Indian authorities have frozen $16 million tied to QNet. The freeze order is a part of a brand new QNet felony case, initiated in Hyderabad on March twenty third.
The brand new felony case follows a hearth at a QNet sweatshop in Swapnalok Advanced on March seventeenth, which claimed the lives of 5 promoters.
Every week after the hearth, a buddy of one of many deceased filed a grievance in opposition to QNet with police on March twenty second.
On Wednesday, one of many victims, B. Sravani’s buddy Madis Naveen, submitted a written grievance to Mahankali police station stating that he had deposited Rs 1.60 lakh (~$1940 USD) in June 2022 with Q-Internet.
Middle heads Okay. Shiva and N. Vijaya informed him that he would get between Rs 30,000 and Rs 60,000 per 30 days as revenue and his deposited quantity would stay intact, the grievance mentioned.
Naveen mentioned that Q-Internet neither refunded the deposit nor gave any incentives as promised.
The Instances of India moreover experiences that police in Hyderabad have now obtained complaints from 25 QNet promoters.
Manhankali Police charged Shiva and Vijaya, who had been arrested and brought into custody.
Underneath interrogation, Shiva and Vijaya gave up Rajesh Khanna, who they declare is “the principle conspirator and proprietor of Q-Internet”.
Through the preliminary investigation, the police got here to know that Rajesh Khanna can be the precise proprietor of MLM Q-Internet that was banned by the state CID over eight years in the past after receiving a number of complaints, sources mentioned.
QNet operates in India underneath the identify Vihaan Direct Promoting Pvt Ltd. The pyramid scheme is promoted in Hydrabad as “V-Empire”.
I’m assuming Khanna’s possession is proscribed to QNet India’s operations. QNet as a complete is owned by Malaysian nationwide Vijay Eswaran (proper).
Police have managed to get Rajesh Khanna’s cell quantity and are monitoring him.
Subsequently, the police crew can be checking his financial institution transactions and different related MLMs operated by him in different states.
On March thirtieth The Instances of India reported 137 crore (~$16 million USD) had been seized from Vihaan Direct Promoting.
The freeze order follows current ED searches in numerous areas linked to QNet in Hyderabad and Bengaluru from the place officers seized a number of paperwork and digital gadgets.
The 137 crore frozen by ED is unfold over 50 financial institution accounts throughout the nation and belongs to a number of entities related with the case.
Again in January Indian authorities introduced $11 million tied to QNet had been frozen. The MLM firm has a number of lively felony instances filed in opposition to it throughout India.
Whereas total site visitors to QNet’s web site is down, as of February 2023 SimilarWeb nonetheless tracks nearly all of it originating from India (33%, up 14% month on month).
For his or her half, Malaysian authorities have did not take motion in opposition to QNet because it was based in 1998.
