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 fireplace at a QNet sweatshop in Swapnalok Complicated on March seventeenth, which claimed the lives of 5 promoters.
Every week after the fireplace, a pal of one of many deceased filed a grievance towards QNet with police on March twenty second.
On Wednesday, one of many victims, B. Sravani’s pal 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 Ok. Shiva and N. Vijaya advised him that he would get between Rs 30,000 and Rs 60,000 per thirty 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 reviews 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.
Below interrogation, Shiva and Vijaya gave up Rajesh Khanna, who they declare is “the principle conspirator and proprietor of Q-Internet”.
Throughout the preliminary investigation, the police got here to know that Rajesh Khanna can also 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 below the identify Vihaan Direct Promoting Pvt Ltd. The pyramid scheme is promoted in Hydrabad as “V-Empire”.
I’m assuming Khanna’s possession is restricted to QNet India’s operations. QNet as an entire is owned by Malaysian nationwide Vijay Eswaran (proper).
Police have managed to get Rajesh Khanna’s cellular quantity and are monitoring him.
Subsequently, the police group can also be checking his financial institution transactions and different comparable 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 latest ED searches in numerous areas linked to QNet in Hyderabad and Bengaluru from the place officers seized a number of paperwork and digital units.
The 137 crore frozen by ED is unfold over 50 financial institution accounts throughout the nation and belongs to a number of entities linked with the case.
Again in January Indian authorities introduced $11 million tied to QNet had been frozen. The MLM firm has a number of energetic felony instances filed towards it throughout India.
Whereas general 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 didn’t take motion towards QNet because it was based in 1998.