QNet Ltd, formerly known as QuestNet, GoldQuest, and QI Limited, is a Hong Kong-based multi-level marketing (MLM) company owned by the QI Group. The company markets a variety of products including energy, weight management, nutrition, personal care, home care, and fashion accessories on an e-commerce platform. It operates legally in some countries, but has also been charged with Ponzi scheme and multi-level marketing in countries such as India.
QNet is a direct selling industry, where people gets fooled and they train the other individuals to become fools.
The Bombay High Court while rejecting anticipatory bail applications of five accused in the multi-crore QNet scam, has observed that “the deceit and fraud is camouflaged under the name of e-marketing and business”. This scheme is undoubtedly a multi-level marketing (MLM) activity and a pyramid structure of such scheme is prepared so that the members are promised to get money on purchase and sale of products, the Court said.
In a hard-hitting order on 6 May 2016, Justice Mridula Bhatkar said, “The motto of the company ‘sell more, earn more’ appears very attractive and innocuous. However, this motto is fully camouflaged. The company stands on a basic statement that people can be fooled. Thus, the true motto is ‘sell more earn more’ by fooling people. In fact it is a chain where a person is fooled and then he is trained to fool others to earn money. For that purpose, workshops are conducted where study and business material is provided with a jugglery of words, promises and dreams. Thus, the deceit and fraud is camouflaged under the name of e-marketing and business.”
“It has very grave and serious impact on the economic status and mental health of the people on a large scale. On considering parameters of section 438 of the Code of Criminal Procedure, I am not inclined to protect the accused. It won’t be out of place to mention that such circulation is required to be stopped. It is necessary for the prosecution to take injunctive steps against this business activity, which is prima facie, illegal. Though by stopping this business, a large group of people may get financially affected, however, it will save larger groups of people from becoming prey of this activity,” the Bombay HC said.
Padma Bhushan awardee and four-time world billiards champion Micheal Ferreira(Brand Ambassador of Q-Net) and his partner Malcolm Desai got relief after the Supreme Court on Monday granted them bail in the alleged Rs 1,000 crore QNet multilevel marketing case, a report in The Times of India said. Both will be released on a bail bond of Rs 25,000 each.
I got to know about QNet when one of my friends had invested Rs 300,000 in the company by taking loan from a private bank even without informing her relatives & friends. She was assured by QNet that she would become a billionaire within a year. Her job was just to sell products & services to other people. She was assured a commission of 40-50% on percentage of sales. Month’s passes she didn’t get even penny money.
Later point of time she realized I am cheated by the company. So she informed to her parents. Then I researched in the internet, and got to know that it was a scam being operated in multiple countries around the world.
Mostly IT employees have been affected by this scam.
I would suggest before investing in a schemes, kindly read the conditions written in the agreement, research in the internet. Do not fall in to the prey.
Peri Ram Prasad
Udyen Jain & Associates