Watch QNet Scam: Amit Sethia Arrested by Hyderabad police here. This news was telecast-ed on Friday 02nd of June 2017 11:53:01 AM in Studio N. Studio N is a 24 hour Telugu news channel from Narne group which is aired in Andhra pradesh, QNet, the tainted company having multiple ongoing cases of cheating against it, was in news again as Hyderabad Police’s Crime Branch Officials, raided and arrested over 12 people from a Qnet Training session, also known as Qnet V-Cell. The arrested persons are allegedly close to the Management of Qnet.
Few of the accused have been identified as Amit Sethia, Prakash Pugalia, Kanti Baid, Phani Kumar, Nikunj Rathi, Bharat Nikhil and Kemnani. Hyderabad based Akbar Khan Warif, one of the victims, while speaking to ABI confirmed the news that police had arrested around 12 employees of Qnet. 16 people had filed and register and FIR (No-86/2015) against Qnet Officials with Hyderabad Central Crime Station. They have been allegedly cheated to the tune of Rs. 40 Lakhs between them.
About Qnet ?
Qnet is a Hong-Kong based Multi-Level Marketing (MLM) Company and has attracted a lot of controversies. QNet India has been repeatedly accused of cheating investors across the globe. QNet Ltd of QuestNet or Gold Quest or Qi Ltd are direct selling companies that are owned by Qi Group. The QNet is being run in India by a company called Vihaan Direct Selling (India) Pvt Ltd. This company is owned by Padma Bhushan awardee Me. Michael Ferreira who also happens to be an accused in an FIR filed in Mumbai against the company and investigated by EOW, Mumbai. QNet Scam has taken the country by storm with many individuals from all over the country complaining of being cheated by the Management and the Representatives of the company.
QNet was founded by Dato Vijay Eswaran in 1998 in Hong Kong. Eswaran is Malaysian by birth and an Indian by ethnicity. In India, QNet’s MLM operation was controlled by QuestNet Enterprises (India) Pvt Ltd. Later, Eswaran floated-GoldQuest and QuestNet Enterprises, and had allegedly duped thousands of people.
The company was hit by controversy first when the Iranian government banned GoldQuest, in what was one of the largest economic corruption cases in the country’s history. The government found that the GoldQuest pyramid schemes led to the removal of around 500 million USD from the country.
Not just Iran, QNet was banned by the government of United Arab Emirates (UAE), Afghanistan, Syria, Sudan, Rwanda, Turkey, Nepal, Sri Lanka and Indonesia. Banned in India twice, QNet is believed to have cheated more than 50 lakh investors in Malaysia, Egypt and Philippines.