Monday, August 19, 2013

Multi-level marketing scam: 1 held


Mumbai: The economic offences wing (EOW), on Saturday, made the first arrest in the case against the multi-level marketing firm (MLM), QNet, accused of duping investors. A Bandrabased advertiser, Manjunath Hegde (52), was arrested for cheating and has been remanded in police custody till August 22.
    QNet is being probed for allegedly duping thousands of investors by selling them plastic and glass products that were termed as miraculous for treating diseases like cancer, said the police. The firm has reportedly attracted investments between Rs 30,000 and Rs 7 lakh.
    “Hegde, who is an advertiser, was arrested from his Bandra home. We have seized a hard disk and commission receipts and suspect he may be linked to Vijay Esvaran, the prime accused,” the police said . 

    Astatement from QNet read: “We do not commit any magical cures and the scientific properties of the Bio-Disc on our website are duly certified by relevant agencies. We do not have control on how some distributors represent it...We also don’t force anyone to join our net work and commissions are not linked to people joining the network, but rather on the sale of products.” Two teams have been sent to Bangalore and Chennai for investigations.

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