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Fri, Jan 18, 2019 | Last Updated 12:16 am IST

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Adding a product to pyramid scheme is latest trend in Money Circulation Schemes

Adding a product to pyramid scheme is latest trend in Money Circulation Schemes
Adding a product to pyramid scheme is latest trend in Money Circulation Schemes

Sources from Hyderabad stated that QNet is the latest avatar, launched in 2012, of former money circulation companies Goldquest International Private Ltd (formed in 2001) and Questnet Enterprises India Private Ltd (formed in 2004) promoted by the QI group.  Accordingly QNet is a brand under Vihaan Direct Selling (India) Private Ltd. Its promoters have been forming new companies as and when the law enforcement agencies start taking legal action against their money circulation frauds based on complaints across the country.

Furthermore to deceive new entrants to their network, they come up with a new brand every time they legally and socially exhaust themselves. Meanwhile the official said “They target the most vulnerable sections of society and the products are mostly unbranded and sourced from unscrupulous agencies. Perhaps they are valueless and are typically overpriced in the name of magical remedies or craftsmanship or uniqueness etc. Further this huge exaggerated margin enables promoters to pay commission to some extent.”

Adding a product to pyramid scheme is latest trend in Money Circulation Schemes

Moreover such companies also pose a serious threat to national security, as overseas promoters control huge personal data of persons, including government servants, and siphon off huge money from the country.

Adding a product to pyramid scheme is latest trend in Money Circulation Schemes
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