Hyderabad Police Bust Multi-Level Marketing Scam, Six Arrested
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Hyderabad: The Hyderabad Police have busted an international gang involved in multi-level marketing scam across the country. According to police, a few old scammers, who were committing fraud in the name of QNET, have launched another racket in the name of IGNITE.
The gang was busted within 18 days of the company’s launch, thereby preventing a scam which would have been worth Rs 5,000 crore.
Six persons were arrested in this connection. They were remanded to judicial custody, the police said. According to sources, the fraudsters have been trying relaunch QNET under different other names for the past few years.
On May 18, a dummy company called IndiConnect Ventures was registered in Chandigarh. In the name of that company, a strategy was formulated to expand a chain link racket called IGNITE across the country. The police found that the gang was using innovative methods to attract people.
They targeted the families of middle-class and government employees through WhatsApp groups, Zoom call meetings, and popular shopping malls. The police found that the QNET gang collected Rs 60,000 in the name of membership fee by handing over a simple electric toothbrush worth only Rs 600 in the market.
Content retrieved from: https://www.etvbharat.com/en/bharat/hyderabad-police-busts-multi-level-marketing-scam-operating-from-chandigarh-six-arrested-enn26061106620.
