With the increasing queue of 'Quest-Net' victims and the volume of financial irregularities committed by the online network-marketing company rising, the City police have decided to hand over the case to the CoD.
Initial investigations into the fraud committed by Quest-Net India Limited has revealed the firm had duped people to the tune of several hundred crores across the country, said police sources.
Interestingly, the directors of this Chennai-based company, including MD Pushpam Appal Naidu, are now ‘out of the country’. Police have no information about their whereabouts.
The online network marketing company had spread its tentacles in various parts of Karnataka in just ten years.
The number of victims has increased from 800 to 2,500 in just a week in Bangalore alone.
“We have received 2,500 complaints and are expecting more complaints,” said a police officer.
To me, the product selling price is higher than it should be because:
a) they have to pay royalty
b) they have to pay their workers in factories (it is not easy to make a model@artist face in a gold coin)
c) other cost like shipping and handling, management, etc.
In fact, in Malaysia a 10gram gold (RM1150) were sold at RM4800 because it has a unique shape compared to other gold chain.
by X on 4/12/2008 5:06:11 AM
When I joined I was NOT told that the cost of the gold coin is worth around Rs.8000 only. I thought for the full value I wd receive the gold coin. Almost min Rs.20000 of the amount we pay is not accounted. Though the company is saying that some money goes as royalty, why a person should loose Rs.20000 to earn Rs.11500 by purchasing a gold coin.What is the need to introduce such a product? Is it ethical to earn money by making somebody to loose their money? (I mention about gold coin only)
by X on 4/11/2008 10:44:43 PM
I have also joined because of the trust with my friend. I paid Rs.32000. Later I understood that it is purely a cheating business (gold coin). Now the very valuable friendship has broken. I pray god that no body should be cheated like this henceforth. Money makes people not to bother about the relationships, which is very valuable. Please think many times, consult few people, before taking-up any such businesses.
by sameer on 4/5/2008 2:10:19 PM
Hi,
If this is the case why are the people not arrested who are still running this scam in mumbai and other parts of the world.Why is the company not banned.U being media please help so that no innocent people are looted and cheated.
