MLM / CHAIN MONEY


Moneylife Digital Team 12 February 2014
The HC refused to defreeze bank accounts of Transview Enterprises owned by Suresh Thimiri, who is often touted as QNet India's CEO but had denied any relations with the MLM operator   The Bombay High Court on Wednesday rejected interim application filed by Suresh Thimiri, who is often...

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Moneylife Digital Team 06 February 2014
After facing probe by the EOW of Mumbai police, QNet, its founder and associates will now face the ED sleuths in the Rs425 crore MLM scam Enforcement Directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has registered a case in the...

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Moneylife Digital Team 27 January 2014
For weeks, Ferreira had avoided appearing before Mumbai police in the Rs425 crore QNet scam, until the Session Court asked him to present himself before the EOW. Ferreira is also booked by Mumbai police for allegedly forging documents to sell a plot of land at Gorai in Malad Former world...

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Moneylife Digital Team 22 January 2014
The Court in Mumbai asked former world Billiards champion Michael Ferreira to return to India, surrender his passport and appear before the EOW, which is probing the Rs425 crore QNet scam A Session Court in Mumbai on Wednesday has directed former world Billiards champion Michael Ferreira...

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Moneylife Digital Team 07 January 2014
After former world billiards champion Michael Ferreira, Boman Irani is the second celebrity against whom a complaint has been filed in the Rs425 crore QNet scam The Economic Offences Wing (EOW) of the Mumbai Police has received a complaint against Bollywood actor Boman Irani and his son...

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Moneylife Digital Team 02 January 2014
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...

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Moneylife Digital Team 12 December 2013
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...

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Moneylife Digital Team 29 November 2013
While EOW of Mumbai police has registered cases against QNet, Speak Asia and MMM India, Maharashtra government has appealed investors and members of public to be cautious about such MLM, Ponzi and money circulation scheme operators The Home Ministry (or home department) in Maharashtra...

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Moneylife Digital Team 23 November 2013
According to EOW of Mumbai police, these team leaders of QNet received commission ranging from Rs40 lakh to Rs2.5 crore in the binary pyramid scheme which is banned in India QNet, the Hong Kong-based controversial multi-level marketing (MLM) operator that is accused of collecting money...

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Moneylife Digital Team 31 October 2013
Mr Thimiri, the so-called CEO of the controversial MLM, owns registered trademark of QNet in India. He also admitted before the High Court that his company Transview imports and manufactures products for selling to Vihaan Direct, the official franchisee of QNet in India The case of QNet,...

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Vishrut Patel 18 October 2013
Why would anyone offer Rs15,500 ($256) a day to do basic typing work? Well, it appears to be a straight scam, without even pretending to run a business or create a pyramid.  It simply asks people to register FREE, seeks credit card details, ostensibly as age-proof and begins by siphoning off...

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QNet India’s CEO Suresh Thimiri, in his anticipatory bail application has denied any relations with the MLM company and its representatives! The case of QNet, the Hong Kong-based controversial multi-level marketing (MLM) operator is taking various twists every day; but this one will...

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Moneylife Digital Team 29 August 2013
According to an additional commissioner of police, the EOW has frozen six bank accounts of QNet that have Rs46 crore as balance, and their teams would soon visit Bengaluru and Chennai to arrest some suspects Economic offences wing (EOW) of Mumbai police, which is probing Hong Kong-based...

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Moneylife Digital Team 27 August 2013
Operators of illegal money-pooling or MLM schemes will soon face penalties of up to three times the profit made by them as against the current provision of a fine of Rs1 crore Market regulator Securities and Exchange Board of India (SEBI) has decided to increase the monetary penalty for...

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Moneylife Digital Team 22 August 2013
Tightening the noose around QNet, the economic offences wing of Mumbai police froze two bank accounts that have Rs45 crore in balance. Meanwhile, the police custody of Manjunath Hegde, arrested in the same case has been extended Economic offences wing (EOW) of Mumbai police, which is...

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Moneylife Digital Team 17 August 2013
EoW from Mumbai registered an FIR against QNet, the MLM company, for allegedly duping thousands by selling them plastic and glass products as miraculous objects QNet, the controversial Hong Kong-based multi-level marketing (MLM) operator with multiple names (GoldQuest, QuestNet, QNet, QI...

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Moneylife Digital Team 03 July 2013
Kerala Police have arrested two persons in connection with a forex racket which has duped over 60 investors of several crores of rupees, while, at the same time, employees in Chennai have escaped While the rupee has been grabbing headlines of late, what is little known or reported is...

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Moneylife Digital Team 19 June 2013
Several PILs were filed seeking CBI probe into the multi-crore Saradha chit fund scam    The Calcutta High Court on Wednesday refused to grant the prayer for an investigation by Central Bureau of Investigation (CBI) into the multi-crore Saradha chit fund scam.   Passing an...

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Sushmita V Gopalan 17 June 2013
EAS Sarma, the former secretary to GoI suggested that the MCA evolve a system to trace dubious investment or shell companies involved in money laundering EAS Sarma, former Secretary to the Government of India, has suggested that the ministry of corporate affairs (MCA) evolve a system in...

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Moneylife Digital Team 28 May 2013
Kerala, the first state to tighten guidelines on multi-level marketing companies, has cracked the whip on Amway, which is among the first multinational direct marketing companies to enter India in the 1990s. What does the Kerala action mean for other chain-schemes such as QNET and others,...

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