HYDERABAD:
Central Crime Station
(CCS) sleuths have arrested former World Billiards Champion and
Padma Bhushan awardee
Michael Ferreira
and three others in the multi-crore QNET multi-level marketing (MLM) fraud case.
Police brought Ferreira, Magaral Balaji, Srinivas Vanka and
Malcolm Desai
to city on a prisoner transit (PT) warrant from Mumbai on Tuesday night. In 2016, eight victims lodged complaints with the CCS against the Hong Kong-based QNET multilevel marketing company for duping them to the tune of several lakhs through various fraudulent investment schemes and by promising to provide e-commerce jobs.
While CCS police had registered a case against the QNET management, another case was transferred to them from the SR Nagar police. Several cases were registered against QNET at Banjara Hills, Madhapur and other police stations.
Police suspect that hundreds of victims would be in the city and the fraud could be in crores of rupees. In September, the CCS police had arrested four local representatives of QNET and with the arrest of Michael Ferreira and others, they managed to lay their hands on the top management of the MLM firm..