Millennium Post

QNet case: Three company representatives arrested

Three representatives of QNet, a Hong Kong-based multi-level marketing company allegedly involved in a Rs 425-crore fraud here, have been arrested from the city, police said on Tuesday.

Sayan Chatterjee, Sameer Naik and Abhinav Sharma were arrested on Monday, they said.

“The accused were produced before a court which remanded them in police custody till January 12,” said N Kapase, Inspector (Economic Offences Wing).

While one of them is associated with the controversial company since 2007, the others enrolled with it in 2012, the officer said.

“The trio pocketed anything between Rs 15 to Rs 60 lakh through different schemes over the years,” Kapase added.

The EOW had earlier arrested 12 persons for allegedly duping investors by selling QNet products, including magnetic disks, herbal products and holiday schemes, through alleged fraudulent means.

EOW has invoked the stringent Maharashtra Protection of Interest of Depositors (MPID) against the company, which has denied any wrongdoing on its part.

QNet has also been accused of using the banned binary pyramid business model. An FIR in the case was registered in August in 2013.

The accused had been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.

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