QNet: Police have issued a watch notice for Michael Ferreira.

 

The Mumbai police's Economic Offences Wing (EOW) has issued a lookout notice against former world billiards champion Michael Ferreira for his alleged involvement in a QNET India Scam.

Ferreira, a Padma Bhushan recipient, has already been called by the EOW in connection with the allegedly Rs 425-crore QNet scam.

We issued the watch notice because he did not show up for interrogation three weeks ago when we called him, according to a police officer.

In the second week of December, the EOW summoned Ferreira, 75, and asked him to appear before them to answer questions about his role with the scam-hit company.

EOW has detained nine people in this case so far, who have been charged with cheating, forgery, and violations of the Prize Chits and Money Circulation Schemes (Banning) Act of 1978.

QNet allegedly enticed investors with plans involving investments ranging from Rs 30,000 to Rs 7 lakh, claiming to be a marketing agency offering watches, bio and herbal goods, vacation packages, and other items.

QNet has also been accused of exploiting the illegal binary pyramid business model to recruit investors into its multi-level marketing (MLM) operations.


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