Former billiards champion Michael Ferreira whose name figured in the sensational QNet scam surrendered, after which he was arrested by the economic offences wing and remanded to police custody.
QNet reportedly lured more than five lakh investors in different schemes ranging from Rs 30,000 to Rs 7 lakh. QNet, founded in Hong Kong by Vijay Eswaran in 1998, sells a variety of products, including energy, weight management, nutrition, personal care, home care, luxury goods, and fashion accessories on an e-commerce platform.
Ferreira, 78, a recipient of several awards and accolades including the Padma Bhushan, surrendered after his anticipatory bail plea was rejected by the Supreme Court.
Additional Sessions Judge D P Surana, who presides over a court set up under Maharashtra Protection of Interest of Depositors, however, sent Ferreira and others to police custody till October 13.
Last week, the Supreme Court had directed the five accused — Ferreira, Malcolm Desai, stakeholders of Vihaan Direct Selling (India) Pvt Ltd, Srinivas Rao Vanka and Magaral Veervalli Balaji, directors of Vihaan Direct Selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd — to surrender within a week.
Transview handles QNets multi-level marketing (MLM) operations in India.
DH News Service![]( "Ferreira")
Former billiards champion Michael Ferreira whose name figured in the sensational QNet scam surrendered, after which he was arrested by the economic offences wing and remanded to police custody.
QNet reportedly lured more than five lakh investors in different schemes ranging from Rs 30,000 to Rs 7 lakh. QNet, founded in Hong Kong by Vijay Eswaran in 1998, sells a variety of products, including energy, weight management, nutrition, personal care, home care, luxury goods, and fashion accessories on an e-commerce platform.
Ferreira, 78, a recipient of several awards and accolades including the Padma Bhushan, surrendered after his anticipatory bail plea was rejected by the Supreme Court.
Additional Sessions Judge D P Surana, who presides over a court set up under Maharashtra Protection of Interest of Depositors, however, sent Ferreira and others to police custody till October 13.
Last week, the Supreme Court had directed the five accused — Ferreira, Malcolm Desai, stakeholders of Vihaan Direct Selling (India) Pvt Ltd, Srinivas Rao Vanka and Magaral Veervalli Balaji, directors of Vihaan Direct Selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd — to surrender within a week.
Transview handles QNet's multi-level marketing (MLM) operations in India.
DH News Service
QNet reportedly lured more than five lakh investors in different schemes ranging from Rs 30,000 to Rs 7 lakh. QNet, founded in Hong Kong by Vijay Eswaran in 1998, sells a variety of products, including energy, weight management, nutrition, personal care, home care, luxury goods, and fashion accessories on an e-commerce platform.
Ferreira, 78, a recipient of several awards and accolades including the Padma Bhushan, surrendered after his anticipatory bail plea was rejected by the Supreme Court.
Additional Sessions Judge D P Surana, who presides over a court set up under Maharashtra Protection of Interest of Depositors, however, sent Ferreira and others to police custody till October 13.
Last week, the Supreme Court had directed the five accused — Ferreira, Malcolm Desai, stakeholders of Vihaan Direct Selling (India) Pvt Ltd, Srinivas Rao Vanka and Magaral Veervalli Balaji, directors of Vihaan Direct Selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd — to surrender within a week.
Transview handles QNets multi-level marketing (MLM) operations in India.
DH News Service
Former billiards champion Michael Ferreira whose name figured in the sensational QNet scam surrendered, after which he was arrested by the economic offences wing and remanded to police custody. QNet reportedly lured more than five lakh investors in different schemes ranging from Rs 30,000 to Rs 7 lakh. QNet, founded in Hong Kong by Vijay Eswaran in 1998, sells a variety of products, including energy, weight management, nutrition, personal care, home care, luxury goods, and fashion accessories on an e-commerce platform.
Ferreira, 78, a recipient of several awards and accolades including the Padma Bhushan, surrendered after his anticipatory bail plea was rejected by the Supreme Court.
Additional Sessions Judge D P Surana, who presides over a court set up under Maharashtra Protection of Interest of Depositors, however, sent Ferreira and others to police custody till October 13.
Last week, the Supreme Court had directed the five accused — Ferreira, Malcolm Desai, stakeholders of Vihaan Direct Selling (India) Pvt Ltd, Srinivas Rao Vanka and Magaral Veervalli Balaji, directors of Vihaan Direct Selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd — to surrender within a week.
Transview handles QNet's multi-level marketing (MLM) operations in India.
DH News Service