ED searches on Q Net ‘scamsters’ in 7 locations in Hyderabad and Bangalore | Hyderabad News – Times of India

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HYDERABAD: The Enforcement Directorate on Friday conducted searches in seven locations in Hyderabad and Bengaluru in the alleged Q Net scam on the charges of money laundering.
Sources said ED sleuths registered an ECIR (Enforcement Case Information Report) in 2022 under the Prevention of Money Laundering Act based on 38 FIRs registered by Cyberabad police against Q Net and Vihaan Direct Selling Private Limited promoters.
During searches at the Madhapur location, the ED found only tele callers. ED seized documents, hard disks and other devices from these locations.
The ED will also be taking up other FIRs registered after Secunderabad fire mishap against Q Net.
Cyberabad police had earlier busted the Multi Level Marketing scam where more than a thousand crore rupees was allegedly swindled.
Q net scam is spread over Telangana, Andhra Pradesh, Karnataka and Delhi.
Vihaan formerly known as Gold Quest, Quest Net, is a Hong Kong-based multi-level marketing company owned by the QI Group.
“The company is involved many ponzi and binary Schemes, product based, vacation packages, and business tactics which are illegal. The Q-net and Vihaan promoters give motivational lectures to the unemployed youth and also to the homemakers stating that there is a business project which will yield huge profits to them. The scheme collapses at a point of time. They even do not bother to verify the quality of the products as they are interested only in the huge monetary returns the company has promised for them,” alleged Cyberabad police.

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