Thu, Mar 23, 2017 | updated 09:50 AM IST

Qnet scam: Padma Bhushan awardee Michael Ferreira arrested

Updated: Oct 19, 2016 10:39 IST

Hyderabad (Telangana) [India], Oct. 19 (ANI): Hyderabad police took former World Billiards Champion and Padma Bhushan awardee Michael Ferreira along with three others in their custody in connection with an FIR registered against them in a multi-crore rupee Qnet scam multi-level marketing (MLM) fraud case.

After Ferreira's anticipatory bail was rejected by the Supreme Court, who was booked by the Economic Offences Wing, surrendered in a special Maharashtra Protection of Interests of Depositors Act court on October 1.

He was first remanded to EOW custody till October 13 and then to judicial custody, after which the Hyderabad police sought his transit remand.

Earlier, a Honk Kong based company had started its business in India with its headquarters in Bangalore.

It operated in India under the 'Vihaan Direct marketing selling company' which sold products like magnetic disks, herbal products and holiday schemes.

An FIR in connection with the alleged Qnet scam was registered in April 2013 after Gurupreet Singh Anand, a member who did not get the promised returns, lodged complaint.

Ferreira and his other associates were directors of Vihaan Direct Selling India (Pvt) Ltd, which was running and operating the illegal money circulation scheme under the name and style of QNET -previously known as Questnet in India.

Nearly 5 lakh investors from across the country were allegedly cheated in this scam. (ANI)

QNET has been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to lure investors. (ANI)

New Delhi [India], Mar. 23 (ANI): Condemning the recent terror attack outside the Houses of Parliament in London, President Pranab Mukherjee on Thursday said terrorism must be met through collective action by the international community.

Full Story >>

Mumbai (Maharashtra), Mar. 24 (ANI): Thousands of patients have been left to suffer and bear inconvenience at public hospitals as the resident doctors of Maharashtra continued their strike for the fourth day.

Full Story >>

Mumbai (Maharashtra) [India], Mar. 23 (ANI): At a time when protesting doctors were about to end their agitation, yet another attack on a resident colleague took place last night by a patient's relatives at city's Sion Hospital.

Full Story >>

New Delhi [India], Mar. 23 (ANI): Condemning the recent terror attack outside the Houses of Parliament in London, Prime Minister Narendra Modi on Thursday said India stands with the United Kingdom in the fight against terrorism.

Full Story >>

Mumbai/New Delhi [India], Mar. 23 (ANI): Hailing newly-elected Uttar Pradesh Chief Minister Yogi Adityanath's directive to ban pan masala in the government offices, the Bharatiya Janata Party (BJP) on Wednesday said the decision was a positive step and should be taken in the correct perspective.

Full Story >>

Bengaluru/New Delhi [India], Mar. 23 (ANI): Close on the heels of Congress leader S.M. Krishna joining the Bharatiya Janata Party (BJP), the grand old party said his ouster from the party was not loss for them.

Full Story >>

New Delhi [India], Mar. 23 (ANI): Day after former Congress leader S.M. Krishna joined the Bharatiya Janata Party (BJP), Nationalist Congress Party (NCP) dubbed his decision as 'opportunism' saying that a person of his reputation was not expected to be disloyal and selfish.

Full Story >>

Patna/New Delhi [India], Mar. 23 (ANI): The Janata Dal (United) on Wednesday hailed newly-elected Uttar Pradesh Chief Minister Yogi Adityanath's decision to ban 'pan masala' in the government premises in the state.

Full Story >>

Chennai (Tamil Nadu), Mar. 23 (ANI): Welcoming the Election Commission of India's (ECI) move to freeze the Anna Dravida Munnetra Kazhagam (AIADMK) election symbol, the Dravida Munnetra Kazhagam (DMK) on Thursday said V.K. Sasikala's faction had tried to illegally usurp the office of party general secretary.

Full Story >>

New Delhi [India], Mar. 23 (ANI): The Supreme Court will today continue the hearing on the plea filed by NGO Common Cause seeking complete ban on the illegal mining across Odisha.

Full Story >>

New Delhi [India], Mar. 23 (ANI): The Supreme Court will today continue the hearing in connection with the plea of Indian Hotels Company Limited (IHCL) against the Delhi High court order allowing the New Delhi Municipal Council (NDMC) to auction the Taj Mansingh Hotel, located in the Lutyen's zone.

Full Story >>

New Delhi [India], Mar. 23 (ANI): The Supreme Court will today hear the conspiracy charges against Bharatiya Janata Party (BJP) leaders Lal Krishna Advani, Murli Manohar Joshi and Uma Bharti in connection with the 1992 Babri Masjid demolition case.

Full Story >>

New Delhi [India], Mar. 23 (ANI): The Delhi High Court will today continue hearing Swaraj India's plea seeking allotment of common symbol to the party to contest the upcoming municipal elections in the national capital.

Full Story >>

Chennai (Tamil Nadu)[India], Mar. 23 (ANI): Expressing disappointment over the Election Commission of India (ECI) decision to freeze the Anna Dravida Munnetra Kazhagam (AIADMK) election symbol, former Tamil Nadu chief minister O. Panneerselvam said he would raise his voice legally to get back the symbol.

Full Story >>

Chennai (Tamil Nadu), Mar. 23 (ANI): Soon after the Election Commission of India (ECI) decided to freeze the Anna Dravida Munnetra Kazhagam (AIADMK) election symbol, party deputy general secretary TTV Dinakaran asserted the decision would not affect them in the upcoming R.K. Nagar by-polls.

Full Story >>

Chennai (Tamil Nadu) [India], Mar. 22 (ANI): The Election Commission of India (ECI) has decided to freeze the All India Anna Dravida Munnetra Kazhagam (AIADMK) election symbol of 'two leaves', after representatives of former Tamil Nadu chief minister O. Panneerselvam and former party general secretary V.K. Sasikala factions made their claims for it.

Full Story >>

New Delhi [India], Mar 22 (ANI): In a hair raising incident, a woman and her daughter were rescued today after they were allegedly held captive in a room by the father-in- law for more than a year.

Full Story >>

New Delhi [India], Mar. 22 (ANI): With one woman killed and several 'catastrophically' injured in a terror attack outside the Houses of Parliament in London, United Kingdom, the Ministry of External Affairs (MEA) on Wednesday strongly condemned the attack stating that terrorism has no place in a democracy.

Full Story >>

New Delhi [India], March, 22 (ANI): The Congress on Wednesday lashed out at the party's veteran leader S.M. Krishna after he joined the Bharatiya Janata Party (BJP), saying that the grand-old party respected him but the former changed his allegiance for 'personal greed'.

Full Story >>

Lucknow (Uttar Pradesh) [India], Mar 22 (ANI): After Uttar Pradesh Chief Minister Yogi Adityanath swore to protect women in the state and launched 'Anti-Romeo' squads to check on eve-teasing in public areas, Additional Director general of police (ADG) Daljeet Choudhary on Wednesday stated similar views to protect women from getting eve teased or molested.

Full Story >>