QNET: Massive Police Crackdown in Cyberabad, Scam Worth Rs 5000 Cr

 In a significant breakthrough in what is being described as one of the largest ponzi schemes - the QNet fraud - Cyberabad Commissioner of Police stated that the scope of the scandal might be as much as Rs 5000 crores. In a news conference on Tuesday, Cyberabad Police stated that they are winding up the firms related to QNet and that, while the investigation continues, the Ministry of Corporate Affairs, Government of India, has taken note.

VC Sajjanar, the Commisioner of Police of Cyberabad, informed Republic TV that the firm has been duping in 'three avatars'. "It dupes people by making inspiring speeches and sells few things to conceal its unlawful activities." He explained the case's findings further: "Many celebrities were served with notices during the investigation, including Anil Kapoor, Shahrukh Khan, and Boman Irani. The firm is being wound up by the Indian government." The Police Commissioner stated that the scam's masterminds, Vijay Eshwaran and Joseph Bismark, are now outside of India and that the police are tracking their travels.

The QNet fraud is the work of a firm called Vihaan Direct Selling Pvt. Ltd. The crime was investigated by Cyberabad Police officers in Telangana, Andhra Pradesh, Bengaluru, and Delhi. Vihaan Direct Selling Pvt. Ltd., formerly Gold Quest and Quest Net, is a Hong Kong-based Direct Selling/Multi-level marketing (MLM) enterprise owned by the QI Group. Gold Quest was founded in 2001 and registered with the ROC Chennai.

The methodology of selling was so-called 'direct selling through personal approach and based on referral system'. However, it was operating a money-laundering business under the pretext of selling products. The company received complaints from 172 people in Chennai and from people all throughout the country. During the litigation and criminal charges, the proponents of this scheme transferred totally to a newly founded private firm called Quest Net.

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