QNet: In a money-laundering case, the ED freezes 36 bank accounts linked to Vihaan Direct Selling.

 


The Enforcement Directorate (ED), India's agency responsible for enforcing economic laws and combating economic crime, has frozen 36 bank accounts associated with Vihaan Direct Selling India Pvt Ltd, the master franchisee of multi-level marketing (MLM) company Qnet Ltd in India.

According to a news release, the ED searched numerous locations in Mumbai, Bengaluru, and Chennai on Tuesday in connection with the Vihaan Direct Selling (QI Business) money laundering case and froze 36 bank accounts worth more than Rs90 crore.

In 2014, the ED filed a money laundering charge in connection with the Rs425 crore QNet scandal. The ED list included QNet Ltd of Hong Kong, its official franchisee Vihaan Direct Selling, Vijay Eswaran, the creator of QI group, and three additional QNet independent representatives (IRs) from Mumbai.

In the same year, the Mumbai police's economic offences wing (EOW) notified the Sessions Court that seven suspects in the QNet fraud tried to deceive the court by providing phoney documents. According to the EOW, QNet team leaders such as former world billiards champion Michael Ferriera, Srinavas Rao Vanka, Magarlal Viravali Balaji, Malcolm Nozer Desai, Navjyot Mahesh Das, Chinar Surendra Shinde, and Mereilla Kamal Dutta lied to the Court by submitting a forged document while seeking bail. The police sub-inspector (PSI) under whose name the paper was filed denied preparing it in an affidavit, the EOW told the court at the time.

Cyderabad police sent notice to Shahrukh Khan and other celebrities... Read More...

History of QNET. Click here...

Watch how ED started investigation about QNET Frauds.

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