join the network-marketing scheme of Pearls Agrotech Corporation. “They told me pay Rs 1,365 per annum and after five and half year you will get Rs 10,900,” says Anasuya.

“The agent pursued me and said if I get 10 members I will be paid more commission. They were even promised plots of land as payment. They gave bonds in which there is no money but a plot I don't know where this plot is,” alleges Anasuya.

People from Percherla have been duped into shelling out almost Rs 20 lakh for land that only exists on paper. In Ramadevi's case after this dud investment, her husband just walked out on her.

“The money I paid was without the consent of my husband that led to problems. My husband left home,” says Ramadevi.

When contacted Pearls Agrotech refused to comment.

The recipe for success

Like Indian companies, Amway has also found its way into the villages of Andhra Pradesh. Brammiah Addanki wanted to do better in life, and was told that by joining Amway he could achieve his dream of owning a concrete house.

Brahmiah and his wife earned just Rs 4,000 a month and they poured all of that to become Amway distributors. “They promised my wife air tickets. She was told to enroll more persons to earn her commission. We were also told these products would earn us a lot of money,” says Brahmiah.

They spent thousands on enrolling members and stockpiling products… including items they didn't even need. Till they realised that buying was easier than selling.

“Out of Rs 20,000 I only recovered Rs 5,000. We had to consume most of it ourselves because these items are too expensive for others in the village. We put our savings into this. We borrowed money, now we are in debt,” says Brammiah.

PAGE_BREAK

Gajulapeta in Ibrahimpatnam is full of families who have lost money chasing the promises held out by network marketing firms.

Baali, a daily labourer earning Rs 50 a day, mortgaged her house hoping to become a successful Amway Business Owner. “When they met me, they said it's a great opportunity to earn money. I didn't have spare money then, so I raised it by mortgaging my house,” says Baali.

“First I paid Rs 5,000, then Rs 2000 and then Rs 2000 again. Like this I paid Rs 50,000 borrowing on interest,” says Baali.

“Companies create a rosy picture saying you should become a member of multi-level marketing and you will get many things. They say you will get health as well as wealth,” says Divakar Babu, of the Consumer Guidance Society.

Baali, like most women in Gajulapeta, got none. She curses herself for not being able to look beyond the gloss. CNN-IBN then approached the woman who introduced Amway and roped in all her neighbors to do network marketing in this small village.

B Lakshmi didn’t know about the risks of network marketing and enthusiastically made a down line of 30 people. “They said it depends upon the number of people I can convince to join. I was told I could earn up to Rs 50,000 a month. I would start with Rs 5000 and by the end of one year it would be Rs 50,000,” says Lakshmi

To sail the seven seas, she even borrowed from micro finance schemes. Lakshmi and her husband's story will never make it to these brochures her husband is livid and the neighbors unforgiving…

When asked how they chose their distributors, in a written response, Amway admitted that no minimum educational qualifications were required. Self-belief and a strong desire to succeed in the long term was needed in the business, the company said.

Amway Response:

"The Direct Selling Industry does not "impose" any minimum desirable educational qualification"

"For distributors, self belief and a strong desire to succeed with a long term business perspective is needed"

http://ibnlive.in.com/news/all-that-glit...

jitu moni

5 years ago

Investor Alert: Beware of Pyramid Schemes Posing as Multi-Level Marketing Programs

The SEC's Office of Investor Education and Advocacy is issuing this Investor Alert to warn individual investors about pyramid schemes, a type of investment scam that fraudsters often pitch as a legitimate business opportunity in the form of multi-level marketing programs.

Have you ever been tempted by an advertisement or offer to make "easy money" or "online income" out of your own home? Multi-level marketing ("MLM") programs are promoted through Internet advertising, company websites, social media, presentations, group meetings, conference calls, and brochures. In an MLM program, you typically get paid for products or services that you and the distributors in your "downline" (i.e., participants you recruit and their recruits) sell to others. However, some MLM programs are actually pyramid schemes -- a type of fraud in which participants profit almost exclusively through recruiting other people to participate in the program.

Pyramid schemes masquerading as MLM programs often violate the federal securities laws, such as laws prohibiting fraud and requiring the registration of securities offerings and broker-dealers. In a pyramid scheme, money from new participants is used to pay recruiting commissions (that may take any form, including the form of securities) to earlier participants just like how, in classic Ponzi schemes, money from new investors is used to pay fake "profits" to earlier investors. Recently, the SEC has sued the alleged operators of large-scale pyramid schemes for violating the federal securities laws through the guise of MLM programs.

When considering joining an MLM program, beware of these hallmarks of a pyramid scheme:

No genuine product or service. MLM programs involve selling a genuine product or service to people who are not in the program. Exercise caution if there is no underlying product or service being sold to others, or if what is being sold is speculative or appears inappropriately priced.
Promises of high returns in a short time period. Be leery of pitches for exponential returns and "get rich quick" claims. High returns and fast cash in an MLM program may suggest that commissions are being paid out of money from new recruits rather than revenue generated by product sales.
Easy money or passive income. Be wary if you are offered compensation in exchange for little work such as making payments, recruiting others, and placing advertisements.
No demonstrated revenue from retail sales. Ask to see documents, such as financial statements audited by a certified public accountant (CPA), showing that the MLM company generates revenue from selling its products or services to people outside the program.
Buy-in required. The goal of an MLM program is to sell products. Be careful if you are required to pay a buy-in to participate in the program, even if the buy-in is a nominal one-time or recurring fee (e.g., $10 or $10/month).
Complex commission structure. Be concerned unless commissions are based on products or services that you or your recruits sell to people outside the program. If you do not understand how you will be compensated, be cautious.
Emphasis on recruiting. If a program primarily focuses on recruiting others to join the program for a fee, it is likely a pyramid scheme. Be skeptical if you will receive more compensation for recruiting others than for product sales.

The SEC has taken emergency enforcement action to stop alleged pyramid schemes that violate the federal securities laws, including schemes disguised as MLM programs.

For example, in a recently filed litigation, SEC v. CKB168, the SEC filed charges to stop an alleged pyramid scheme perpetrated under the façade of an MLM program for online children's courses. The promoters of the scheme allegedly solicited investors worldwide, including targeting members of Asian-American communities in New York and California. The SEC alleges that these promoters misrepresented CKB as a legitimate and profitable MLM company that sells web-based children's educational courses when, in fact, CKB has little or no retail consumer sales and no apparent source of revenue other than money received from new investors.

In an adjudicated settled action, SEC v. Rex Venture Group, the SEC shut down a $600 million fraud that duped approximately one million Internet customers through a complex investment scam involving a Ponzi scheme promoted as a daily profit-share pool and a pyramid scheme pitched as an MLM program for Zeekrewards.com, the self-described affiliate advertising division for zeekler.com, a penny auction website. The SEC alleged that, for the pyramid scheme component of the scam, the defendants promised bonuses and commissions to customers for enrolling in a monthly subscription plan and recruiting others to join the plan. However, according to the SEC's complaint, new customers' funds were pooled and used to pay recruiting bonuses to existing customers because there was no substantial legitimate revenue from product sales.

Pyramid schemes cannot be sustained and always collapse eventually. Protect yourself and your money by steering clear of any "opportunity" bearing warning signs of a pyramid scheme.

http://www.sec.gov/investor/alerts/ia_py...

jitu moni

5 years ago

meghpol.nic.in/alert/Alert_MLM.pdf

jitu moni

5 years ago

I. Money Circulation/Multi-Level Marketing (MLM)/ Ponzi Schemes/ Unincorporated Bodies (UIBs)

45. What are money circulation/Ponzi/multi-level marketing schemes?

Money circulation, multi level marketing / Chain Marketing or Ponzi schemes are schemes promising easy or quick money upon enrollment of members. Income under Multi level marketing or pyramid structured schemes do not come from the sale of products they offer as much as from enrolling more and more members from whom hefty subscription fees are taken. It is incumbent upon all members to enroll more members, as a portion of the subscription amounts so collected are distributed among the members at the top of the pyramid. Any break in the chain leads to the collapse of the pyramid, and the members lower in the pyramid are the ones that are affected the most. Ponzi schemes are those schemes that collect money from the public on promises of high returns. As there is no asset creation, money collected from one depositor is paid as returns to the other. Since there is no other activity generating returns, the scheme becomes unviable and impossible for the people running the scheme to meet the promised return or even return the principal amounts collected. The scheme inevitably fails and the perpetrators disappear with the money.

46. Is acceptance of money under Money Circulation/Multi-level Marketing/Pyramid structured schemes allowed?

No. Acceptance of money under Money Circulation/Multi-level Marketing/Pyramid structured schemes and Ponzi schemes is not allowed as acceptance of money under those schemes is a cognizable offence under the Prize Chit and Money Circulation (Banning) Act 1978.

47. Does RBI regulate Money Circulation/Multi-level Marketing/Pyramid structured scheme?

No. Prize Chits and Money Circulation Schemes are banned under the Prize Chits and Money Circulation Schemes (Banning) Act of 1978. The Reserve Bank has no role in implementation of this Act, except advising and assisting the Central Government in framing the Rules under this Act.

48. Then who regulates entities that run such schemes?

Money Circulation/Multi-level Marketing /Pyramid structured schemes are an offence under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. The Act prohibits any person or individual to promote or conduct any prize chit or money circulation scheme or enrol as member to its schemes or anyone to participate in it by either receiving or remitting any money in pursuance of such chit or scheme. Contravention of the provisions of this Act, is monitored and dealt with by the State Governments.

49. What if someone operates such a scheme?

Any information/grievance relating to such schemes should be given to the police / Economic Offence Wing (EOW) of the concerned State Government or the Ministry of Corporate Affairs. If brought to RBI notice – we will inform the same to the concerned State Government authorities.

50. Who can the Depositor/Investor turn to in case of grievances?

The two Charts given at Annex I and II depict the activities and the regulators overseeing the same. Complaints may hence be addressed to the concerned regulator. If the activity is a banned activity, the aggrieved person can approach the State Police/Economic Offences Wing of the State Police and lodge a suitable complaint.

51. Who has the power to take action against Unincorporated Bodies (UIBs) accepting deposits?

As per Section 45T of RBI Act, both the RBI and State Governments have been given concurrent powers. Nonetheless, in order to take immediate action against the offender, the information should immediately be passed on to the State Police or the Economic Offences Wing of the concerned State who can take prompt and appropriate action. Since the State Government machinery is widespread and the State Government is also empowered to take action under the provisions of RBI Act, 1934, any information on such entities accepting deposits may be provided immediately to the respective State Government’s Police Department/EOW.

Many of the State Governments have enacted the State Protection of Interests of Depositors Act in Financial Establishments, which empowers the State Government to take appropriate and timely action.

Section 45S of the RBI Act 1934 specifically prohibits unincorporated bodies like individuals, firms and unincorporated association of individuals from accepting deposits from the public if they are carrying on financial activity or are accepting deposits as their principal business. The Act makes acceptance of deposits by such UIBs punishable with imprisonment or fine or both.

The RBI Act, 1934, gives concurrent powers to the Reserve Bank and the State Government to obtain a search warrant from the Court to investigate the acceptance of deposits by such UIBs.

An Authorized Officer of the Reserve Bank or the State Government can file a complaint in a court of law against the unincorporated bodies and the individuals concerned for the offence.

http://www.rbi.org.in/scripts/FAQView.as...

jitu moni

5 years ago

State government notifies public against MLM network scams
Imphal Free Press
By Imphal Free Press May 17, 2011 21:00

IMPHAL May 17: In the aftermath of the financial devastation caused by certain networks namely Visarev, Unipay, Forex ,Global Index Daily which had swindled crores from scores of investors from the state, the government has finally addressed the issue.

A notification of the Finance department signed by V K Dewangan, commissioner has informs the public that Prize chits or benefit schemes only give advantage to the promoters and do not serve any social purpose.

Thus, the so called Multi Level Marketing (MLM), though called by very attractive names squarely falls within the definition of `Money Circulation Scheme` under the act and hence prohibited by the Prize Chits and Money Circulation Schemes (Banning) (Manipur) Rules, 1978.

The notification says that the general public should avoid and not enroll themselves into these schemes as they not only destroy the economic fabric of the state but also the fiscal system of the country.

Further, it also informed that MLM schemes destroy the knitted social fabric of our society and therefore, the public should not associate themselves with such companies. Citing previous cases of the Supreme Court and various other courts issuing judgments against the MLM`™s which are camouflaged illegal money circulation schemes, it mentions cases of Amway vs State of Andhra Pradesh, FMCG vs State of Tamil Nadu etc and in these cases, the judgments`™ passed clearly states that these types of schemes are prejudicial to public interest and also adversely affects the efficacy of fiscal and monetary policy as siphoning of crores take place without accountability.

In this regard, the department of Financial Services, ministry of Finance, government of India has directed the Directorate of Enforcement and Central Economic Intelligence Bureau for taking up appropriate action against these major financial scams. The Central Economic Intelligence Bureau, in turn has directed state governments for taking up appropriate action.

Further, it states that the general public, government officials and others concerned that the specific provisions under Prize Chit and Money Circulation Schemes (Banning) (Manipur) RULES, 1978 and relevant sections under section 420 of the Indian Penal Code are available to be invoked and effectively check and prevent progress of such dubious floated companies.

The notice further mentioned that Section 3 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 bans such schemes or participation in such schemes. Section 4 and 5 are penal provisions and prescribe punishment. Section 6 deals with offences committed by such companies. Section 7 authorizes police officers not below the rank of OC to exercise power to enter and search premises and to seize things used for such schemes. Section 8 provides for forfeiture of newspaper and publication containing money circulation schemes. The Preamble of 1978 Act declares that it has been enacted `to ban the promotion or conduct of prize chits and money circulation schemes and for matters connected therewith and incidental thereto`, it added.

The notice mentions that the easy prey is the middle class and loses all their savings even at the cost of their blood relations, with their kith and kin also being victimized. The worst sufferers in such schemes are often unemployed youths who lose their time, health, wealth in the wild goose chase. Such schemes have ultimately destroyed a number of families and friendships, it said.

http://kanglaonline.com/2011/05/state-go...

jitu moni

5 years ago

M/S. Transview Enterprise India ... vs Union Of India on 31 October, 2013
.....
3. Briefly stated the facts are: that the petitioner had imported "Amezcua Chi Pendant" said to be artificial jewellery from its supplier M/s. QNET Ltd., Hong Kong. Value of the goods was declared to be `4,47,45,092/- by the petitioner. Self assessment was made and system appraisal through Risk Management System and the petitioner paid duty of `97,46,340/- on 14.12.2012. The Bill of Entry was taken up for investigation by the Special Intelligence and Investigation Branch (SIIB) on information that the goods were misclassified and under valued. The goods were examined on 27.12.2012 at the warehouse, Customs Freight Station. It was found that the goods were 'Glass Pendant' and not artificial jewellery as stated in the Bill of Entry. It was also stated that they were "Made in Germany" and its country of origin was not Malaysia as stated by the petitioner. The 5

respondent-Department found that the classification was improperly made by the petitioner and that a higher rate of customs duty was applicable to the goods. On further investigation, the Department found that price of the goods were under valued by the importer and that there were several other deficiencies in the import.

4. The second respondent prima facie found that there was a mis-declaration on the part of the importer on the following grounds: a) Description

b) Country of origin

c) Classification

d) Existence of relationship with the supplier e) True transaction value

5. Under these circumstances, goods were seized by mahazar drawn on 11.01.2013. Thereafter, the petitioner sought release of the goods by its letter dated 01.02.2013. In the meanwhile, 6

WP No.19402/2013 had been preferred before this Court. Since the case required adjudication on the aforesaid aspects, the second respondent passed an Order under Section 110(2) of the Customs Act, 1962 extending the detention of the goods by further period of six months upto 10.01.2014.
http://www.indiankanoon.org/doc/14448451...

jitu moni

5 years ago

William Scott Pinckney vs Ut Chandigarh on 17 June, 2013
Learned counsel for the petitioner submits that the petitioner is an American national. He is Chief Executive Officer and Managing Director of M/s Amway India Enterprises Pvt. Ltd. incorporated under the Companies Act. The said Company has a turnover of Rs.2000 Crore per annum in India. The FIR was registered in the year 2002 and thereafter, the untraced report was prepared but due to variety of reasons all of a sudden, the CRM-M No.19553 of 2013 Investigating agency presented the charge sheet in the year 2012.
Petitioner William Scott Pinckney son of Bernard Ross Pinckney is permitted to leave India in accordance with the norms from 22.6.2013 to 29.6.2013 subject to his furnishing security by two Indian Directors of M/s Amway India Enterprises Pvt. Ltd. in the sum of ` 5 lacs each by way of bank guarantee/fixed deposit receipts to the satisfaction of the learned trial Court/Duty Magistrate, Chandigarh.
http://indiankanoon.org/doc/49506765/

jitu moni

5 years ago

Prithvi Raj Bijlani vs Ut Chandigarh on 17 June, 2013

Prayer in this petition is for grant of permission to petitioner Prithvi Raj Bijlani to leave India and visit abroad. The petitioner has been booked for the offence punishable under Section 420, IPC and Sections 3 & 4 of the Prize Chits and Money Circulation Schemes Banning Act, 1978 in three separate cases arising out of the one and same FIR.
The petitioner is an Indian national. He was Director of CRM-M No.19823 of 2013 -3- M/s Amway India Enterprises Pvt. Ltd. at the relevant time.
The petitioner is permitted to leave India from 21.6.2013 to 2.7.2013 subject to his furnishing indemnity bonds in the sum of ` 2 lacs with two local sureties to the satisfaction of the learned trial Court/Duty Magistrate, Chandigarh.
http://indiankanoon.org/doc/166252796/

jitu moni

5 years ago

Amway India Enterprises, vs Union Of India (Uoi), 19 July, 2007
...34. It is, thus, evident that the whole scheme is so ingeniously conceived that the inducement for aggressive enrollment of new members to earn more and more commission is inherent in the scheme. By holding out attractive commission on the business turned out by the downline members, the scheme provides for sufficient inducements for its members to chase for the new members in their hot pursuit to make quick/easy money. On the part of the promoter by pushing each member to achieve the minimum sales worth Rs. 2,000/- per month, (this sale includes enrollment of new members) he is assured of about Rs. 1000 crores per annum. All this squarely satisfy the description of quick/easy money. In addition to this, it is an admitted fact that each person in order to continue to be the distributor, shall pay renewal subscription fee of Rs. 995/- per annum. In para-11(b) of the counter affidavit on the admitted number of distributors of 4,50,000 this amount is calculated at about Rs. 45 crores per annum. These figures are not denied by the first petitioner in its rejoinder. The plea of the first petitioner that there is no compulsion that a member shall renew his distributorship looks to us to be specious. Once a person becomes a distributor in a scheme of this nature where the sops in the shape of commission are so luring, it would be very difficult for a member to withdraw from their membership to avoid payment of the annual renewal subscription fee.
35. From the whole analysis of the scheme and the way in which it is structured it is quite apparent that once a person gets into this scheme he will find it difficult to come out of the web and it becomes a vicious circle for him. In any event the petitioners have not specifically denied the turnover they are achieving and the income they are earning towards the initial enrollment of the distributors, the renewal subscription fee and the minimum sales being achieved by the distributors as alleged in the counter affidavit. By no means can it be said that the money which the first petitioner is earning is not the quick/easy money. By promising payment of commission on the business turned out by the down-line members sponsored either directly or indirectly by the up-line members (which constitutes an event or contingency relative to enrollment of members), the first petitioner is earning quick/easy money from its distributors, apart from ensuring its distributor earn quick/easy money. Thus the two ingredients are satisfied in the case of promoter too. We are, therefore, of the considered view that the scheme run by the petitioners squarely attracts the definition of "Money Circulation Scheme" as provided in Section 2(c) of the Act....

41. The complaint submitted to the CID Police, Hyderabad in this case is exhaustive. The complainant graphically described how the scheme run by petitioner No.1 through the other petitioners and various distributors in the country constitutes money circulation scheme. The gist of the complaint has already been extracted herein before. From the conclusion arrived at by us on the analysis of the admitted material available before us concerning the scheme, we have no doubt whatsoever that if the allegations contained in the report of C.No.1474/C-27/CiD/2006 dated 24-9-2006 are taken on their face value they make out an offence punishable under the provisions of Sections 4, 5 and 6 of the Act.

http://www.indiankanoon.org/doc/1369717/

jitu moni

5 years ago

Pushpam Appala Naidu vs State Of Karnataka on 6 May, 2010

This petition under Section 482 of the Code of Criminal Procedure, 1973 is directed against the proceedings in Cr. No. 28 of 2008 on the file of the I Additional Chief Metropolitan Magistrate, Bangalore, which after investigation is registered as CC No. 13035 of 2010 for the offence punishable under Sections 406 and 420 of the Indian Penal Code, 1860.

2. Petitioners are arraigned as accused. The circumstances leading to registration of such a case is that one Smt. Ayisha Begum, Petitioner 12, filed a report alleging that her neighbour Vazeer Vayathyulla Sharieff, had introduced her to M/s. Quest Net Company on the basis that he was working for it. He persuaded her to invest Rs. 30,000/- on the promise that she would get Rs. 1,000/- income per month. Believing his assurance she deposited the amount. He had actually assured other benefits also, but later it was found it was a trick to defraud the complainant. Cheating Was the main offence alleged apart from the charge under Section 406 of IPC.

3. On the basis of her report, investigation by CID resulted in filing of the final report. Petitioners 1 to 11 are summoned. They are ranked as accused 1 to 11. After lodging of the complaint the complainant-Smt. Ayisha Begum on her own volition sought to withdraw her report, but police officers have not allowed her since the final report has already been filed. Pursuant to filing of the final report case is registered in Criminal Case.

4. In the circumstance, the Petitioners have applied to this Court and the complainant has joined them as party array to support their cause. The complainant has also filed an affidavit in this case indicating that she has no interest in prosecuting the case as she has already received the entire amount invested. The learned Counsel for Petitioners would submit that in view of the fact situation there is no case made out to try them for the offence punishable under Section 420 or 406 of IPC or for Sections 4, 5 and, 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978.

5. On behalf of the State there is little or nothing to say in the matter because the complainant on whose complaint the case was registered and investigation was carried out by the CID, Bangalore has now recalled and withdrawn all allegations. This Court in similar circumstances accepted the plea of the accused and has quashed the proceedings as is evident from the order passed in Cri. P. No. 5607 of 2009, dated 13-11-2009 and also in Cri. P. No. 6600 of 2009, dated 18-12-2009. Since the same issue has arisen for consideration in this case and in view of the Complainant's stand that she does not intend to prosecute her complaint as she has already received the amount and as there was no intention to Petitioners 1 to 11 to defraud her, I am satisfied that no fruitful purpose would be served in continuing prosecution, which will undoubtedly fail in view of the stand taken by the complainant.

6. In the result, the petition is allowed. The proceedings in CC No. 13035 of 2010 on the file of the I Additional Chief Metropolitan Magistrate, Bangalore, are quashed.

At this stage, the learned Additional State Public Prosecutor Mr. Nawaz, submits that the order may be confined only to the Petitioners in this case.

Accordingly, the order would confine only to the Petitioners herein.
http://www.indiankanoon.org/doc/54266024...

jitu moni

5 years ago

Commission starts work in Gold Quest case

TIMES NEWS NETWORK

Chennai: Former Madras high court judge,Justice KP Sivasubramanian,who has been appointed as settlement commissioner by the Supreme Court in the Gold Quest cheating case,will submit a report to the apex court after a six-monthlong inquiry.
The multi-level marketing company is accused of cheating more than 30,000 people.Addressing mediapersons,Sivasubramanian said,Complainants can file their claims on or before May 31. The commissioner may issue notice to Gold Quest International Pvt Ltd and officials of Crime Branch CID (CB-CID ).
According to the police,CB-CID after completing investigation,filed a comprehensive chargesheet on March 2,2009.Police arrested 13 of the 25 accused and registered 11 cases.CB-CID attached properties including cash deposits and vehicles worth Rs 192 crore belonging to the accused and the company.The company was attempting to get the case closed by providing compensation to only about 200 persons mentioned in the chargesheet.Considering the plight of 32,011 complainants and other victims,CB-CID filed a special leave petition before the Supreme Court.The apex court appointed KP Sivasubramanian as the settlement commissioner on April 19.

http://lite.epaper.timesofindia.com/mobi...

jitu moni

5 years ago

Madras High Court
The State Of Tamil Nadu vs Goldquest International Pvt.Ltd on 7 March, 2008

...7. In the case on hand, though it is stated that the accused has settled the claims of several complainants and most of them have given necessary letters withdrawing the complaints given as against him, the element of criminality attached to the acts perpetrated by the accused on the date of complaints is not erased. It is also to be remembered that even the offences alleged against the accused are non-compoundable ones, except the one under Section 420 IPC. It is evident from the facts of the case that 172 persons were cheated by the accused, as against the terms and conditions entered into by them with the customers. Thus, when serious allegations of cheating general public of their hard-earned moneys, by giving false hopes and making use of such amounts collected from the public for self and gained at the public expense, are made against the accused, the learned single Judge is not right in quashing the FIR, merely on the ground that some of the complainants have withdrawn their complaints, forgetting the fact that the criminality attributed to the accused is not erased.

http://indiankanoon.org/doc/186639/

jitu moni

5 years ago

Madras High Court
Gold Quest International Pvt. Ltd vs The State Of Tamil Nadu on 9 April, 2003
..... 25. Nothing is placed on record regarding the foundation of the petitioner companies and the aims and objectives of the companies to achieve and how they are beneficial or serving the ends of the society or the general public and therefore needless to mention that only to cover up cases of such nature, Act 43/78 has been legislated by the framers of law revealing thereby the legislative intent to cover up cases of such nature with schemes which are not based on any ideal relying on one's effort, hard work or putting in the intelligence etc. but on luck or chance of making quick or easy money by lazy or lethargic means of enrolling members into the scheme only to enrich the organisers at the cost of the general public which are glaring in the schemes and there is no wonder the respondents have issued proper directions to their subordinates to be on the alert and to avoid innocent general public from falling a prey to the ill-motivated designs or alluring tricks and tactics adopted by parties like the petitioners by using those who fall a prey early being used as their canvassing agents for enlisting more number of the general public to join the scheme ultimately to enrich themselves at the cost of the innocent public who are sure to be cheated ultimately and since many such instances have proved to be utter failures in the recent times giving way for the public to be cheated of their hard-earned life saving monies. Prevention is better than cure. The preventive and punitive measures taken on the part of the respondents cannot, under any circumstance, be termed as either irregular or illegal or infirm or in violation of the norms of law. The respondents have rightly exercised their jurisdiction conferred by law in registering such cases wherein such unlawful activities are reported or brought to the notice of the respondents thereby promptly registering the case either under the relevant provisions of the IPC such as 420 or under the penal provisions of the Special Act such as the Prize Chits and Money Circulation Schemes ( Banning) Act, 1978 and thus they have only acted in adherence to the requirements of law and no such directions or orders as sought for to be made in the above petitions need be necessary in the circumstances of the case.

26. So far as the judgments cited on the part of the petitioners are concerned, in the first judgment by the Honourable Apex Court it is clearly held that `in the first place, it must be proved that he is promoting or conducting a scheme for the making of quick or easy money and secondly, the chance or opportunity of making quick or easy money must be shown to depend upon an event or contingency relative or applicable to the enrolment of members into that scheme', which are the ingredients of the relevant provisions of the Prize Chits and Money Circulation Schemes (Banning) Act, which are laid emphasis by the Honourable Apex Court and the Honourable Apex Court would also hold that the `scheme has necessarily to be judged as a whole both from the viewpoint of the promoters and also of the members in order to find out whether it is a scheme for the making of quick or easy money and any event or contingency relative or applicable to the enrolment of members into the scheme'. Therefore, it is incumbent on the part of the respondents to study each and every such scheme floated and exercise their jurisdiction and proceed against, provided the transaction is not above-board and is secretive or clandestine in nature and if the transaction is considered to be a scheme for making quick or easy money.

27. So far as the case in hand is concerned, on a overall consideration of the facts and circumstances of the scheme floated on the part of the petitioners, the respondents in their considered view have rightly arrived at the conclusion to hold that they fall under the purview of Section 420 IPC and under Section 4 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and hence they have given positive instructions to the law enforcing machinery and the police to register the cases wherever such schemes are floated. Therefore, the actions and prosecutions initiated by the respondents and their subordinates could only be concluded as within the permissible limits of their powers to register such cases and not in violation of any law or rule or norms.
http://indiankanoon.org/doc/267753/

jitu moni

5 years ago


Egypt Business Directory | 14.01.2012
Faith Carnival 2: QNet's "unbelievable" path to Financial Freedom
Over 20,000 men and women strong, QNet has managed to build itself an army in Egypt through their team “Faith”.
The Cairo Hockey Stadium was almost filled, as Independent Representatives (IR) from all over the country stormed in, creating an atmosphere close to the spirit of football-fans, including drums, fireworks, and flags. They all came to attend the second Faith Carnival on Friday, the 13th of January 2012, which should mark the beginning of a new era in Team Faith, Network Marketing and QNet as a whole.

The focus of the carnival was the promotion of Network Marketing, the refutation of economic, social and religious criticism directed at QNet, and the motivation and inspiration of the team.

Almost equivalent to Morton Rhue’s 1981 Novel “The Wave”, the attendees chanted their slogan in such unity, fierceness and willpower that made the floor seemingly shake; screaming out: “The V, the V, the V, Faith!” while shaping the victory-sign with their fingers and holding them up. “The V” refers to the partner company of QNet.

The carnival offered a mixture of party, education, success stories and fun, and hosted international speakers, artists and public figures, such as Michael and Mark Ferreira (Founders and Backbones of Faith), Dr. Ezzat Abo Ouf (Actor), Dr. Sherif Abo ElNaga (Vice-President of 57357 Cancer Hospital), Chief Pathman Senathirajah (Managing Director of V), Dr. Ahmed Farouk Ghoneim (Professor of Economy - Helwan University), Dr. Rashad Abdellatif (Professor of Sociology - Helwan University), Amr Diab (Singer), besides various Egyptian QNet leaders.

Network Marketing depends on the direct selling method in which independent agents serve as distributors of goods and services and start recruiting their customers as their own sales-force.

All speakers were certain that sooner or later, the whole world would join QNet, even those who opposed the idea at the beginning. “If your friends and family do not join today, be patient with them. They will join eventually. We are the warriors of freedom that offer them financial freedom, and when Allah gives this message of hope and power to you, you must have the responsibility and the humility to pass it on,” Mark Ferreira explained during the carnival, confirming that Egypt is part of changing Network Marketing history.

Ferreira’s father Michael focused on the pros of Network Marketing in his speech, clarifying it was much more efficient than other marketing tools, not only because it included no distribution costs, but also because it brought upon societal change and job security. Claiming that it was in the hands of Faith to change the lives of others and the economy of the country, Ferreira Sr. said that Network Marketing was not only about selling products, but also about building a network and army like “this one”, pointing at the 20,000 attendees. “When you have an army, you have an asset that will give you residual income,” he added.

To refute the controversial topic of QNet being against the principles of religion, and especially Islam, the organizers displayed a video showing Sheikh Ali AbdelBaqi, the Manager of the Islamic Studies Advisory Department, and Priest Dr. Sameh Hanna. Both confirmed that the services offered by QNet are not taboo, as long as they go according to the Sharia and the laws and rules of the country.

A lot of effort has also been put into clarifying the economic side and benefit of QNet, underlining that it does not ruin the economy, but rather invests in Egyptians by providing teamwork and social skills, which should lead to a better, service-focused economy in the future. Additionally, QNet does not apparently lead to saturation of people and products, since people do not leave their jobs for Network Marketing and the marketed, imported products do not replace Egyptian manufactured goods.

In the concluding speech, Malaysian expert Pathman Senathirajah boost the confidence of the attendees one more time by stating: “My passport is Malaysian, but my heart is Egyptian, because you built this network, this family and you made it possible despite the great challenges in your country. When people in other countries tell me that it is difficult to build up a business, I tell them: Go to Egypt and learn from the Egyptians.” He was also confident that Faith Egypt would be the number one QNet team in 2012, if they worked as hard as they did till now.

Amr Diab paid a great deal of respect to the “QNet-ers” during his concert, and actor Dr. Ezzat Abo Ouf said: “You should be proud of yourselves, since you are raising Egypt’s name high. You are the hope and future of this country and seeing you makes me optimistic and sure that Egypt will be better. Whole Egypt should stand by your side.”

QNet was established in Egypt in 2009 by Khaled Obbeya, Mohamed Abdallah elGendy, and Mohamed Magdy Allam, 11 years after the original business started in Asia.

Today, QNet is present in over 160 countries with over 8 million employees and over 20 types of services.

Other speakers during the event:
- Ashley Williams – QNet Product Trainer
- Noha Salem and Mohamed Tarek
- Mai Abdel Moneim
- Mahmoud Ghanem
- Khaled Obbeya
- Mohamed Abdallah ElGendy
- Mohamed Magdy Allam

http://www.egypt-business.com/News/detai...

jitu moni

5 years ago

http://pib.nic.in/newsite/PrintRelease.a...

Press Information Bureau
Government of India
Ministry of Corporate Affairs
30-April-2013 17:52 IST

Curb on Fraudulent Mlm Companies

Multi Level Marketing (MLM) Schemes involving enrollment of a vertical chain of investors/agents constitute “Money Circulation” and are banned under the Prize Chits & Money Circulation (Schemes)Banning Act, 1978 which is implemented by the States. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that in order to facilitate effective control of MLM, a Group of Officers from Ministries of Finance, Corporate Affairs & Consumer Affairs along with representatives of Reserve Bank of India, Central Economic Intelligence Bureau (CEIB) and the Serious Fraud Investigation Office (SFIO) have prepared Model Rules called Money Circulation Scheme (Banning) Rules, to explicitly cover MLM under the said Act. Ministry of Finance (Department of Financial Services) has sent the rules for notification to the States.

jitu moni

5 years ago

http://www.moneylife.in/article/qnet-eow...

QNet: EOW seizes documents from Vanmala's 'hidden' office

Moneylife Digital Team | 12/04/2014 06:13 PM |

After being named as accused in the Rs425 crore QNet scam, Vanmala shifted its office to undisclosed location. However, the EOW raided this secret hideout and seized important documents about the MLM operations of QNet

Economic Offences Wing (EOW) of Mumbai Police has raided a little known or 'hidden' office of Vanamala Hotels, Travels & Tourism Services Pvt Ltd, an associate of QNet India. The EOW has seized documents and computers used by Vanmala related with its vacation holiday packages sold to customers of QNet in India, say sources.

Vanamala had its office at Trade Centre in Bandra Kurla Complex (BKC). However, the tourism services provider shifted its office to an unknown location when it was named as an accused in the first information report in the Rs425 crore QNet multi-level marketing (MLM) scam.

Vanmala shifted its office to Lower Parel from BKC. However it kept the new address hidden even from its submissions in the court. Daryl Patrick Bisset, the chief executive of Vanmala has been found avoiding EOW and not forthcoming since past few months, the sources added.

During the investigation into the QNet scam, it was revealed that majority of the victims across the country were sold the "Holiday & Vacation Packages" from Vanmala.

In February 2014, the Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, registered a case in the Rs425 crore QNet scam for money laundering.

The ED has named 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'.

gurupreet

5 years ago

Vanamala/QNET runs away from Mumbai...

This is the message that was posted on http://www.vanamala-india.com recently...

Dear Members,

Due to service disruptions on our current hotlines, please refer to the following number should you have any queries: 0008006001144 or email us at [email protected]

We apologize for any inconvenience.

Is it a 'Simple" Disruption or there is more then meets the eye..The truth is their offices were raided by the EOW..effectively shutting down the whole operations of Vanamala in Mumbai.

The last time this message was posted after Vanamala's Payment gateways were blocked..

Important Announcement regarding Payment Gateway - INR Payments
Dear members,

We are experiencing problems with our Payment Gateway system. As such, please refrain from using it with immediate effect.

To know the alternate modes of payment you can use, please contact our Customer Experience Ambassadors at
+91-22-6139-9500 and they will assist you accordingly. Thank you.

The above mentioned PRI Line number +91-22-6139-9500 has also become un-operational

How good these white collared criminals are at sugar coating the real truth...Raids become "disruptions"...blocking becomes "problems"...shame on you all white collared criminals, you all should be tried for treason for your anti national activities.

jitu moni

5 years ago

http://www.hurriyetdailynews.com/default...

ECONOMY er-national
Ponzi scheme victimizes thousands in Turkey

ISTANBUL - Daily News with wires | 5/28/2010 12:00:00 AM |

The Turkey branch of an international Ponzi scheme that collected millions of dollars from thousands of people has collapsed after police raids against the company.

The Turkey branch of an international Ponzi scheme that collected millions of dollars from thousands of people has collapsed after police raids against the company.

Quest.net, which defines itself as an “international direct selling brand that utilizes network marketing combined with e-commerce,” victimized nearly 20,000 people in Turkey, according to government officials. The company, which is headquartered in Hong Kong, has been banned in many countries.

The scheme operates like an investment chain. People begin to invest an amount of money to be a part of the chain and then find new people to invest. The invested money is distributed between members while a big chunk of it flows up to the top of the pyramid.

The Quest.net system, which recruits members with the promise of becoming rich, has been banned in many countries including the United States, Iran, Albania, Sri Lanka, Malaysia, Indonesia and Afghanistan.

The Turkish Ministry of Industry and Trade has launched an extensive study on the issue, and nearly 60 members of the system have been taken into custody.

[HH] No official representation

The company does not have an office in Turkey. Nevertheless, it recruits members in home offices located in Istanbul districts, such as Bahçelievler, Kadıköy, Esenler, Zeytinburnu and Güngören.

The Ministry of Industry and Trade has filed a criminal complaint, alleging aggravated fraud, against Quest.net executives. The company has victimized nearly 20,000 people, taking millions of liras from them, said Minister Nihat Ergün, speaking to Anatolia news agency on Thursday. “The company has collected a great amount of money, varying between $570 and $2,500 from those people. Nearly more than 20 million liras have been raised,” Ergün said.

Turkey met with the Ponzi scheme in September 1997 with the “Titan” company. Hakan Kenan Şeranoğlu, who was previously a hairdresser in Germany, and his friend Vahit Gülal had established the scheme in Turkey’s western city of İzmir, collecting a total of 8.6 million liras from nearly 30,000 people. The founders and top executives of the system faced lengthy prison terms in 1998.

jitu moni

5 years ago

http://www.arabnews.com/saudi-arabia/%E2...

‘Suspicious’ Qnet banned

JEDDAH: Saudi Arabia has banned Qnet, a network marketing company, and said it would punish those involved in the suspicious business venture. “This network marketing activity involves deception of citizens and has been banned in a number of countries,” the Ministry of Commerce and Industry said.
The ministry urged Saudis and expatriates not to take part in the activities of such network marketing companies. It also advised the public to inform the ministry about individuals promoting such business by calling the toll-free number 8001241616.
“This business activity has not been registered with the ministry. Moreover, there have been official instructions in the past banning activities that involve deception and stealing others’ money through falsification,” it explained.
The ministry stressed that it would take all measures to stop this form of business activity in the Kingdom with the support of relevant agencies.
Qnet has introduced itself as the world’s largest and fastest-growing online shopping and business community. “Ever since 1998, we’ve been home to a new breed of healthy, happy and successful people of all ages, races, gender and socioeconomic status,” it said.
As an established, dynamic direct selling company, we provide the framework and tools that allow our members to actively raise their quality of life through value-added lifestyle products and through our network marketing business opportunity and attractive Compensation Plan, its website said.

jitu moni

5 years ago

stopqnet.livejournal.com

How to punish the creators of the pyramids? (QNet, get ready!)

Mar. 31st, 2014 at 5:10 AM

Not so long ago we listed seven common traits in the largest pyramid planet and QNet , and today there was another news about the structure of Isis: http://lenta.ru/news/2014/03/25/madoff/

The article is called "Five Madoff aides were convicted of fraud." The founder of the largest pyramid has long been sentenced to 150 years in prison, but it is obvious that he cheated people not alone. Investigators failed to prove the guilt of another five participants fraud. Below is the text of the article:

"The jury recognized five assistants creator Bernard Madoff Ponzi scheme guilty of fraud, Reuters reported on Monday, March 24. The jury found all five defendants guilty on all counts.

Case former aides Madoff court in New York saw more than five months. The defendants in the case were: former COO of Madoff Investment Securities LLC Bonvantr Daniel (Daniel Bonventre), traders Annette Bongiorno (Annette Bongiorno) and Joann Crupi (Joann Crupi) and programmers Jerome O'Hara (Jerome O'Hara) and George Perez ( George Perez).

Each of the assistants Madoff was accused of eight to twenty episodes. Sentencing is scheduled for mid-July 2014. The defendants face imprisonment and heavy fines.

Former chairman of Nasdaq stock exchange, Madoff was arrested in 2008, after it became clear that his foundation Madoff Securities is a pyramid scheme. In 2009, Madoff pleaded guilty to 11 counts of charges against him, including money laundering, perjury and fraud, and was sentenced to 150 years in prison. "

Pyramid QNet is much less than the pyramid Madoff, but has long been an eyesore Procurator many countries in the world . Once law enforcement agencies receive sufficient grounds to stop the activity and the pyramid too.

How many people are affected by QNet in Russia? It can be estimated from a recent press release b2blogger.com/pressroom/178266.html - it says that in Russia QNet took about 13 thousand people. Since in most cases known to us, they gave $ 2000 for the entry, you can evaluate the company's turnover in Russia is about $ 26 million (count how many of them you can earn ).

Let's count: 13,000 people in QNet - it's about 11-12 levels of the pyramid. Let's calculate their income:
- Lower level (about 6,500 people) gave $ 2,000 (net loss of $ 2,000)
- The next level (about 3,250 people) gave $ 2,000, but got back $ 250 (net loss of $ 1,750)
- The next level (about 1625 people) gave $ 2000, but got back $ 750 (net loss of $ 1,250)
- The next level (about 800 people) gave $ 2,000 but received $ 1,750 (net loss of $ 250).
A lot or a little? It would seem to lose $ 250 - not such a tragedy. But understand that if your personal loss of $ 250, the total loss of those you have invited is already 2 * $ 1250 + 4 * $ 1750 + 8 * $ 2000 = $ 25500 (25 and a half thousand dollars in damages your friends and family!).

This means that 6500 = 800 3250 1625 12 175 people were in the red. Not to mention more about mandatory spending on office rent (usually $ 200 per year) for annual payments for the bronze card (when they bought it, they were never told that it will be necessary to pay annually for about $ 100) and so on. Worse, these 12,175 people not only lost money, but also pulled their loved ones in the pyramid, so once they become ashamed because of this. So many friends lose forever.

Of course, QNet well earned and continues to earn many of these people. But if you realize that out of 13,000 joined the QNet in Russia more than 12 thousand people remained in the red, it is difficult to call it a business for students. This is a business for Chinese schemers who are using QNet pull money from many countries.

It is extremely important to understand that most of the participants are in the red QNet not because bad "work", but because of the principles of the apparatus of this pyramid (because of these principles Direct Selling Association classifies QNet to Russia disguised pyramids ). In the pyramids, the majority is always in the red, because the money from the air do not appear.

Warn your loved ones about this threat! Press the following buttons or talk to them on the phone or alive!

gurupreet

5 years ago

EOW RAIDS QNET SYSTEM MEETING IN MUMBAY BEING CONDUCTED BY "MR.BIJOY MATEHWS"..TEAM LEADER OF QNET.

This Morning QNET team Leaders had organised a Seminar/System at the following address and invited innocent people to induce them into this illegal money circulation scheme..the system was held at the following address:

Youthapreneurs Training Center, 605, Alpana Bldg, Opp Sarvoday Hospital, LBS Marg, Ghatkopar (W), Mumbai - 86

During the raid Mr.Bijoy Mathews was caught red handed promoting the illegal money circulation scheme in presence of 45 Odd people.

Ironically this Mr.Bijoy Mathews is the same person who has had cooled his heels in the jail for more then 20 days in the past for the same offence.

The officers of EOW detained and questioned several people and names and contact details of 47 people were noted down :)

I am sure the records of the activity today will lead to the cancellation of the bail of several team leaders of QNET.

Let me mention here that a similar activity was done by the EOW several months back when QNET leaders were holding a system meeting in Dadar, Mumbai and details were noted down. These details led to the arrest of Nine qnet leaders earlier.

So guys any guess who all will be arrested now after today's raid/activity?

Best guesses will win prizes ;)

Keep posting/replying...

Regards
Gurupreet

P.S Tomorrow is the Hindi New Year so my msg to QNET "Happy New Year" in advance...

After the ABA of your people are cancelled we will get the bails also cancelled wait and see...

jitu moni

5 years ago

http://english.ahram.org.eg/NewsContent/...
QNet: Not all pyramids make money for Egypt
Ahram Online explores controversial 'direct-selling' scheme that has become increasingly popular among Egypt's would-be entrepreneurs
Ahmed Feteha, Thursday 5 Jan 2012
"There is not such thing as easy money" this is one lesson some Qnet IRs learn the hard way.

"Let's face it – by the time you have financial security in your nine-to-five job, you'll be too old to enjoy the benefits."

It's with these simple words that a friend or family member might lead you to reflect on all they have achieved in their career, and then compare their success with your own more limited accomplishments.

They will, however, be quick to lift your spirits with the promise of a “business proposition” that will pull you out of your current “vicious circle.” And what is that business proposition? To join a network marketing scheme run by a company called QNet.

The idea is simple: buy a product from QNet through one of the company’s independent representatives (IRs) for around LE4000 ($666) and, upon purchasing, automatically become a company salesperson. You earn a commission if you’re able to market the company's products to other buyers, who also in turn become IRs.

There is a complex “tree” system in place that allows you to earn a commission whenever any of your recruits – or the recruits they have made – make a sale or enlist additional salespeople.

On the surface, it seems like an easy, guaranteed method of generating extra income – one that has become very popular in Egypt over the past two years.

But QNet has also been the subject of considerable controversy. Just last week, Egypt's head religious authority decreed that network marketing schemes like QNet are haram – proscribed by Islam – as they can be harmful to the economy.

Some former QNet IRs agree with this assessment.

"When you’re given the presentation by the IRs, you’re brainwashed into thinking it’s a guaranteed way to make money,” says Motaz Farrag, an ex-Qnet IR who now runs a Facebook group campaigning against network marketing. “But in practice, the chances of failure are much higher than the chances of success."

IRs receive training on how to give presentations about QNet "businesses.” The more experienced IRs coach newcomers in selling techniques, providing detailed answers to frequently asked questions.

"Those who joined the scheme earlier are the ones who make all the money because they get a commission on all subsequent recruits," Farrag explains.

To many, QNet's network-marketing system sounds a lot like a classic pyramid scheme – a charge the company vehemently denies.

"As QNet becomes increasingly popular, it becomes harder to recruit new participants," Farrag points out. “New members end up not being able to extend their network, but those at the top of the ‘tree’ make money anyway.”

He believes that the market will eventually be saturated as the number of participants outstrips population growth.

QNet has already been the target of official legal action in many countries.

In Sri Lanka, for example, the central bank enacted an Anti-Pyramid Act in 2005 that outlawed multilevel marketing schemes and employed existing bank regulations to stop pyramid scheme transactions in the nation’s banks.

“Direct selling,” the business model used by QNet, was banned in China in 1998 after becoming popular in the 1990s. "The sudden ban showed how concerned the government was about these independent distributor networks, with their door-to-door sales and motivational meetings," the Associated Press reported at the time.

In 2011, Turkey's Trade and Industry Ministry began an investigation into QNet’s Turkish branch, following reports of the company “victimising” employees. Other countries have seen QNet operations suspended due to licensing and tax issues.

The company, however, says its operations are comparable to multilevel marketing schemes that are legal in many countries. IRs often explain that the number of potential participants will never run out because older IRs can reinvest in their “trees.”

The company is also a member of the Direct Selling Association based in Malaysia.

Robert L. Fitzpatrick, a well known campaigner against pyramid schemes, explains that recruitment-based pyramid sales schemes are often camouflaged as “direct selling” companies, allowing them to multiply and gain access to more and more countries.

In general, the QNet scheme is marketed to potential recruits as an opportunity for those who want to start their own business without making a large investment or taking on overheads.

But critics say that, since the scheme always requires fresh recruits, and not only selling a product per se, QNet is – in practice – no different from a pyramid scheme.

QNet was in the media spotlight last week when Egypt's Dar Al-Ifta, the country's highest official religious authority, issued a decree or fatwa ruling the company’s activities haram.

Dar Al-Ifta justified the ruling by claiming that network marketing had a deleterious effect on the national economy. Network marketing “destabilises markets and ruins the concept of work. It also lacks proper legal and financial supervision," Dar Al-Ifta stated.

The negative economic effects of the scheme include an outflow of money from cash-strapped Egypt, a country where attracting foreign investments remains at the top of the economic agenda.

Blogger Sherwette Mansour explains that, if 60,466,176 people joined the scheme, total funds leaving the country in terms of joining fees would reach $60.5 billion (60 million recruits multiplied by an average joining fee of $1,000).

Members up to the level before last, meanwhile, will generate profits in the form of commissions. According to the scheme, IRs receive $250 for every six new salespeople they recruit, so total profits earned by IRs would amount to $2.5 billion, translating into a mere 4.2 per cent of the total amount invested.

Accordingly, QNet schemes provide little benefit for the country in question, as only a fraction of “business” returns are redirected into the local economy.

Nevertheless, QNet enjoys an established presence in several countries. It has offices in nine countries: including the United Arab Emirates, Thailand, Tajikistan, Taiwan, Singapore, Philippines, Indonesia, Azerbaijan and Hong Kong. According to its website, it has a franchise company in Turkey and has agents in Armenia, Jordan and three African countries.

Detailed information about the company, however, is not available. This includes the company's consolidated financial statements and the number of its employees and IRs.

Mansour, however, challenges the assumption that such huge numbers would enter the scheme in Egypt, since "this number of people entering the business is almost impossible because a small percentage of Egyptians can actually afford to pay the $1,000 needed to join."

The ruling by Dar Al-Ifta echoes criticisms made about QNet by many others, including former participants.

"The product in the scheme is irrelevant, so you end up buying something that is very overpriced just to join QNet,” says Ahmed Fouad, a 26-year-old engineer who participated in the scheme for just two weeks before quitting. “There’s no real value-added."

The products that must be purchased to join QNet range from watches to energy pendants, diet products, jewellery and overseas holidays. "You pay a ridiculously large sum of money for a watch that you can get much cheaper elsewhere and it's not even a well-known brand," Fouad says.

Recently, QNet began arranging "training" trips, in which groups of new recruits go on hotel retreats and are coached on selling techniques by more experienced members. But accounts by attendees of such retreats suggest the events have hardly been a resounding success.

"They took us to a gated residential compound and we had to do morning drills in which we stood in line for four hours with the trainers yelling at us," former QNet IR Ahmed Hassan says.

"They banned us from smoking, took our cell phones and woke us up at 5am. It seemed more like a military camp than a selling-skills course," the 25-year-old marketing graduate recalls bitterly. "After that I decided it was all too fishy for me."

Not all experiences have been negative, however, and some QNet participants have expressed satisfaction with their involvement in the scheme.

Recent college graduate Mohamed Saafan, for example, joined QNet more than one year ago after failing to find a steady job. "I’m fully dedicated to the business, which has gone well so far," Saafan explains. "It certainly beats just staying at home."

According to the 24-year-old aviation engineer, those who don't succeed at QNet simply haven’t put in enough effort. "People expect money to start flowing in as soon as they join – that's why many become disappointed quickly," he says.

QNet was established in 1998 with regional offices in Hong Kong and Malaysia, as well as offices in Singapore, the Philippines, Thailand and the UAE.

On its official website, the company describes itself as “a dynamic wellness and lifestyle company… to enrich the lives of its customers worldwide.”

jitu moni

5 years ago

http://english.al-akhbar.com/content/qne...
QNet in Beirut: A Pyramid of Cards?
By: Leah Caldwell
Published Sunday, January 29, 2012
Sitting in a Hamra coffee shop one evening, Bilal Ftouni chugs an American coffee as he tells me about his upcoming trip to Thailand that he purchased through a company called QNet. For US$600 – airfare not included – he gets a three-night stay for two people at a posh beach resort owned by QI Ltd., which is QNet’s parent company.

Bilal is an ambitious 23-year-old studying business marketing at the Lebanese International University. He’s excited to go to Thailand, but he was more excited about the opportunities that stemmed from his purchase. Once Bilal bought the Thai resort package from QNet, he was qualified to become an “independent representative,” or salesperson, for the company. “It’s a win-win philosophy,” he said. “You’re buying something nice and at the same time you’re starting a business with the company.”

QNet has been described alternately as a scam, a pyramid scheme, and a costly fraud, but despite its soiled reputation, it has found hundreds of followers in Beirut since it came here over a year ago. Founded in 1998, the Hong Kong-based company denies pyramid scheme accusations and describes itself as a legitimate multilevel marketing company that specializes in distributing energy and luxury products. In February, they will reportedly open their first Lebanese office in Beirut’s City Center Mall in Dawra. (QNet did not respond to inquiries in time for publication.)

Bilal explained that with every QNet product you buy – most of which cost a few hundred dollars – you open an “office.” This is not a physical office, but rather, a spot at the top of a chain (or pyramid, depending on your perspective) of sellers that you will recruit over time. You earn commission on their recruitment and in turn, on your recruitments’ recruitments, and so on. Over two months, Bilal was able to earn back his initial investment of US$600 and repay his younger brother the US$250 he initially borrowed from him. Bilal now has about 50 people in his network.

QNet’s business model will sound familiar to anyone who lived through the rise of multilevel marketing companies like Amway and Herbalife. At these companies, profits amassed at the highest levels of sales pyramids, but the legions of lower-level distributors were often left penniless and with a cache of obsolete and impossible-to-sell products. Unlike traditional salespeople that make commission on product sales, at QNet, the people are the products.

As pyramid schemes were outlawed in many Western countries, multilevel marketing companies set their sights on the “emerging” economies of Africa, Southeast Asia, and the Middle East, taking advantage of high rates of unemployment and lax government oversight. Yet since 2008, QNet and its subsidiaries have been subject to government or local authority investigations in India, Rwanda, and Afghanistan that allege fraud or tax complications.

QNet has fared slightly better in the Middle East. The company has a growing presence in the Gulf and Egypt, even sponsoring a recent Amr Diab concert, where the pop star sported one of the company’s “Chi pendants” around his neck. Despite this popularity, there have been criticisms of the company, with the Egyptian daily Al-Ahram reporting that the country’s Dar al-Ifta issued a fatwa in 2011 declaring QNet haram, or forbidden.

QNet’s Beirut-based followers speak optimistically of a coming boom for the company in Lebanon. Yet the company’s fate will largely hinge on whether Lebanon’s youth will be drawn in by promises of fast cash and the good life. So far, these promises – as well as QNet’s cultish life philosophy – have attracted a growing base of foot soldiers in Beirut.

Selling Dreams and “Hydratious” Water

QNet’s Beirut salespeople – or what the company calls “independent representatives” or IRs – are mostly driven young males and females eager to gain experience in business and make money. These roving groups of IRs can be seen in Hamra coffee shops practicing their sales pitches on each other and recruiting new members.

Opposing groups of QNet IRs in Beirut have carefully divided up turf amongst each other so as not to infringe on each others’ sales territory. Mehyo Farchoukh, a 24-year-old QNet IR, has staked out the Dunkin’ Donuts in Hamra, while Bilal and his group hang out at Brisk and Second Cup. Mehyo said that he and Bilal belong to separate sales chains, so “the people I get he doesn’t benefit from and the people he gets, I don’t benefit. You can say we’re like fisherman that are fishing in the same lake.”

Mehyo quit his job as a bar manager three months ago to work full-time for QNet. When I met him at Dunkin’ Donuts one night, he had already made two presentations, but with no luck. He remained hopeful that his third prospect – me – would sign on. “All we need is three sheets of paper, a pen, and a coffee place with Internet to show our plan to the people,” he said.

The “plan” is something that must be presented gradually and with care. For QNet members, they’re not selling products – they’re selling dreams.

If you’re approached by a QNet IR, you might be asked to write down your dreams and how much money it would take to realize them. QNet and other sales companies call this method of personalizing a sale prospecting. According to a prospecting guide written by QNet member Akhtar Qureshi of Saudi Arabia, “During prospecting we bring the person out of the COMFORT ZONE he/she has been living within! If the person cannot sleep well that night because of the disturbance created by our prospecting, [then] we are successful!” (Caps and Italics original.)

QNet IRs stress that they are helping people break free from the monotony of the corporate grind. They promise that you can be your own boss and have boundless opportunities to make money. But you’re also making a statement of individuality by setting yourself apart from the “sheep” who mindlessly work their dull jobs with no hopes and dreams of their own.

“The sheep will look from their side of the fence, they will look out and see the lion as it leaps, as it springs through the air from rock to rock as it bounds through the plains. [They will] say that is crazy and deep down inside they will say, is it not nice to be crazy?” said QNet founder Vijay Eswaran in a podcast.

Without these lofty promises, QNet would not have much luck selling its overpriced and obsolete products.

Like the pyramid schemes of the past, QNet has its own line of glorified trinkets. The most hyped product line is the “Chi pendants” that cost up to US$580 a piece and claim to energize your body, as well as protect you from harmful cellphone waves. I expressed skepticism to Bilal about the “Amezcua Straw Tube” that claims to make water more “hydratious.” He said that since I had never tried it I couldn’t judge. I asked if he had tried it. No, he said; QNet doesn’t give free samples.

The V: The Upper Echelons of QNet’s Pyramid

Before QNet, Bilal had worked as a cashier at his father’s grocery store and at a mobile phone company, but felt unsatisfied with the nine to five routine. After visiting his older brothers in Australia, he returned to Lebanon feeling depressed, but turned down his friend’s initial attempts to get him to join QNet. Eventually, his friend’s persistence paid off and Bilal joined QNet.

“QNet isn’t just about money or about getting commission, it’s a lifestyle,” he said. When Bilal listed his dreams for QNet, he wrote that in his first year he’d like to buy an Audi and in his second year, he’d like to make US$2,000 in commission per week. His ultimate dream though, like many other IRs, is to reach “The V.”

To the general public, The V appears to be QNet’s development and training wing, with its speakers touring the globe, encouraging IRs to just “believe” in QNet. Yet to QNet insiders, The V is a group of elite sellers who receive US$15,000 a week in commission. They are at the top of the pyramid. Mohammad Zakaria of Bahrain is a V council leader in the Middle East and heads the “Unstoppable” group, which consists of almost all the sellers in the region. According to Bilal, “All the Middle East is under him.”

The V sellers are every one’s “upline,” meaning that somewhere in the history of your sales pyramid, a V seller gave birth to a chain of sellers that ultimately reached you. The vampiric nature of this is a bit off-putting. As Bilal’s QNet friends stream into the coffee shop for a meeting, he points them out one by one, “That’s Rana, she’s my downline and there’s Nimr, he’s my upline.”

The V’s namesake comes from the migratory shape of Canadian geese and is supposed to symbolize “teamwork.” Yet The V’s version of teamwork doesn’t mean that all the rewards are split equally. For The V to keep making money, the network must continue to grow against all odds.

“In the end, Oscar Schindler did not focus on what he had achieved and said, I’ve already saved over 1,000 Jews so I’ve done enough...And in this context, no achievement is ever enough,” wrote Pathman Senathirajah, managing director of The V.

The “visionary” leader behind QNet’s motivational philosophy is its founder Vijay Eswaran. He’s a plump Malaysian of Indian origins with highly-arched eyebrows and a salt-and-pepper goatee. QNet describes him as a man who “embraces truth and spirituality with a kind of passion that's unknown to many,” but his transformation into a visionary leader hasn’t been without hitches.

Eswaran oversaw the company’s name change from QuestNet to QNet after the company’s subsidiary GoldQuest was booted from Chennai, India in 2008. GoldQuest allegedly defrauded thousands in a pyramid scheme that marketed coins with images of the Hindu God Jagannath on them. Over 4,000 people filed complaints against the company. Once the scandal broke, Eswaran and other employees of QuestNet distanced themselves from the gold coin venture and said that a few corrupt individuals were to blame.

Eswaran is the primary source of the company’s unending litany of inspirational acronyms, like RYTHM [sic] (Raise Yourself to Help Mankind) and MAD (Making a Difference).

“This is our year. We have to grasp this year. We have to turn it around. We have to make the impossible happen simply because it can, simply because it must, and simply because no one else has done it before...this is our year. This can and must be our year,” he said in his 2012 New Year’s message on YouTube.

Like a fortune teller, his messages and writings are vague enough to mean anything to anyone. The QNet IRs that I spoke with didn’t know about Eswaran’s checkered past, but didn’t seem to mind. They say they believe in his message and are determined to succeed. But what if they don’t succeed? Then maybe they just didn’t believe hard enough.

jitu moni

5 years ago

http://www.cbc.ca/news/canada/british-co...

Pyramid scheme victims win $6.5M in B.C. lawsuit
Search begins for missing money taken by Alan Kippax in vacation package investment scam

CBC News Posted: Feb 05, 2014 11:22 PM PT Last Updated: Feb 06, 2014 8:43 AM PT

A Federal Court judge has awarded $6.5 million to an estimated 2,000 investors who put money into the UltraLife Club through a Mississauga, Ont. corporation called Business In Motion International.

The company was run by Alan Kippax, who was first exposed in a CBC Marketplace investigation of a pyramid scheme that defrauded investors across Canada, including hundreds from B.C.

People attending meetings held by Kippax were asked to pay a $3,200 entrance fee to buy vacation packages worth $9,000 they could then sell to others.
Mark Cuzzeto

Burnaby resident Mark Cuzzeto launched a class action lawsuit after he lost $3,200 in a pyramid scheme run by Alan Kippax, winning $6.5M for all of Kippax's victims. (CBC)

Burnaby, B.C. resident Mark Cuzzetto says he just wanted access to cheap travel. Instead he was taken for a ride, losing thousands of dollars in the pyramid scheme. Cuzzetto was so upset he launched a class action lawsuit.

"We were all duped. I just wanted to see everybody get back what they put in," he told the CBC.

In fact, Kippax's vacation packages weren't even good deals. There were cheaper travel packages on the Internet and his business continually needed more recruits to keep profits flowing to those at the top — a scheme the court described as a classic pyramid scheme.
Alan Kippax

Toronto businessman Alan Kippax has been ordered to pay more than $6.5M to thousands of investors after a Federal Court judge ruled his business was a pyramid scheme. (CBC)

Yet when first approached by the CBC's Marketplace, Kippax maintained he'd done nothing illegal.

"Never once, ever, have I been charged for anything to do with any of what you're talking about," he told CBC reporters.

But in 2011, Kippax was charged with running a pyramid scheme — counts that are still outstanding.

The Toronto businessman has also had several other run-ins with the law.

In 2012, Kippax was charged with operating a grow-op. In 2010, he was found guilty of taking part in a fatal Toronto street race, a crime for which he served a year in jail.
Kippax recruiting

A CBC marketplace investigation looked at meetings hosted by Alan Kippax where investors were encouraged to purchase vacation packages they were told to re-sell for up to triple the price paid. ( CBC Marketplace)

Now, the U.K. citizen is facing deportation to Britain.

And the victory against him in court could be a hollow one. No one knows where the missing money went. Cuzzeto's lawyer says the hunt is on to find the the missing money before Kippax is deported.
"Someone must know where the money went. And I want people to tell me about that. Where is it? He couldn't have spent it all, so it's somewhere."

jitu moni

5 years ago

http://m.thehindu.com/news/cities/Hydera...

CID arrests two directors of a company on money circulation charge
Mar 19, 2014 12:47 AM , By Special Correspondent


Crime Investigation Department (CID) officials on Tuesday arrested two directors of RMP Infotec Private Limited on charge of organising money circulation scheme in the guise of multi-level marketing of some products.

A laptop, hard disks and documents were seized from the company’s head office in Chennai and customer care centre in Hyderabad, the CID Additional DGP, T. Krishna Prasad, said. While Rajesh J. Chandhan and Dileep J. Chandhan were arrested, two other directors -Praveen J. Chandhan and Dhawal J. Chandhan- were absconding.

The quartet started the company headquartered at Chennai claiming that they were distributors for some products. They enrolled persons purchasing products from them as distributors and offered money as incentive.

They claimed that RMP meant “Resource Money Power” and lured people to enrol with the company offering weekly payments ranging from Rs. 1,000 to Rs. 1.3 lakh based on the number of members the buyers manage to get inducted in the company.

The company was indulging in money circulation scheme by luring the public, Mr. Prasad said. Eight cases were registered against the company following complaints from Guntur and Prakasam districts. The CID Additional DGP cautioned the public against trusting such companies.
Watch video
http://www.youtube.com/watch?v=D7h8ei2w8...

jitu moni

5 years ago

http://stopqnet.livejournal.com/
(Translated to English)
Kokshetau again in the top of the news : in the regional center intensified financial fraudsters QNet

Mar. 3rd, 2014 at 5:32 AM

Quote from the site yvision.kz/post/227992:

And if the recent TV story on one of the channels has excited domestic other Kazakhs kokshetautsev then he certainly was not surprised . About the company «Qnet», however , the name varies from «QuestNet» to «GoldQuest» depending on the host country , in many heard , and some , mostly young people , already drawn into the orbit of its activities. Paint scheme of work of the organization is not necessary , in order to once again not excite immature minds greed . In short , the meaning of "business" is reduced to the original entry fee , purchase the money supposedly elite goods companies are often very expensive (120 th ) and its subsequent spread among friends . However , a new entrant to receive the income may involve only after a few more people, ie there is the classic " pyramid " scheme .

Interestingly , a native «Qnet» from Hong Kong , where the head office of the company. It was from the organization and launched an offensive on the wallets of citizens around the world. Naturally , the farther she moved to the mainland , the faster remaining behind closed branches and discredit . In the English-speaking Internet segment of this pyramid written a lot , in particular its activities are prohibited in Afghanistan and Pakistan , and Turkey, and several African countries are serious litigation. Lack of information about «Qnet» and in the CIS countries . Convincingly against this background that looks material information agency " Azeri -Press" from Azerbaijan. More convincing to quote a small part of it :

"In Baku defused transnational organized gang appropriated under the guise of the company « Quest net » manat owned 20 thousand citizens .

Found that this criminal network , which operated in the capital and regions of Azerbaijan under the guise of the company «Quest net», engaged in that giving false promises citizens to arrange their work , attracted people , mostly young people , to sell jewelry. Selling gold items weighing up to 3 gr ten times more of their real value - for 800-1500 dollars, they have earned a lot of money .

Everyone who buys the goods had to be written behind two more , which , in turn , did the same thing that led to the expansion of the network . In addition, the most active participants called "leaders" and promote the right to independent activities as head of sales . In order to gain the trust of people and engage in criminal networks even greater number of people in the office "firm" conducted seminars and practical trainings . Money received from the citizens involved in criminal network built in a pyramid , walked on high salaries for management.

Remedial studies have shown that the central office of the company «Quest net» is located in an offshore zone of Hong Kong (China). Of 20,000 citizens only 5100 received jewelry, and the remaining naive victim and left with gifts and promises of employment.

It should be noted that the value of gold items from 5 to 95 dollars periodically delivered to Baku and there were citizens who were taken money in advance . A small part of the funds collected was converted into a bank in Hong Kong and was directed to purchase cheap gold in Germany. The greater part of the money was cashed and assigned . "

It's nice that in the fight against financial pyramids are not asleep and Kazakh people . The official websites of the Ministries of Justice , Labour and Social Protection taken several queries about the legality of work and registering a company in the country. Particularly curious looks the answer to one of these questions on the blog of the Agency for Combating Economic Crimes and Corruption :

"... Your appeal Company « Qnet » considered.
Explain that, according to the official website , the main activity of the company registered in Hong Kong, is spread through the Internet and consumer goods.

Along with this, if the said company operates on the principle of financial pyramids ( raising funds from investors in a project , with a current yield lower rates to attract investment, and payment of deposits from investors not revenue (profit ) of the project , but from the new investors ) , a natural result of this situation is the bankruptcy and loss of recent investors.

In case of damage resulting from the company, you should contact the bodies of internal affairs or financial police in the community . "

As it became known , the other day in the regional center has already begun verification activities of the city prosecutor's office.

On the same resource is the development of this theme - http://yvision.kz/post/228384
Thence following text :

financial sect

Otherwise they will not name . Cleared up in his native homeland fraudulent pyramid is very similar to the destructive religious cults .

If you happen to see the followers of both , the fun " spot the difference " will not have to play . Burning eyes , relentless self-righteous certitude , the thirst to win over as many followers ... This is just a partial list of matches . But if the object of worship pseudo- doctrines serve different but very specific subjects , the financial pyramids pray unique deity - money.

It is gratifying , of course, that the fight against destructive sects today thrown considerable resources , until the adoption of a special law , the establishment of competent government agencies and community centers . Sadly only that the situation with the financial pyramids citizens are often left alone with their problems , although the spiritual and material harm to the population of scammers applied no less.

Today Kokshetau been active for at least three of these pyramids : «Qnet», «Emgoldex» and returned from oblivion "MMM" . And they work to keep pace with technological progress , rebase activities , including advertising , on the Internet . Who is the most uncontrolled space. In social networks, "My World" , "Vkontakte" and instant messaging services " [email protected] », «Skype» followers of these groups have launched a wide-ranging appeal.

An example of such advertising has led me to a friend, who tried to lure the pyramid through the "agent" girlfriend :

" Dean Kudibeeva ( 20.01.2012 10:29) :

- By the way, you did not hear about «Qnet»?

Ajgul Kaysina ( 20.01.2012 10:30 )

- What is it?

Dean Kudibeeva ( 20.01.2012 10:35) :

- Network business , and very real. In short , there you go into business and sign two more people and get the money . This is all summarized . If you want, you can go to her sister , she will tell all the details. You just have to listen well ...

Ajgul Kaysina ( 20.01.2012 10:59) :

- And you are certainly got ? .. "

In this dialog ( the names of heroes correspondence changed) until interrupted . Incidentally, the rare occasions when you will write strangers . The work is based on the effect of trust , so that you invite to the meeting will likely neighbors, friends or relatives . At their meeting , you are sure to fall under the charm, undergo hypnosis or neuro-linguistic programming, call it what you want. Zombie on greed can not resist it.

Warn your loved ones about this issue , so they are not lost in vain good relationships with friends and family , time and money !

jitu moni

5 years ago

http://stopqnet.livejournal.com/
(Translated to English)
Which country is focused QNet? As it migrates across the planet ?

Mar. 11th, 2014 at 5:50 AM

Let's make a list of countries in which the most popular QNet . This is interesting data , as they reflect on who is really focused this pyramid . For the analysis we use the data service traditionally http://www.alexa.com / siteinfo / qnet.net ( choose the country in which QNet included 10,000 most popular resources ) .

Country ( place in the ranking of the site of the country) :
1. Sudan ( 588 )
2 . Syria ( 1080) ,
3 . Romania ( 3390 )
4 . Algeria ( 3656 )
5 . Tunisia ( 5090 )
6. Egypt ( 6748 ) .

In November 2013 data were quite different :
1. Syria ( 825 )
2 . Egypt ( 2506 )
3 . Romania ( 2989 )
4 . Algeria ( 4602 )
5 . Morocco ( 6724 )
6. Nigeria ( 6806 ) .

The smaller the number in parentheses , the more popular poster QNet in the country. What do we see?
- Nigeria and Morocco needle jumped from QNet ( ran out of money at the simpletons , and banks are no longer allowed )
- Algeria until falls into the black depth ( QNet popularity grows slowly )
- Romania , Egypt and Syria began to think better of sluggish ( particularly well bounced Egypt )
- Sudan flew into Kunet with all his might .

The conclusion is obvious : lashing out at the country , QNet quickly drains of the most credulous of its citizens profit , then the popularity of his site is sharply reduced . Why would a site to be popular if anybody new can not recruit ? A recruit newcomers does not work, because all those who have money but lack the ability to think clearly , already dragged into this pyramid .

Still look a little further into the past - in August 2013 was even more interesting ( to watch only those countries that have entered into a thousand QNet by popularity )
1. Angola ( 35 )
2 . Botswana ( 98 ) ,
3 . Armenia ( 804 ) .

Note these three countries within a few months confidently flew from rating , giving leadership to other poor countries . QNet scheme works with the countries so - extracts maximum money in the shortest time , after which the activity is transferred to a new victim ( once at last ran out of money ) . Our task - to talk about weaknesses in the legend QNet, to as little as possible of Russian-speaking people affected by this parasite.

If " business QNet" was so white and fluffy , we are told at the presentations , the popularity of his site would not fall so sharply . Only a few months , and Angola, Botswana and Armenia came from QNet. Waited a few months - has been in Nigeria, Morocco and Egypt took off with his neck kunetovskogo parasite. How can this be explained if we start from the honesty scheme QNet? How can this be explained if "QNet so beneficial to join it ?" Yes can not be ! Main explanation recession popularity - refusal of banks to lend to the country students wishing to join QNet. Once there is no money , so immediately popular pyramid plummets. And this is quite logical.

Traditionally, the 11th of each month, we report on the development of our activities to combat QNet ( see February 2014 and the first half ) . Over the past month the following changes :
- Come to the site http://stopqnet.livejournal.com/ 4790 people ( 3723 from Russia , 292 from Ukraine , 148 from Kenya, 103 from Moldova , 65 from Armenia ) . A month ago, were the following data: 5470 people ( 4212 from Russia , 345 from Ukraine, 190 from Kenya, 99 from Armenia , 92 from Moldova , etc.);
- Come to the site http://stopqnet.blogspot.com/ 1056 people (one month ago was 850) .

This means that we were able to communicate objective information about the pyramid QNet approximately 5840 people ( about 195 people a day , or 15 a day less than last month's record ) . We would like to see the popularity of our sites has decreased to almost zero , as it would mean leaving the pyramid QNet from Russia. But for this to be more work . Some optimism on this subject is , but too early to relax .

Another finding presented at the beginning of the record set by leading kunetizatsii countries : it is dominated by states with lower levels of education and income . Remember the wisdom of " Want to be rich - to sell to the poor "? Here it's the same - kunet vparivaet their stuff on almost fake certificates , assigning a price tag , which is 100 times higher than the price for the same stuff in the usual online stores.

Fortunately, the former Soviet Union where many remained good education , so what kind of leadership you want QNet in Russia , Ukraine, Kazakhstan and other fraternal countries can not speak. But this does not mean that we can relax . We must warn those who do not know about the threat of QNet, so they do not accidentally run into it , as did the poor and unfortunate Sudan .

Click on the buttons below to help in combating this polusekte - polupiramide !

jitu moni

5 years ago

http://stopqnet.livejournal.com/
(Translated to English)
Stop QNet in Russia!
Tell us about the problems of the network to their loved ones that they were ready to psychological attacks QNet!
Mar. 19th, 2014 at 1:27 PM

Kazakh edition of Capital also decided to write about the pyramid QNet - http://kapital.kz/gosudarstvo/28001/fina...

Here is the beginning of the article "Pyramid schemes continue to operate in the Republic of Kazakhstan":

"Their creators are not afraid of criminal penalties.
Over the past few years, Kazakhstan has suppressed the activity of 23 financial pyramids . Number of victims of the scams has reached 5000 people at more than $ 1 billion. Such findings have led to the Majilis Committee on Legislation and Judicial Reform in Astana. According to information provided by the financial police of Kazakhstan, operational investigative practice suggests that during the last decade in Kazakhstan there were about 23 such companies. These organizations are designed for mass due to their involvement promised by large dividends.

So , on the eve of employees DIA West Kazakhstan region identified and eliminated " pyramid scheme " designed to steal money in large-scale enterprises and entrepreneurs in small and medium-sized businesses .

According to the Department of the Interior region , a native of the city of Uralsk for 5 years concluded with legal entities fictitious agreements giving them grants from USAID to develop small and medium businesses . Currently excited and investigated criminal cases on 9 episodes of theft by fraud of funds in a large scale. Cumulative damage deceived entrepreneurs made today more than 1 billion, which were cashed through second-tier banks .

Watch for $ 2,000
Similarly in Kazakhstan operates company Qnet, is profiled on e-commerce and network marketing. As reported in the Financial Police , promotion of goods supplied by the organization , not the purpose of the company and serves as an auxiliary mechanism for raising funds . Thus , in order to join the distribution network will need to purchase necessary goods (in this case - a watch worth $ 2,000 [Note stopqnet: interesting that the same watch from an authorized dealer is available in two times cheaper than in the pyramid QNet]) and further involve two customers. According to the report , the income obtained not through investments in goods and to attract new investors and funds.
According to information from " Wikipedia », Qnet is a member of the Direct Selling Association in Singapore, Malaysia and the Philippines , as well as a member of the Hong Kong Association of healthy nutrition and supplements Manufacturers Association of Singapore. In 2007, APLI, Direct Selling Association of Indonesia recognized GoldQuest ( aka QuestNet) pyramid scheme . The company responded that the allegations were unfounded and continued activity on the territory of Indonesia , where they are sending forwards state postal company Pos Indonesia. The company has offices in 23 countries , including India, Turkey , Armenia, Indonesia, Malaysia . QNET unknown in Europe , but as of December 2013 planned to deploy operations there. In Indonesia, Iran and charged with forming a financial bubble led to the closure of branches and the arrest of its employees. The company's activity was also suppressed by government agencies in Dubai and Azerbaijan. At the same time the company denies all charges , the charges against the company were also removed prosecutor Indonesia, with offices in Dubai and Baku continue to function .

As noted in the financial police , victims of fraudulent actions were treated with explanations about the legality of companies. But , despite this, the specific allegations against them are not followed , hoping to receive dividends on their holdings .

In Almaty , the organization conducts a successful operation for several years . Judging by the official group information in a social network "Vkontakte" , the company managed to attract thousands of followers to accomplish more than one training with top managers .

Lack of availability of the application in law enforcement makes the process a criminal case on the fact of damage . Separate offense for organizing financial pyramid existing Criminal Code does not provide . "
Active media well to restrain the pyramid in our countries. We already know of several cases of voluntary closure kunetovskih offices ( faced with the impossibility to recruit newcomers , they flee to the less educated region) . The same thing happens on a global scale - QNet moves from a poor and uneducated country to another. Fortunately, Kazakhstan, Ukraine, Belarus, Kyrgyzstan , Russia and many other countries of the former Soviet Union is still a high level of education , so here kunetovtsam easy.

We try to complicate them even more fraudulent activity by publishing information about weaknesses in the legend QNet. Help us in this ! Click on the following buttons to warn loved ones :

gurupreet

5 years ago

A Complaint from a QNET Victims..the same modus operandi used to cheat thousands across India :)

I think it is a GREAT time to form a QNET VICTIMS FORUM..who all want to take a active lead in it pls email me on [email protected]

Our Facebook address is:
https://http://www.facebook.com/groups/antiqnet/
[email protected]

Here is the Complaint..copy pasted :)

Dear Friends,

I wanted to share my personal story of trust, friendship, deceit , money and greed. In September 2012 I was talking to a friend (I doubt) on face book and he was very excited about his life and business and was saying how w...e can start the business, since I knew that person from college (2 years senior) and a Kashmiri, I started talking more. I was convinced that it was a good e-commerce business model since a BITSIAN senior is doing it , a well accomplished professional. On my vacation to India in Dec 2012, I met him and had a great chat, reliving memories of the past etc etc, and just on face value I joined the business (invested at least 4.5 lacs) in the business by buying products and got some credit into my account too. I was given assurance that my business will be bought back and money doubled after 3 years, if i do not want to continue. I was back in US in Jan 2013 and as expected I started doing the same., but slowly after talking to people and interacting with my senior I realized that business was MLM. It is projected that business is great, unlimited money, job is not needed and within 4 years people can gain financial independence, a farcical claim. In March due to some serious family situation, I asked to come out of the business and need my investment back and then things started to go south. I started hearing business and friendship cannot be mixed, i don't owe you anything, i did not force you go into business (no body does, it is trust and face value), i am lazy since i am not contributing to business. Finally it was decided that after 6 months i will get money and after six months phone is not picked, i am made to run from pillar to post to get my money back. I still have not got my money back. Subsequently i talked to lot of my BITSIAN friends, and all of them had been approached but none had accepted the business proposal.

The people engaged in business are well accomplished professionals, who project a great lifestyle, like uploading a great new car or great vacation pictures to make curious people ask questions and slowly woo into business (unethical). Friends like me who are targeted to create this false aura of business and great life. In their parlance it is called Prospecting.

Now the question is which company i am talking about, the company name is Qnet, yes the same company which is facing legal challenge in India for unethical business practices.

http://articles.economictimes.indiatimes...

http://www.mumbaimirror.com/mumbai/crime...

Please google Qnet Scam and the rest you will know.

Please do not fall into this scam and do not get fooled by Kuldeep Kaul (https://http://www.facebook.com/#!/kuldeep.kaul?fref=ts) and his partner Anuj Garg (https://http://www.facebook.com/#!/anuj.garg.5209?fref=ts) who run this scam out of GIP NOIDA and Cannought Place

Join in on our facebook page..and support the cause :)

Regards
Gurupreet

jitu moni

5 years ago

Retro News..
History always repeats itself..
Learn the Maths,
Get Insights from world over, i.e. US, Sri Lanka, Philippines, Chennai, Iran..
Only on
http://questnetscam.blogspot.in/
Tune in...

jitu moni

5 years ago

http://www.newindianexpress.com/states/k...

The proposed Kerala State Multi-level Marketing (Control and Regulation) Bill, 2013 to regulate multi-level marketing (MLM) in the state has irked the Indian Direct Selling Association (IDSA), that describes the Bill as one which “inhibits the growth of entrepreneurship in the business model of direct selling”.In a detailed e-mail response to ‘Express’ on the draft Bill, IDSA secretary general

Chavi Hemanth said: “Kerala Government’s recent initiative towards bringing out the legislation for directselling industry in the state has certain impractical provisions in it which inhibit the growth of entrepreneurship in the business model of direct selling. ‘‘Hence, we request the government to reconsider the draft and consult the industry stakeholders to assess the feasibility of the legislation.”

Significantly, the bone of contention is the section 13(3), the crux of the draft Bill, which restricts the distributors from appointing or entrusting persons below them to do the business.

This section intends to prevent the formation of pyramid model business plans, which is illegal under the PCMCB Act. However, according to IDSA, “this clause restricts the entrepreneurship opportunity provided by direct selling entities and kills the spirit of the industry”.

The IDSA comprises 18 members including Amway and Modicare. Meanwhile, Superintendent of Police J Jayanath, who was the member of the committee which prepared the Bill, took strong exception to IDSA’s allegation that the Bill kills the essence of entrepreneurship.“The Bill incorporates provisions for a free and fair conduct of MLM in Keralawithout violating the provisions of the PCMCB Act. Any registered MLM entity can recruit any number of direct sellers, who in turn can appoint any number of distributors under them.

By restricting further appointments below the distributor, the Bill only restricts the formation of a binary chain which is illegal. Then, how can one say that the Bill inhibits entrepreneurship?” he said.

Stating that direct sellers and distributors are synonyms as the business model of direct selling, IDSA has challenged certain key sections including registration of direct sellers, refusal of registration of direct selling entity and the relationship of agency “The government is trying to define the relationship between direct-level marketing entity, direct seller, distributor and consumer or customer shall be that of among the principal, agent, sub-agent and third parties, respectively. But as per the business model of direct selling, direct sellers are the independent sales consultant to an entity andhence has principal to principal relationship,” said Chavi Hemanth, adding that IDSA’s legal committee was currently working on the final draft.Countering IDSA’s view, Jayanath said registration was essential for MLM entities, direct sellers and distributors so that the government could monitor their functioning, initiate action against fraudsters and make the consumers aware of the whereabouts of the firms.

The draft Bill, prepared by the committee headed by Industries Secretary K S Sreenivas, is on public domain and suggestions can be made till 5.15 pm on February 15.

REPLY

gurupreet

In Reply to jitu moni 5 years ago

[email protected] Hemanth, these IDSA people chicken out if you ask them direct and pointed questions.

One of the questions put forward to Miss Chavi Hemanth from me was, Please make it mandatory for your IDSA members to reveal the failure rate of the distributors in the promotional material. This failure rate is more then 99%, no wonder she did not reply :P

jitu moni

5 years ago

http://www.kerala.gov.in/index.php?optio...

THE KERALA STATE MULTI-LEVEL MARKETING(CONTROL AND REGULATION) BILL, 2013
Chapter IV
CONDITIONS FOR DIRECT SELLING
15.
Conditions for direct selling by multi-level marketing entities.
-
19
Every multi-level marketing entity shall comply with the following conditions
in respect of their business, namely:
-
(a) It shall be a legal entity authorised to conduct business in India in accordance with the provisions of the laws in force.
(b) It shall have a registered trademark which identifies the entity, the goods or services to be supplied.
(c) It shall maintain records both manual as well as electronic, with complete
details of their goods, services, terms of services, price, income plan, details of
direct sellers under it and all relevant information about the company and business. The websites of a multi-level entity shall be updated regularly.
(d) It shall not require a direct seller or distributor to purchase any goods or
service or to pay any membership fee as a condition precedent for registration
or enrollment of director sellers or distributors.
(e) It shall not require the direct sellers or distributors to pay any money by
way of minimum monthly subscription or renewal charges.
(f) It shall ensure full refund of the price of any goods returned by its
consumers on the ground of any defect or inferior quality as against the information given by it regarding such goods, within thirty days of purchase.
(g) The income plan of a multi-
level marketing entity shall not be based on the number of new direct sellers registered or distributors enrolled. The
benefits received by any multi-
level marketing entity, direct seller or distributor shall be only as a result of selling goods or providing services and
shall not be in connection with the number of registration of direct sellers or
enrollment of distributors.
(h) It shall not require the direct sellers to enroll a minimum number of
distributors for the purpose of receiving any type of commission, incentive or
other benefits.
(i) It shall require the direct sellers and distributors under it to provide the
following informations to the consumers at the time of sale, namely:
-
20
(i) Name, address, register number or enrollment number and telephone number of the direct seller, distributor, as the case may be, and of the
multi-level marketing entity concerned;
(ii) A description of the goods or services to be supplied;
(iii) The Order date, the total amount to be paid by the consumer along with the bill and receipt;
(iv) Time and place for inspection of the sample and delivery of goods;
(v) A notice to the consumer of the consumer's rights to cancel the order
and to receive a full refund of sums paid;
(vi) Details regarding the complaint redressal mechanism of the multi-level marketing entity;
(vii) The direct sellers and their distributors shall at all times carry identity card issued by the Authority.

gurupreet

5 years ago

Pushpam Appalanaidu, MD of QuestNet India was arrested at Chennai International Airport following a look out notice from the Andhra Pradesh CID. Appalanaidu, a Malaysian, faces 21 criminal cases of cheating for duping investors for Rs160 crore

Immigration authorities at the Chennai International Airport has arrested Malaysian Pushpam Appalanaidu, who is wanted by the Andhra Pradesh police in several cases of cheating investors for around Rs160 crore through multi-level marketing (MLM) schemes. Appalanaidu was known as managing director of QuestNet India, the previous avatar of QNet in the country.

According to a report from The Hindu, the 50-year-old accused, Pushpam Appalanaidu, a Malaysian, faces 21 criminal cases of cheating and the Prize Chits Money Circulation Schemes (Banning) Act 1978 too was invoked against her.

"Criminal Investigation Department (CID) officials had issued a look-out to Immigration officials in Delhi, which was sent to all international and domestic airports in the country. The woman was caught by authorities at the Chennai airport as she was about to board a flight for Malaysia," the report says.

Appalanaidu along with four other accused had floated a MLM company and indulged in alleged illegal company activities by collecting deposits from investors in Andhra Pradesh by promising high returns, CID official told PTI.

Following police action, both QuestNet and GoldQuest, the multi-level marketing (MLM) companies run by QI group of Malaysia shut shop in 2009. They now call themselves QNet, which is also under the lens and the economic offenses wing (EOW) of Mumbai Police as well as Enforcement Directorate are probing the operations of the company.

In India, it was registered as GoldQuest International India Pvt Ltd in 2001. Elsewhere QuestNet Enterprises was registered in November 2004 in Chennai. Between them, they had offices at Bangalore, Mumbai and Hyderabad.

Although QuestNet’s claims about its legitimacy was an important part of its sales pitch, government agencies too were uncomfortable about its operations and at that time the Intelligence Bureau (IB) sent out a report questioning its activities to several government agencies.

Both GoldQuest and QuestNet used to sell a pair of limited edition, numismatic medallions for around Rs30,000 that were made in Germany. These had images of Indian deities, the ka’abah, Bhagwan Mahavir, the Pope and Mother Theresa; it also had coins for major world sporting events-in fact, it had coins for every interest group. The coins were sold through closed-group presentations led by influential people - doctors, lawyers, sports stars - and the products were pitched at those who can cough up Rs30,000 for a pair of medallions of doubtful value (limited edition coins don’t necessarily appreciate in value). The emphasis at these meetings was on establishing the apparent legitimacy of the scheme by displaying documents about its tax filing, apparent government permissions and its ISO 9001:2000 certification.

However, the selling point was not the value of the coins or their potential appreciation. Each buyer of coins, who puts down 30 grand, was supposed to persuade two others to join the scheme and purchase coins. When that happens, the originator gets back a part of his money in line with a detailed matrix, which is spelt out on its website without indicating the exact returns earned.

Coming back to Appalanaidu, during August 2009, JR Mayer, the managing director of QI Group sent an invite to Moneylife's managing editor Sucheta Dalal. Mayer, in the letter, said, "Due to the legal challenges that both the companies have been facing, in India for over a year now it has unfortunately led to both companies being forced to halt their operations and temporarily close down their offices. However the companies are by no means non-existent. Thus the MD of QuestNet India, Ms Pushpam Appalanaidu has not been in any position to make media statements or invite the media to an open forum to answer questions about the two entities."

QI group units were actually banned in 2009 while operating under the names of Goldquest International Pvt Ltd and Questnet Enterprises India Pvt Ltd. In fact, the Ministry of Corporate Affairs in its report for 2010-11 has specifically shown both these companies as being under investigation by Serious Frauds Investigation Office (SFIO).

The 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 also been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978, similar to Appalanaidu.

I am sure Mumbai EOW will bring her to Mumbai soon ;)

gurupreet

5 years ago

Friends,

Am reporting team leaders and active members of Faith, INFINITI/INFINITY, SOLITAIRE, GOLDEN PI, TITANS, WINGS, GALAXY, PLANETS, DREAM ACHIEVERS, GENGOLD, ASPIRATIONS, OCEAN etc.. If i missed any active teams in India, please email me on [email protected]

D-Day soon...

Love
Guru

gurupreet

5 years ago

When this fight began..i got personal INFO & Complaints regarding the TOP Leaders of QNET in India...but i desisted to expose them as my fight was against the SCAM and not against these individuals...

For e.x.

1. The top woman leader in India who got ABA in a old case by lying to a higher court..i was tempted to expose her but i got the info she was pregnant..so i decided to wait on humanitarian grounds...

2. AS whose mother FS was responsible for holding a seminar in marine lines and then later in dadar..and because of whose foolishness 8 TOP IR,s of Golden Pi Gang got arrested. The best part is that the same FOw*** S was responsible for the arrest of these 8 people, while she, her son and daughter escaped as part of the Dea*. Shame on these people who sacrificed their own people to protect her daughters wedding. I kept quite again on humanitarian grounds..cos it was a girls wedding...warna media would have had loved the story...

3. Ex wife of TOP leader who is absconding in dubai..could have had her used..but again i said..my fight is against the company and not individuals..so i kept quite..

So many other instances..but then Q poked their dirty nose into my personal affairs..and from now it is not JUST A FIGHT AGAINST THE QNET but now it is PERSONAL...lets have it...now wait and see what i do..

Q you will REGRET meddling into my PERSONAL PROBLEMS..

You have not seen the BAD times yet...

Love
Guru

gurupreet

5 years ago

http://www.dnaindia.com/mumbai/report-no...

The Bombay High Court on Wednesday refused to grant any interim relief to a clearing agent Transview Enterprise India Private Limited, whose accounts have been frozen for their alleged involved in the QNet scam worth over 400 crore.

A division bench of Justice N H Patil and Justice V L Achliya refused to allow the de-freezing of bank accounts of the company while hearing a petition filed by its director Suresh Chimeeri. The plea was argued by Advocate Niteen Pradhan who said that the company is a clearing agent for the company which imported good from Honkong to India and it has no further role to play in the alleged scam.

The Economics Offence Wing (EOW) has wrongly frozen the accounts and it should be de-frozen for the company to pay its statutory taxes of around 4 crore which include, Income Tax, Sales Tax, VAT and Custom Duty. Or else action under the penal provisions would be taken by the authority concerned.

Advocate Pradeep Gharat appearing for EOW opposed the petition on the grounds that investigations were still on and the accused was one of the prime accused in the case and no leniency should be shown to him. While the complainant in the case, Gurpreet Anand said that the company had taken out several crores from India as it is a Foreign Company and it would not be difficult for it to bring a small amount back into India to make the statutory payments.

The court after going through the entire arguments noted that it would finally hear the petition on March 6 and till then refused to grant any interim relief.

The EOW has arrested nine team leaders of QNet so far for allegedly duping investors by selling products like magnetic disks, herbal products and holiday schemes through fraudulent practises.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors. The accused were charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

http://www.dnaindia.com/mumbai/report-no...

gurupreet

5 years ago

"One man with courage is a majority."

gurupreet

5 years ago

Hello Friends,

Thanks for reporting your up-lines, now after the case has been registered by the ED time has come that all these properties,high end cars like the audis,bmw,s etc these qnetters used to flaunt will be attached.

I am sure the agencies are also keeping a watch on every one who is promoting and enticing people to visit malaysia for the V-Con.

Also these team leaders who have been for years using those credit cards and taking cash from innocent victims will be on radar..

Please send in more details of all the scamsters and white collared criminals on [email protected]

Regards
Gurupreet

gurupreet

5 years ago

Hello Friends,

Just got free, ED registered case of money laundering against QNET. I thank every one for the support shown.

I may not be able to come online for 2-3 days as i have to prepare for a bigger battle ahead and expose the names involved in this "pure money laundering scheme" called QNET.

I request active members to please try and counter any propaganda that QNET PR machinery will engage in the coming days in my absence.

Lets all fight this SCAM together and Layer by Layer lets all expose this money laundering scheme and expose its ugly under belly...

जिंदगी तो सिर्फ अपने कंधों पर जी जाती है, दूसरों के कंधे पर तो सिर्फ जनाजे उठाए जाते हैं.

I just came to know that QNET is again putting advertisements in leading news papers, this is highly un-auspicious for them, last time they advertised 8 IR,s got arrested and now they advertised again and they get case registered by ED..

आम तौर पर लोग जैसी चीजें हैं उसके आदी हो जाते हैं और बदलाव के विचार से ही कांपने लगते हैं. हमें इसी निष्क्रियता की भावना को क्रांतिकारी भावना से बदलने की जरूरत है.

The fight is not a easy and short one..but then this was known...

Jai Hind
Gurupreet

REPLY

jitu moni

In Reply to gurupreet 5 years ago

http://www.complaintboard.in/complaints-...

Qnet Products
Hi Dev

I was enrolled into Qnet in 2012, honestly didnt believe in the model even but had a friend who pressured me and i took the punt. I bought a holiday package for which i spent a fortune, again the idea was that even if i really didnt make any money i would rather go an utilize the holiday (5star holiday thats what i was told by a senior IR who i would like to name) I have travelled a fair bit and i landed in Thailand last year and checked into the property which i am sure you have sold as well. I dont know about how much you have travelled but the definition of 5star took me by surprise. It was worse than a guest house that too vegetarian!!

Well i really dont care about your business and neither was i interested in making money in it, but what i am interested is the sort of service standards or product standards the company has. Prana Resort was and is an embarrasment. To add to it i travelled to Antalaya as i live in the Middle East and happeded to check out the property there, this time i knew what to expect. It was a shoddy to say the least.

Now my friend i ask you, what does Qnet do about customer experience as i am not questioning ur model (Whether good or bad i dont care) Any business and company existing int he world today offers some sort of experience to its customer. Well the business you so strongly propagate and defend offers none of it.

I went back to Delhi and called my IR and asked him again this time he said and i quote "buddy its a guest house" (i was livid) & i questioned him, he did not have a thing to say other than the fact that i could make money. Now my point to many of your responses on product & business is that which business today openly bullshits to this end. I understand you mayhave a junior advisor of a fmcg/insurance company give you a story like that (well i hv workedin insurance 8 years) but a senior IR (who talked abt faith).

Let me honestly ask you one question and the only answer i seek - Will you ever pay about 50k for a guest house in thailand. Just a Yes or a No will be fine

Regards

Vidur

jitu moni

In Reply to gurupreet 5 years ago

http://www.business-standard.com/article...
Serious Fraud Investigation Office has so far filed prosecutions against 8 firms including Global Trust Bank and City Limouzines (India).

The agency, which comes under the Corporate Affairs Ministry, has filed the prosecutions against the defaulting companies and errant directors.

Prosecutions have been filed against eight companies related to 61 cases -- under Companies Act as well as IPC -- filed against them, Parliament was informed today.

The companies are Global Trust Bank, Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd, Jayant Vitamins Ltd, City Limouzines (India) Ltd, Palamoor Agro Complex Ltd (under liquidation), Ayushi Buildestates Pvt Ltd and Yusuf Properties Pvt Ltd.

Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd are suspected to be related to multi-level marketing firm QNet, which is currently under the scanner of Economic Offences Wing of the Mumbai Police.

In a written reply to the Lok Sabha, Corporate Affairs Minister Sachin Pilot said that out of the probe reports submitted to the government in the last three years and this year SFIO has secured convictions with respect to two companies involving 39 complaints.

Five directors of these entities were held guilty in such cases for multiple offences.

SFIO does not register cases against individuals but only takes up investigations "under Section 235, 237 or 239 of the Companies Act, 1956" as and when entrusted by the central government.

"Such investigations could bring out the role of individuals including the directors of companies under investigation," Pilot said.

Under the new Companies Act, SFIO would have statutory recognition which would help the agency to carry out investigations more comprehensively.

Meanwhile, the government has initiated various steps including induction of technology to improve investigation methods such as setting up a forensic lab at SFIO premises.

Towards strengthening inter-agency co-ordination, recently an Inter Ministerial Group (IMG) with members from Corporate Affairs Ministry, Department of Financial Services, Reserve Bank of India and Securities and Exchange Board of India has been set up to "deal with frauds by unscrupulous companies".

jitu moni

In Reply to gurupreet 5 years ago

http://www.business-standard.com/article...
Serious Fraud Investigation Office has so far filed prosecutions against 8 firms including Global Trust Bank and City Limouzines (India).

The agency, which comes under the Corporate Affairs Ministry, has filed the prosecutions against the defaulting companies and errant directors.

Prosecutions have been filed against eight companies related to 61 cases -- under Companies Act as well as IPC -- filed against them, Parliament was informed today.

The companies are Global Trust Bank, Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd, Jayant Vitamins Ltd, City Limouzines (India) Ltd, Palamoor Agro Complex Ltd (under liquidation), Ayushi Buildestates Pvt Ltd and Yusuf Properties Pvt Ltd.

Goldquest International Pvt Ltd, Questnet Enterprises India Pvt Ltd are suspected to be related to multi-level marketing firm QNet, which is currently under the scanner of Economic Offences Wing of the Mumbai Police.

In a written reply to the Lok Sabha, Corporate Affairs Minister Sachin Pilot said that out of the probe reports submitted to the government in the last three years and this year SFIO has secured convictions with respect to two companies involving 39 complaints.

Five directors of these entities were held guilty in such cases for multiple offences.

SFIO does not register cases against individuals but only takes up investigations "under Section 235, 237 or 239 of the Companies Act, 1956" as and when entrusted by the central government.

"Such investigations could bring out the role of individuals including the directors of companies under investigation," Pilot said.

Under the new Companies Act, SFIO would have statutory recognition which would help the agency to carry out investigations more comprehensively.

Meanwhile, the government has initiated various steps including induction of technology to improve investigation methods such as setting up a forensic lab at SFIO premises.

Towards strengthening inter-agency co-ordination, recently an Inter Ministerial Group (IMG) with members from Corporate Affairs Ministry, Department of Financial Services, Reserve Bank of India and Securities and Exchange Board of India has been set up to "deal with frauds by unscrupulous companies".

jitu moni

5 years ago

http://indiatoday.intoday.in/story/break...

5.15 pm: Enforcement Directorate registers money laundering case in Rs.425-crore QNet financial fraud case in Mumbai.

gurupreet

5 years ago

Hello Friends,

Last night me, my wife and my younger child met with a accident, by gods grace no one sustained any major injuries.

My son got saved because he had just got down from my Activa scooter and one person who was in full speed on a pulsar bike ran over our parked scooter.My wife sustained minor injury.

I dont know who was behind this accident/attack and hence i had to let go off that guy.

But one thing i know and that is there is one person who is my families savior and that is "GOD" almighty.

This video gives me strength to fight this giant evil called "QNET". Hope you all will like it..

https://http://www.youtube.com/watch?v=TbGqkRc8U...

Friends all these incidents will increase in the coming days, More cases will be filed against me but the fight has to continue...

There is no need to feel disheartened or to feel low as we prepared well for this fight, even if i were to remain absent for any reasons, Plan B will always take over as had happened in the last episode where i was illegally detained to keep me away from appearing on crucial dates in various courts, Plan B took over and was quite effective..

I hope you all like this inspirational song...

https://http://www.youtube.com/watch?v=t__AUZ9jd...

The attacks will continue...

The Fight will continue....

Jai Jai Matram
Gurupreet

gurupreet

5 years ago

********** Appeal **********

Dear Friends,

As the fight comes to the crucial stage we need some more info inputs from you all, I hope you will all come forward as in the past and help us.

We need the following information:-

1. Details of events/systems etc held in different cities by members of quesetnet/qnet/vihaan etc with dates and name of the venue, with photographs & Videos if available.

2. Names and IR,s numbers of the top leaders of Questnet/QNET all over India.

3. Details of these leaders like the house addresses, cars owned etc.

Please email us all the details on [email protected]

STOP THE SCAM
BE THE CHANGE

Jai Hind
Guru

gurupreet

5 years ago

Michael ferreira develops selective amnesia...says he does not remember anything and he never promoted the qnet scheme..he should be using the bio-shit i mean bio disc..will help him may be ;)

REPLY

ramila

In Reply to gurupreet 5 years ago

Poor Irs Of qnet ..michael ferriera betrayed u guys...what would u call him now...traitor ?

jitu moni

5 years ago

http://www.asianmirror.lk/english/index....

QNet, the controversial direct selling company owned by Vijay Eswaran, admits that one of their shadow companies is operating in India - where they are facing serious allegations such as duping investors through fraudulent practices.

‘Direct selling company” is a euphemistic term for multi-level marketing which is sometimes dubbed by the media as ‘pyramids’.

In a statement issued in Mumbai, Zaheer Merchant, Director of Corporate Affairs from Qnet, says, “Qnet has no shell companies in India as has been alleged. We operate through a fully Indian company that has the franchise right to the Qnet brand." Even though they have tried to distance themselves from operations in India, it seems like they have put their foot in the mouth due to this statement issued by them.

QNet, the company which is in the middle of the controversy, is owned by Vijay Eswaran, the biggest shareholder of Asia Capital PLC, Sri Lanka’s largest investment bank listed on the Colombo Stock Exchange (CSE).

The Mumbai Police has so far arrested nine team leaders of the QNet for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices. QNet, according to Indian media, has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

The Sri Lankan Central Bank has already described QNet (formerly GoldQuest) as a pyramid scheme. About six years ago they operated a multi level marketing scheme under Gold Quest banner, but due pressure from Sri Lanka Central Bank, they were forced to close shop. In addition to the Sri Lankan Central Bank, Australian Politician Cameron Thompson, the Nepalese Home Ministry and the Iranian Government have also leveled the same allegation against the company.

The Indian development is very intriguing; in this statement Merchant seems to have got his facts into a twist, by the statement “we operate though a fully Indian Company…” – what is Qnet up to? Isn’t he admitting to this entity vicariously having a connection to the Mother company (Qnet) and thereby Vijay Eswaran – is the question!

According to the statement issued by Merchant, QNet was established in 1998. “Today, it has more than 60 lakh distributors and customers around the world with product sales in 100+ countries, 25 worldwide offices and agencies and more than 50 stockists,” the statement says. The next question is whether Sri Lanka is also on the list?

As Forbes magazine describes, Eswaran is the 50th richest man in Malaysia. In Sri Lanka, his total investments in the stock market amount to to Rs. 3.6 billion. Eswaran’s grandfather was a Jaffna Tamil who later migrated to Malaysia. His wife is a Sri Lankan who was born and grew up in Colombo. He owns 87% of the Asia Capital shares. What else are his stakes in Sri Lanka, “shell” or otherwise – is another mystery!

jitu moni

5 years ago

http://www.fbi.gov/scams-safety/fraud

Pyramid Schemes

As in Ponzi schemes, the money collected from newer victims of the fraud is paid to earlier victims to provide a veneer of legitimacy. In pyramid schemes, however, the victims themselves are induced to recruit further victims through the payment of recruitment commissions.

More specifically, pyramid schemes—also referred to as franchise fraud or chain referral schemes—are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product. The real profit is earned, not by the sale of the product, but by the sale of new distributorships. Emphasis on selling franchises rather than the product eventually leads to a point where the supply of potential investors is exhausted and the pyramid collapses. At the heart of each pyramid scheme is typically a representation that new participants can recoup their original investments by inducing two or more prospects to make the same investment. Promoters fail to tell prospective participants that this is mathematically impossible for everyone to do, since some participants drop out, while others recoup their original investments and then drop out.

Tips for Avoiding Pyramid Schemes:

Be wary of “opportunities” to invest your money in franchises or investments that require you to bring in subsequent investors to increase your profit or recoup your initial investment.
Independently verify the legitimacy of any franchise or investment before you invest.

karam

5 years ago

http://timesofindia.indiatimes.com/india....

QNet case: Police ask bank to freeze Ferreira’s account

MUMBAI: The economic offences wing (EOW) probing the Rs 425-crore QNet cheating case on Tuesday wrote to a bank asking it to freeze former billiards champion Michael Ferreira's account. Ferreira (75), who was questioned by the EOW for two hours on Tuesday, also deposited his passport.

A court hearing Ferreira's anticipatory bail plea had directed him to appear before the EOW between January 27 and 31.

The police said Ferreira holds 80% shares of Vihaan Direct Selling. "We want to know how he came in touch with Vihaan. He said he got commission by working for it," said an officer. When asked about his source of income, Ferreira reportedly said he wrote columns in newspapers and appeared as commentator on TV shows.

Police suspect that Ferreira was part of a binary scheme that started a business in India.

A PR firm, on behalf of Ferreira, said he responded to all queries and will continue to cooperate with the probe. "He maintained that the cheating and other charges against him are baseless. He is only an investor in Vihaan and had no executive role to play," the statement said.

jitu moni

5 years ago

http://timesofindia.indiatimes.com/india...

QNet case: Police ask bank to freeze Ferreira’s account

MUMBAI: The economic offences wing (EOW) probing the Rs 425-crore QNet cheating case on Tuesday wrote to a bank asking it to freeze former billiards champion Michael Ferreira's account. Ferreira (75), who was questioned by the EOW for two hours on Tuesday, also deposited his passport.

A court hearing Ferreira's anticipatory bail plea had directed him to appear before the EOW between January 27 and 31.

The police said Ferreira holds 80% shares of Vihaan Direct Selling. "We want to know how he came in touch with Vihaan. He said he got commission by working for it," said an officer. When asked about his source of income, Ferreira reportedly said he wrote columns in newspapers and appeared as commentator on TV shows.

Police suspect that Ferreira was part of a binary scheme that started a business in India.

A PR firm, on behalf of Ferreira, said he responded to all queries and will continue to cooperate with the probe. "He maintained that the cheating and other charges against him are baseless. He is only an investor in Vihaan and had no executive role to play," the statement said.

gurupreet

5 years ago

Whistleblower protection refers to laws and policies meant to protect anyone who exposes alleged wrongdoing. The wrongdoing might take the form of fraud, corruption or mismanagement.
As of December 2013, India does not have a law to protect whistleblowers; however, Whistle Blowers Protection Bill, 2011 was approved by the Cabinet of India as part of a drive to eliminate corruption in the country's bureaucracy[1][2] and passed by the Loksabha on 27 December 2011.[3] The Bill is still pending before the Rajyasabha.

There have been multiple instances of threatening, harassment and even murder of various whistleblowers.[4][5]
An engineer, Satyendra Dubey, was murdered in November 2003; Dubey had blown the whistle in a corruption case in the National Highways Authority of India’s Golden Quadrilateral project.[6]

Two years later, an Indian Oil Corporation officer, Shanmughan Manjunath, was murdered for sealing a petrol pump that was selling adulterated fuel.[7][8]

A Karnataka official SP Mahantesh, said to be a whistle-blower in controversial land allotments by societies was murdered in May 2012. Mahantesh was working as Deputy Director of the audit wing in the state’s Cooperative department and had reported irregularities in different societies involving some officials and political figures.[9]

A senior police officer alleged that Mayawati's government was corrupt and had embezzled large amounts of money. Shortly thereafter, he was sent to a psychiatric hospital.[10]

Activists are seeking a quick passage of the Whistleblowers Protection Bill in Parliament. The demands are that a law should be framed to protect whistleblowers, facilitate the disclosure of information and uncover corruption in government organisations.[5]

The fight for passing of whistle blower protection act, Judicial Accountability Bill and other laws will continue...

https://soundcloud.com/hashiya/aye-bhagat-singh-tu-zinda-hai

https://soundcloud.com/hashiya/isliye-raah-sangharsh-ki-hum-chunen

Jai Jai Matram
Gurupreet

gurupreet

5 years ago

Hello Friends,

Is this the first time..that whistle blowers have been targeted by lodging false and bogus cases against them?

Even the court saw that no wonder i got BAIL within minutes.

The last time a young guy stood against QUESTNET in chennai he was put behind bar for approx 72 days...

Parents of One guy in North India were threatened that if his son did not keep quiet he would be arrested in false case filed by his ex-GF..

This was bound to happen and i was anticipating something like this..but the fight will continue..

Now i have been threatened saying false case of rape/molestation will be filed against me soon..

I am going to expose the corruption in oshiwara police station soon by sitting on a dharna in front of the police station..

Vande Matram
Gurupreet

jitu moni

5 years ago

Go Guru Go...All, ex-IRs, are with you all the way.Just imagine, you have managed to make all the Grand Uplines scared and worried,in India and Dubai,even Chief Pathman is frowning in his video.The company falls foul of the direct selling legislation in India and IDSA have rightly denied membership to Qnet.

SCAM BUSTER

5 years ago

Goodbye Qnet!RIP!

gurupreet

5 years ago

Hello Friends,

There is a news story floating around regarding a BOGUS and FALSE complaint filed against me by some of my family members.

Before i answer those allegations (though this is not the correct forum) but since it has been posted here and is being spread by QNET Cronies..I need to answer them.

Ironically when the whole battle started this was expected..lee me tell you why...

1. When one guy like me had stood up against QUESTNET in Chennai 4-5 years back he was put behind bars for 72 days on various false and bogus charges..but he continued

to fight and as a result QUESTNET WAS CHARGE SHEETED.

2. I have a LONG standing property dispute in my family (as is common in all joint families in India) and at that time police/goondas/mla/MP (who was also the Union Law Minister) at that time went behind me BIG time. It was during this fight that i un-covered the Amnesty Scheme SCAM, Stamp paper SCAM etc by filing RTI applications...When i did not succumb to all this pressure..BOGUS and FORGED documents were prepared by my Sister and Brother in

Law and property worth more then 20 Crore was grabbed and transferred which rightfully belonged to me.

3. When i reported all these offences to Oshiwara Police Station, They refused to take any action and because of that me,my wife and my children had to sit at DHARNA several times outside oshiwara police station.

4. Since last 5 years this fight against injustice continued and i lost my well established business to the corrupt system and that is the time me and my wife became active with India Against Corruption organisation and did what ever we could in the fight to get the Lok Pal Bill passed.

5. After courts intervention Oshiwara Police station had to file a FIR against my these same family members and they were all arrested and the forged documents were send for forensic reports. The FSL reports stated clearly that all these documents were forged and bogus and hence a charge sheet was filed against My Sister (Treasurer of the society where i stay in), Brother in Law (Who claims to be suffering from several lfe threatening sexual disease and terminally ILL),Father (Managing
Commitee Member of the society where i stay in), The Secretary of the society (Who had prepared all these BOGUS documents) and the Chairman of the society (With whom my father and sister are friends and have commercial Transactions).

6. All these people connived and transferred my property which i had earned through hard work since last 20 years and handed it over to my sister and brother in law.

7. Since all this it was a natural thing that these people were looking for a chance to attack me.

8. I was threatened several times by the ex senior inspector of oshiwara Mr. Dileep Rupwate that he will get me implicated in false and bogus cases(Of which i have

evidence).

9. After the registration of my FIR against QNET at oshiwara police station many officers were behind me "To settle" the QNET matter but i refused and these senior officers were having a GRUDGE against me for giving up such a strong fight to QNET every where.

10. Here let me tell you about my self, my age is 40 Years born and brought up here in Mumbai. Till date i have had no criminal cases against me.

11. About the incident, oh yea..my father a old man having one of the most controversial life times happened to slip on the bath room stairs one morning (because of his health issues) and i like any good citizen went ahead to help him get up and he started abusing me. Then he saw that he had a minor cut on his fore head and saw this as a chance to get me caught some where and he called up on 100 and reported a false statement saying that "My SOn has hurt me". On hearing this i went to the police station my self and reported everything to the police and they told me not to worry as they knew everything about my dispute with my father, i sat there for 2 hours and then left for my work.

12. After some time i started staying with one of my friend who has paralysis as i was getting constant threats from oshiwara police station people telling me to keep quite and settle the QNET thing to which i refused and there after they registered a FALSE AND BOGUS FIR against me.In whose pressure and money/political power this
was done can be understood by easily. Commom guys i am fighting QNET the GIANT, would they spare a opportunity to get me stuck?

13. Here it is interesting to note that since that time every day i go to attend court matters/EOW regarding the QNET matter at around 8 AM in the morning and come back at around 12 in the night and been staying just a few meters away from the Oshiwara Police Station. If they really wanted to arrest me they could have had done so easily in last 60-70 days.

14. Many people were i stay in Lokhandwala are members of QNET and also friends with my sister and these people started keeping a track of me, my wife and children daily due to which i had to stop meeting them also. Professional spy/detective agencies have been recruited who keep a track of my whole family.

15. Why was arrested on the 23 of January 2014? Yes that is the story...On 23 rd of January, two crucial matters for de-freezing of bank accounts of shell companies of QNET were listed, One in Bombay High Court and the Other in Killa court with a total value of approx 100 crores. In the Killa Court matter 23rd was fixed as the date for final hearing on my intervention application. The motive was also to stop me from reaching Killa Court and also bangalore, where QNET has filed a case of injunction against me and my wife.

16. Officers of Oshiwara Police station acting on behalf of QNET picked me up from chruchgate area outside Bombay High Court with the only objective being to stop my appearance in the Killa Court and with out any arrest warrant or anything pushed me into a taxi and abducted me to oshiwara police station. Why pick me up from outside Bombay High Court...when every night i am in Lokhandwala a stones throw away from Oshiwara Police Station?

17. I messaged several of my friends and they reached Oshiwara Police Station before me and after seeing that they have been caught on the wrong foot the officers of oshiwara police station took me to andheri court and here i was granted bail immediately.

18. As you know i had restarted my own restaurants 3 years back and had to close them after registering of my case against QNET as police aided and abetted the forced closure of my restaurant and since then me and my family including my wife and two children (one who is a special child) have been suffering heavily financially and what ever life savings i had i used it in my fight against QNET.

19. Because of financial constraints and technical problems the bail surety could not be furnished on time, hence i had to spend some time in lock up till the bail surety was put on record.I am not ashamed of it as Mahatma Gandhi said, "One should go to jail once in a life time", and if i went to jail to stop the QNET SCAM FROM BLEEDING MY NATION i am proud of it.

20. This was expected, i have had given so many slaps to QNET and it was expected they will use thier money power to get me stuck in false and bogus cases, Here i would mention that this might happen in future also and more BOGUS cases may be filed against me, BUT THE FIGHT WILL CONTINUE.

21. It is also interesting to point out the three media companies that took interest into this small and petty case of 324/IPC. One of them glorifies QNET indirectly by
calling QNET as a "Direct marketing agency", the other channel which never carried QNET covergage till date (I am aware of the resons) and the other news paper whose journalists went to malaysia on a paid trip (This news paper also SAT on the michael feriera angle for more then one month and did not give me the original complaint back so that no one else could also print it and also tried to KILL the MF story). But where there is WILL, there is a WAY and it all got exposed

22. It is really surprising that the QNET advocates took such a special interest in a small time case of 324/IPC registered against me and the best part is that EOW and higher officers were all aware of it but did not intervene or try to help me or my family. It is obvious that there is a tremendous political pressure on the mumbai police to stop correct investigation and just do a name sake investigation.The only reason i kept quite about what was going on with me and my family was that i did not want to wash my private linen at a public forum and also i did not want any victims of QNET to feel de-motivated. That is the reason in spite of suffering so much i always talked positively to whom so ever who called me and tried to help them as much as i could.

22. I say that i will continue this FIGHT AGAINST QNET SCAM TILL THE LAST BREATH OF MY LIFE.

23. There is a eminent danger to the well being of my immediate family. I say that there is a HIGH chance that i will be killed very soon.

This is a short statement from me and i am filing a detailed complaint with the CP-Mumbai (I know no action will be taken though because political/money pressure as set in on Mumbai police), never the less...the fight will continue..till i can..hope they kill me soon :)

REPLY

Ria

In Reply to gurupreet 5 years ago

GURUPREET, Just shut up now! enough of your saving the nation!
If you want to go stand in elections!!! according to you cops are cheats...govt is cheat...qnet is cheat...it seems you have taken money from someone to create harassment to a company who is growing!
If you really want to say cops have taken bribe prove is in court stop creating page hits for this site...
One msg for - STOP IT! do not ruin your children's life and get back to work...as this also shows if what you have written in point 18 seems you are a selfish person and instead of taking care of your children you are doing all this non-sense! what do you want? an award from govt.? BEST CITIZEN award? you will get the best mental award! All the best!!!

karam

In Reply to Ria 5 years ago

http://timesofindia.indiatimes.com/india....

QNet case: Police ask bank to freeze Ferreira’s account

MUMBAI: The economic offences wing (EOW) probing the Rs 425-crore QNet cheating case on Tuesday wrote to a bank asking it to freeze former billiards champion Michael Ferreira's account. Ferreira (75), who was questioned by the EOW for two hours on Tuesday, also deposited his passport.

A court hearing Ferreira's anticipatory bail plea had directed him to appear before the EOW between January 27 and 31.

The police said Ferreira holds 80% shares of Vihaan Direct Selling. "We want to know how he came in touch with Vihaan. He said he got commission by working for it," said an officer. When asked about his source of income, Ferreira reportedly said he wrote columns in newspapers and appeared as commentator on TV shows.

Police suspect that Ferreira was part of a binary scheme that started a business in India.

A PR firm, on behalf of Ferreira, said he responded to all queries and will continue to cooperate with the probe. "He maintained that the cheating and other charges against him are baseless. He is only an investor in Vihaan and had no executive role to play," the statement said.

Mumbai One

In Reply to Ria 5 years ago

It hurts, right Ria?
We can understand your frustration for not getting new bakra despite doing f2, f2, f2....
Anyway, get well soon and next time share your IR no as well.

Truth

In Reply to gurupreet 5 years ago

So you are saying here on Moneylife!!...that the Mumbai Police is taking bribes to save QNET!!! Interesting...Mumbai Police should take note of this....Keep Fighting till the Court gives the verdict!!

gurupreet

In Reply to Truth 5 years ago

Officers of oshiwara police station are known to be one of the most corrupt ones in mumbai :)

Truth

In Reply to gurupreet 5 years ago

Wow...interesting!! so I am wondering whether you had bribe to the Oshiwara Police to file your first complaint against QNET?? even if you say that your complaint is genuine....according to you the cops there are the most corrupt ....you must have paid money or somebody helped you with the money to register your complaint... wat say??

Mohit Kalra

5 years ago

In any complaint what is most important are the facts behind the complaint, motivation of the complainant and then of course the credibility /mental state of the complainant.
For months now Gurupreet Singh Anand has claimed to be the saviour of the nation and is promoting himself as the vigilante trying to save the nation from foreign forces of capitalism (sic). And now what has happened yesterday clearly demonstrates the mental state /credibility of this person. He was arrested yesterday by the Mumbai Police for beating up his own father with an iron rod and then leaving him lying on the ground while his old father was bleeding profusely. Someone who beats his own old parents is in my opinion, lower than the scum of the earth and deserves the worst. This man is obviously sick in the head and needs urgent medical help, but that should happen after the police are through with him. Please note that the complaint against him was filed by his own father, who went with his daughter who is Gurupreet’s own sister to file the complaint with the Police. Imagine the level of their helplessness that they took the drastic step of filing a police complaint against their own son and brother in a country where parents have been known to defend their children for practically everything. Obviously it was not triggered by this one incident but was a result of years of depravation and craziness that they have faced at his hands. For Gurupreet there has been a long history of such incidents including many years of drug abuse. And this is the person who on this site, media and otherwise has been taking the high ground on morality and right vs wrong (sic sic).

This incident also begs the question to be asked that under what circumstances and pressure would his wife have been forced by him to re-file the complaint against QNet that she had withdrawn months earlier. We truly feel sorry for his family for what they have been going through for so many years.

And this incident would obviously force his backers who are using him as a front to revaluate their poster boy because they obviously missed their mark in choosing this Singh as the front for their attack on QNet. Guess, its time for them to find a new face who is willing to openly lie and construe imaginary tales on their behalf to malign and try and harm a great company. What say Madam… have you already had that emergency call with your backers for whom you are leading this front? Yes even Madam is a front! And of course now all the “insiders” and opportunists are also running and hiding and ditching the ship as they backed the wrong person.

Some hard questions my dear QNet detractors.... Time to run... Your so called Captain is not only a nut case but also can beat you up with an iron rod tomorrow... Get a life guys.... Seriously.... The party's over.... Today is Saturday, enjoy the weekend and get back to your serious jobs (if you have any) on Monday morning.... Desh hum bachaa lenge......

REPLY

gurupreet

In Reply to Mohit Kalra 5 years ago

Drug abuse and me? Oh yea...MK what took u soooooooooooooooooo long to come out of your mouse hole? Sher hotey hain jho samney akey ladtey hain....u people dont have it in your a$$

jitu moni

5 years ago

http://www.business-standard.com/article...
The Economic Offence Wing of the Mumbai police today grilled actor Boman Irani's son Danesh in connection with the Rs 425-crore QNet case.

"We questioned Danesh and his statement was recorded," an officer from EOW said.

Complainant Gurupreet Singh Anand, who had filed an FIR against the QNet in August last year, had earlier approached Mumbai Police's Economic Offences Wing (EOW) with a two-page complaint giving the details of alleged links of Danesh with the scheme.

In the written complaint, he had alleged that Danesh promoted and propagated the scheme along with his father Boman, though according to police the actor is not the member in the scheme.

Mumbai police has also frozen Danesh's bank account, blocking his Rs 25 lakh.

The EOW has so far arrested nine team leaders of QNet for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

jitu moni

5 years ago

http://indianexpress.com/article/enterta...
Mumbai Police issued summons to Bollywood actor Boman Irani’s son in connection with a case involving multi-level marketing firm QNet. Danesh Irani, associated with the Malaysia-based direct selling firm accused of duping investors, has been told to appear before investigators on Friday for questioning.

“We have summoned Danesh to appear before us on January 24,” Rajvardhan Sinha, Additional Commissioner of Police (EOW), told PTI.

Recently, EOW froze Danesh’s bank account, which had Rs 25 lakh. A scrutiny of Danesh’s bank account has revealed that about Rs 40 lakh had been received by him from QNet in 2013, police said.

Police wants to ascertain his role in QNet’s marketing schemes and commissions paid to him, among other things.

One Gurupreet Singh Anand, who filed an FIR against QNet in August last year, recently approached EOW with a two-page complaint giving details about Danesh’s suspected role in the case. Gurupreet has also alleged that Boman and former world billiards champion Michael Ferreira had participated in the company’s promotional events.

EOW has already issued a look out notice against Ferreira (75), QNET founder Vijay Eswaran and his three business associates after they failed to turn up for questioning despite being summoned.

EOW has arrested nine team leaders of QNet so far for allegedly duping investors by selling products like magnetic disks, herbal products and holiday schemes through fraudulent practises. QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978. QNet has denied any wrongdoing.

SCAM BUSTER

5 years ago

http://ibnlive.in.com/news/mumbai-court-...

Mumbai Court orders Ferreira to return to India, join QNet scam probe

Mumbai: A Mumbai Court on Wednesday ordered former World Billiards Champion Michael Ferreira to return to India by January 27 and join the investigation in the Rs 425 crore QNet scam.
Ferreira has been granted interim relief till January 31 and asked to appear before the Economic Offences Wing (EOW) which is probing the case.
ALSO SEE Mumbai Police issues lookout notice against Michael Ferreira in Qnet sccam
He has also been asked to surrender his passport and not leave the country without the court's permission. Ferreira had applied for anticipatory bail.
Mumbai Court orders Ferreira to return to India, join QNet scam probe
QNet has been accused of using the banned binary-pyramid business model for their multi-level marketing schemes to attract investors.

The Mumbai Police Economic Offences (EoW) Wing had issued a look out notice earlier this month after Ferreira failed to turn up for questioning despite repeated summons.
QNet has been accused of using the banned binary-pyramid business model for their multi-level marketing schemes to attract investors. The company operated in India through its official franchisee Vihaan Direct Selling Private Limited.
Over 12 lakh investors in India are believed to have been duped by the multiple companies that have used Michael Ferreira's name.

SCAM BUSTER

5 years ago

http://in.news.yahoo.com/how-qnet-pulled...

"Biophoton light," you are told, will energise liquids faster and more efficiently "via the wave-form produced" by a set of rings imprinted on the surface of a silicone rubber disc. This is a phenomenal 'Bio Disc' whose "flat-base" design allows a glass placed on it to be able to stand "more steadily than before". Just the very act of keeping your glass - full of water - on top of this remarkable disc makes it more harmonized, according to the marketing material at a company called QNet. "The Amezcua Bio Disc was introduced in 2006 as a revolutionary new product which redefines and harmonises the energy of water to maximise its positive effects on the human body. Over the years, numerous independent scientific studies have verified its effects and millions of satisfied customers have testified to the benefits of using the Bio Disc." You can supposedly use this "energized water" in any way to get its "health and lifestyle" benefits: drink it, spray it on yourself, or just place it under your bed at night.

QNet is now shrouded in controversy because, as some of you might have realized, the above claims are too fancy to be true.

But the deal is hardly about the product. Just like fairness creams are allowed to say that the level of skin pigmentation directly influences a woman's acceptance by her mother-in-law, or that certain forms of toothpaste can claim that salt will make your teeth whiter, saying what is not quite true is rampant in ordinary marketing. However, if you combine this with a particularly distasteful method of marketing - multi-level marketing or MLM - you get the combined impact of initial euphoria and eventual disappointment and anger.

MLM is about using your customers as your agents, instead of a traditional distribution network like agencies and wholesalers. The idea is that if your customers like a product, they can refer other customers, and when those customers buy, a referral commission can be paid, thus eliminating the middlemen. In addition, customers are sold the idea that they have to only do this in their spare time, and thus earn a steady stream of "recurring" income when their referrals buy. Those you refer can further refer others, and you form a long "downline" which guarantees you future riches.

This is good in theory. In practice, the kind of sustained effort that is required to sell goods to a large population makes such MLM companies take dubious shortcuts. Each person is required to maintain a certain number of sales every month to be in a "level", without which your benefits might lapse or fall to a trickle. Given that products are expensive, it is more lucrative to enlist new downlines than to get your existing network to buy more; so you spend your time hardselling the brilliant future income concept to unsuspecting friends and relatives. The hardsell eats up good relationships; you find that your friends no longer want to speak with you, and the few that were sold the idea are bitter that the income is next to nothing.

The first few people in such a scheme always make good money because they have the biggest network under them. QNet was no different, and had famous people like Michael Ferreira, India's former billiards champion and Padma Bhushan awardee, endorse and participate in the MLM scheme. The idea, says one article, was for each individual joining the network to buy Rs 500,000 worth of goods that were overpriced - so-called expensive watches, a pendant that aligned energies, a coaster that gave water magical properties and so on. When you buy, your "uplines" - the person that referred you, and his upline and so on - get upto 50 percent of your payment. And then, when you find a sucker who will pony up his five lakh, you get a good chunk of that as his upline, and so on.

The problem with QNet was that it ensnared people who were desperate to make such recurring income, but had to stretch themselves tremendously to make the initial payment. They did it on dreams of great riches that were promised surreptitiously by agents trained to mean exactly that, but not actually say it (because that would be illegal). After the initial euphoria, it dawned on many people that selling voodoo magic to a lot of people with the promise that a lot of other people would buy it is an unsustainable one - eventually, you have suckered all those who can be suckered, and the house of cards comes crashing down.

QNet managed to get to Rs 425 crore in size before it imploded. The company had in its earlier avatars of GoldQuest and QuestNet sold 'limited edition' gold coins at inflated prices, again as MLM schemes and on the premise that the coins would find buyers at even higher prices. These companies eventually closed down in 2009 and slipped out of the limelight, after many cases were filed by 'investors' who felt duped. QNet is just another avatar of a phenomenon that demonstrates exactly why some things are always too good to be true. The Singapore-registered company has already been banned by countries such as Saudi Arabia. Last August, the CBI's Economic Offenses Wing (EOW) finally registered a case against QNet for "duping thousands of investors by selling them plastic and glass products terming them miraculous objects for treating severe diseases like cancer." The Indian authorities are also supposed to be after QNet founder Vijay Eswaran, ranked by Forbes as the 25th richest Malaysian, but Eswaran has denied any involvement. This month, the EOW has issued lookout notices against 10 people, including Vijay Eswaran and Michael Ferreira. The latter has subsequently claimed to be stuck in Malaysia for "a few tests and medical treatment to address some of my long standing ailments and health issues."

You can't con an honest man. Most people who buy into the "dream" sold to them by QNet are those who want to earn a lot of money without doing any real work. They blindly believe figures of authority like Ferreira, or unreliable certificates by dubious "testing" centres stating the miraculous powers of what is just plastic. In many ways, a sucker is born every day, and companies like QNet just take them for what they're worth. It will be very difficult to establish guilt, and once QNet goes away, another silly scheme will come to take its place.

The best way to avoid being duped by a MLM scheme is to ask yourself:

- Are you expected to sell a product to other people? Do you need to pay for the privilege of signing up? If so, it's most likely a scam.

- Is there a refund policy? Can you return products unused to get back your money? If not, it's most likely a scam.

- Does it use the words "in your spare time"? My vast experience of hearing most of these sucker schemes tells me this is the biggest warning bell of them all.

- Can you buy alternative products that do the same thing at a much cheaper price? Then you're just being a sucker if you buy into a much more expensive product just to get a small commission back.

- Are you made to visit a "meeting" where a well-heeled gentleman extols the virtues of this scheme? And you can't ask too many questions? That's a sign of a scam.

QNet sells you many riches, if only you invest Rs. 500,000 and then find other suckers who do the same. The above criteria should sound warning bells, and like many other MLMs before this one, it makes you think more of the money you can earn with it rather than the benefits of the products themselves.

The lesson? It's always easy to mislead someone blinded by that kind of greed.

jitu moni

5 years ago

Read the blog of another normal soul turned Qnet Guru preaching this illogical, illegal and unethical business
http://thesolutionbaba.wordpress.com/

gurupreet

5 years ago

Cheap Pathman SameShit-Raja had in videos messages spoken about more "Media Focus" since nothing came forward from Qnet...here is a little bit of more contribution from our side...

Enjoy Q ;)

Bank accounts of Danesh Irani son of Boman Irani FROZEN for indulging and promoting the illegal money circulation scheme of QNET.

It is a message to the remaining active IR,s of QNET, tomorrow your homes, cars and assets will be frozen...give up the SCAM NOW !!

http://timesofindia.indiatimes.com/india...

http://www.dnaindia.com/mumbai/report-qn...

http://freepressjournal.in/daneshs-accou...

http://indianexpress.com/article/india/i...

http://indianexpress.com/article/cities/...

http://www.deccanherald.com/content/3803...

http://www.financialexpress.com/news/rs-...

http://news.outlookindia.com/items.aspx?...

http://timesofindia.indiatimes.com/india...

http://articles.timesofindia.indiatimes....

gurupreet

5 years ago

QNet scam: Cops freeze Danesh Irani's bank account

MUMBAI: Mumbai Police, probing the alleged role of Danesh Irani, son of actor Boman Irani, in the Rs 425-crore scam allegedly spearheaded by a multilevel marketing firm QNet, has frozen his bank account, blocking his Rs 25 lakh, a senior police officer on Monday.

The bank account of Danesh has been frozen, the officer told PTI adding that, "Two fixed deposits were linked to his bank account. Cash and FDs collectively valued at Rs 25 lakh were found in the account."

The scrutiny of Danesh's bank account revealed that about Rs 40 lakh had been received from QNet (over a period of time) in 2013, the officer added.

"We are verifying to ascertain as to what sort of job he had performed, for which the QNet paid him about Rs 40 lakh," the officer said adding that Danesh would be summoned soon.

Complainant Gurupreet Singh Anand, who had filed an FIR against the QNet in August last year, has recently approached the probing agency, Mumbai Police's economic offences wing (EOW), with a two-page complaint giving the details of alleged links of Danesh.

Gurupreet has also alleged that Boman Irani and former world billiards champion Michael Ferreira had participated in the promotional events.

Gurupteet had claimed that he shared Danesh Irani's QNet membership details with the investigators and his account had shown that he carried out Rs 18 crore worth transactions and because of which he received substantial amount of commission.

The EOW has already issued a look out notice against Ferreira (75), QNET founder Vijay Eswaran and his three business associates after they did not turn up for questioning despite the summons served to them.

The EOW has arrested nine team leaders of QNet so far for allegedly duping investors by selling products like magnetic disks, herbal products and holiday schemes through fraudulent practises.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The accused were charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

The Malaysia-based MLM firm has denied any wrongdoing. The lookout notice is a circular issued against a person when he/she is wanted by police either for questioning or for the purpose of arrest in any case.

It is circulated at all immigration checks at international borders (like airports/sea ports) and as soon as the person is spotted, the authorities concerned are notified.

http://timesofindia.indiatimes.com/india...

karam

5 years ago

Boman's son has reportedly fled to US and Farara is only buying time .... let us get some more names in the open ...

gurupreet

5 years ago

Actor Boman Irani's son to be summoned in QNet case

MUMBAI: The city economic offences wing (EOW) officials said that actor Boman Irani's son, Danesh, received commission from QNet, a private firm, and that they would summon him for interrogation soon.

The EOW is probing a cheating case against QNet, a multi-level marketing firm. Last week, Gurupreet Singh Anand, the complainant in the case, filed an application with Rajvardhan Sinha, additional commissioner of police (EOW), urging the police to probe the role of Danesh and his father.

"Danesh has been active in QNet since 2006-07," said an investigator. The police have frozen the firm's independent representatives' (IRs) bank accou- nts that contain more than Rs 120 crore. Sinha said his officers were collecting more information about the other accused.

The police last week issued look-out circular against several persons in the case, including Michael Ferreira, winner of the World Amateur Billiards Championship and a Padma Bhushan recipient, Vijay Eshwaran, Dev Wadhvani, Sachin Gupta and Srinivasrao Vanka.

QNet's public relations firm did not respond to TOI's queries.

Ferreira (75), a shareholder in the Indian franchisee for QNet-Vihaan Direct Selling (VDS), through an email communication to his PR company, said, "I have been in Malaysia for a few tests and medical treatment to address some of my long-standing ailments and health issues. I have spent most of my life building my reputation and serving India on various platforms, including sports and public service, so I find it ridiculous that anyone would say that I am trying to avoid or run away from my responsibilities and from cooperating with the EOW." He did not mention any date for his return. The email said Dev and Sachin never received summons; they are IRs of QNet in Hong Kong and Dubai.

http://timesofindia.indiatimes.com/city/...

Comment: EOW should also follow up and investigate Boman Irani including other influential people for promoting this illegal money circulation scheme. I know there is immense pressure on the EOW but still this is the time to stand up and support our nation then to fall into these pressure tactics of traitors of India.

jitu moni

5 years ago

Complaints are pouring in, a fact accepted even by ACP Mumbai Police. Read his interview and a dashing filmi blowup of Guru :-) http://www.mid-day.com/news/2014/jan/030...

pavan

5 years ago

Dear all,

I dont know why people are opposing Qnet a lot ..Understand the company operations ,what is the difference between Direct selling and other advertising companies.you dont know where the money is going in other companies which depend on advertising atleast here it is transparent.The main reason is that india does not have clear legislation to differentiate between fraud companies and genuine companies.This company gives not only a business opportunity not only for middle class people but it moulds the character of a individual with lot of moral values ,helping nature everything and lot more to say.All these things never get into the mind of negative shaded people.And one more thing why money life is hiding the positive news which came through PR News wire media distribution .This is stragetic attack playing on Qnet .For everything Bhagwan is there he always be at the right side of the world.

REPLY

sunil

In Reply to pavan 5 years ago

Duping relatives and close friends of their hard earned money is wrong. qnet is doing the same. it does not tell the modus operandi of their business to the prospect (bakara) till they pay. once they r in net then they r helpless.