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QNet scam: 57 arrested in massive crackdown by Cyberabad police

ANI  |  Hyderabad (Telangana) [India] 

The City Police on Tuesday came down heavily on a purportedly run by multi-level marketing company QNet, arresting 57 people involved in 14 cases of and swindling of money worth thousands of crores.

According to reports, was accused of running one of the biggest Ponzi scams in India, cheating at least three lakh people.

VC Sajjanar, of Police, told reporters here: "This is a case of cheating by Vihaan Direct Selling Pvt Ltd., a sub-franchise of group in marketing under the brand name of "

The was busted by the sleuths of in various parts of Telangana, Andhra Pradesh, and in which 57 persons were arrested in 14 cases registered against

"There are a total of 30 cases registered on QNet in Cyberabad. There are eight cases which are under investigation with CID," said

"QNet is a Hong Kong-based multi-level marketing company owned by the group. The company invoked many Ponzi schemes and binary schemes, vacation packages and business tactics which were illegal," he further said.

QNet is the of group of companies founded by and in Hong Kong in 1998. The company's and are the shareholders of Now, the company has opened its branches all across the world.

QNet has appointed Vihaan Direct Selling Pvt Ltd as its sub-franchise in India, while and are said to be the directors of the company.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 20:36 IST