QNET continues to run Ponzi scheme in TS despite police crackdown
QNET induces people to make money by selling products and enrolling members into its pyramid schemes.
By Newsmeter Network Published on 4 Feb 2021 2:19 PM GMT
Hyderabad: Unfazed by the cases filed against QNET and its promoters, the company continues to conduct illegal activities in India and in Telangana. As many as 83 cases have been registered against the company in various states for running illegal money circulation scheme which is banned under PCMCS (Banning) Act 1978 and for violation of direct selling guidelines of the government of India. The Cyberabad police have cracked down on the company's illegal activities and registered as many as 39 cases in its limits alone.
Following action by the Telangana police, Vihaan Direct Selling (India) Pvt. Ltd, under which QNET conducts its illegal business, had stopped its activities for some time. However, now it has again restarted its activities with a new international scheme that promises to refund the money in one week and targets all sections of people. Earlier, the refund period was 30 days under the national scheme.
Vihaan Direct Selling (India) Pvt. Ltd. has duped people to the tune of Rs. 20,000 crore.
How the company lures people
QNET induces people to make money by selling products and enrolling members into its pyramid schemes. The company is now conducting motivation classes on Zoom and luring people to join the scheme promising good business opportunity but without revealing the company's name.
People are forced to enroll their own family members in the ponzi scheme which means that later in case of any fraud the victims cannot complain against their own family members. The company promises to refund the money within 30 days, in case people are not interested. The new members expect to earn huge commissions by enrolling new people into the company's schemes. However, later they lean that the company is running a ponzi (money circulation) scheme.
Advisory: People beware
The Cyberabad commissioner of police has issued an advisory asking people to be aware of the illegal activities of the so-called direct selling entities and not to fall prey to their promises of huge commissions. The public that should not invest money in the ponzi schemes of QNET, the advisory said, adding that making an investment in such ponzi schemes, publicizing them, or luring others to join in the schemes is itself an offence. The police said that if any person or company approaches anyone with exaggerated offers and attractive schemes, they should inform the nearest police station or send a complaint to Cyberabad Whatsapp number 9493625553.
