Hyderabad Police arrest five QNET representatives in Goa over ₹7.5 lakh pyramid scheme fraud
Hyderabad Police arrested five individuals in Goa linked to a QNET pyramid scheme fraud involving a ₹7.5 lakh investment. The suspects were apprehended during a company event following a complaint from a victim who was misled by the MLM business model.
Why it matters
This case highlights the ongoing challenges of regulating multi-level marketing schemes and protecting consumers from financial fraud.
The Hyderabad Police have arrested five alleged QNET representatives from a resort in Goa in connection with a multi-level marketing (MLM) and money circulation fraud case in which a man was allegedly cheated of ₹7.5 lakh.
The arrests were made by the Economic Offences Wing (EOW) of the Central Crime Station (CCS) during a raid at a resort in Candolim, where the accused had gathered for a company event. Three luxury vehicles and mobile phones containing digital evidence were also seized.
The arrested persons, all natives of Kerala, have been identified as Mohammed Fawaz, Aswin Suresh, Vinu Johnson D’Cruz, Manoj Ravindran Nair Subbalakshmi and Varikottuchalil Sivarajan Balraj.
According to the police, the case was registered following a complaint by Sardar Sharanpal Singh, who alleged that he was contacted through Instagram while searching for gym space in Hyderabad and Bengaluru.
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