According to the Indian online magazine Moneylife:
"Tightening the noose around QNet, the economic offences wing of Mumbai police froze two bank accounts that have Rs45 crore in balance. Meanwhile, the police custody of Manjunath Hegde, arrested in the same case has been extended
Economic offences wing (EOW) of Mumbai police, which is probing QNet has frozen two bank accounts related with the Hong Kong-based controversial multi-level marketing (MLM) operator. These bank accounts reportedly have a balance of Rs45 crore (US$10 million). In addition, the police custody of Manjunath Hegde, arrested in this cheating case, has been reportedly extended, says sources.
Last week, EOW registered a case against QNet, for allegedly duping thousands of investors by selling them plastic and glass products terming them miraculous objects for treating severe diseases like Cancer.
The complainant, Gurupreet Singh Anand, a computer consultant from Lokhandawala, Andheri stated that his wife was duped for Rs30,000 by some people who had introduced themselves as the independent representatives (IRs) of QNet. Anand told the police, “They (IRs) had said that one of the bio-products my wife bought could be used to treat my 12-year-old son's brain related diseases.”
The first information report (FIR) names five accused, including QNet's Hong Kong-based founder Dato Vijay Eswaran, a Malaysian by birth and an Indian by ethnicity, who is photographed hobnobbing with the Prince of Saudi Arabia, in order to enhance its credibility in the Gulf">
Source: Moneylife
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