The Enforcement Directorate has filed a lawsuit against the MLM. - QNET Scam

 QNet, its creator and accomplices will now face ED sleuths in the Rs425 crore MLM scam after being investigated by the EOW of Mumbai police. The Enforcement Directorate (ED), India's body in charge of enforcing economic laws and combating economic crime, has filed a money laundering complaint in the Rs425 crore QNet scam.

According to sources, the ED has named Hong Kong-based multi-level marketing (MLM) company QNet Ltd, its official franchisee Vihaan Direct Selling Pvt Ltd, Vijay Eswaran, founder of the QI group, and three additional QNet independent representatives (IRs) from Mumbai.

In a media statement, QNET described the ED's money-laundering investigation against it as "preposterous and entirely false." QNET adheres to strict legal business, transparency, and corporate governance norms as a matter of policy.

Every data relevant to the operations of its Indian franchisee Vihaan Direct Selling, as well as its financial transactions, has been supplied to the EOW investigators. "QNet reiterates that it is entirely compliance with the rules and regulations of business activities under Indian legislation," the MLM claimed in a statement sent by its PR firm, which did not name any company officer or spokesman.

The Mumbai Police Economic Offences Wing (EOW), which is also investigating the MLM fraud, has detained nine QNet team leaders for allegedly duping investors by claiming to sell things such as magnetic discs, herbal medicines, and holiday packages through fraudulent means. Cheating and forgery have been charged against the defendants under relevant parts of the Prize, Chits, and Money Circulation Schemes (Banning) Act 1978.

For weeks, Ferreira evaded going before the EOW until a Mumbai court considering his anticipatory bail motion ordered him to appear before the police by January 27th. The interim protection from arrest given to Ferreira in the QNet scam was extended by the Session Court on January 31st until February 17th. He has, however, been instructed to attend EOW offices as needed, in addition to seeking prior authorization from the Court before travelling abroad.

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