Mumbai: The city economic offences wing (EOW), probing the multi-level marketing firm QNet case, on Wednesday issued notice to Michael Ferreira, winner of the World Amateur Billiards Championship and a Padma Bhushan recipient, in connection with the Rs 425 crore multi-level marketing case. The police asked him to appear before the investigating officer.
Police suspect Ferreira to be a stakeholder in QNet, which has allegedly duped over 90,000 people in India. The EOW has registered a case against the directors and officials of M/s Vihaan Direct Selling (India) Pvt Ltd, QNet, Transview Enterprises and Vanmala Hotels and Tourism Services. The police notice says, “It appears that you (Ferreira) are acquainted with facts and circumstances of the case.”
Police said probe has revealed that Ferreira was a stakeholder of M/s Vihaan. The EOW has so far arrested nine persons, including two women, in the case. The bank accounts of QNet, its independent representatives and associates have been frozen with Rs 110 crore inside. QNet allegedly lured investors with schemes involving investment between Rs 30,000 and Rs 7 lakh. “They posed as a marketing firm which would sell bio-discs, watches, herbal products, holiday packages, etc. They even claimed that by using the bio-disc, one can cure cancer and brain diseases,” cops said. Some money has been transferred to Malayasia, Singapore and Hong Kong, too, cops added.
The Times of India, December 12, 2013