QNet Scam Protests
With signs that read Ban QNET, protesters marched this last weekend at Freedom Park which is located in the Central Business District of the city of Bengaluru, Karnataka, India. They are demanding action against QNet, a MLM company recruiting heavily in India.
Back in April, a similar protest was held outside Michael Ferrira‘s house.
QNet Ltd, formerly known as QuestNet, GoldQuest, and QI Limited, is a Hong Kong-based direct selling company owned by the QI Group. The company sells a variety of products including energy, weight management, nutrition, personal care, home care, luxury goods, and fashion accessories.
The protesters said they were forced to bring in more investments from family members and friends to recover their initial investments. They claim the company was selling products under a pyramid scheme and collecting investments from people by promising high interest rates.
“My parents have no knowledge about this and it’s a daily struggle. We were given something called a ‘magic script’ in the first meeting and we were told senior executives would meet us and explain about the company. There’s a lot of pomp and show about the meeting as though we’re getting the chance of a lifetime by investing in this company. They create a negative atmosphere about our current earnings and coerce us into investing large amounts,” he said, adding that details of the business and even the name of the company were withheld till the refund period for the investment lapsed. – Source timesofindia.indiatimes.com
A total of 22 First Information Reports were registered in 2017 in Bengaluru by around 40 individuals who accuse the firm of taking their money after promising huge returns, but failed to deliver.
Each of these individuals has been allegedly duped of anywhere between ₹2.5 lakh ($3,842) and ₹6 lakh ($9,222), totaling ₹1.28 crore ($196,736).
A First Information Report (FIR) is a written document prepared by the police when they receive information about the commission of a cognizable offence. A cognizable offence is one in which the police may arrest a person without warrant. They are authorised to start investigation into a cognizable case on their own and do not require any orders from the court to do so.
The victims were upset by the slow progress of the probe by the city police, and have now demanded that all 22 FIRs be clubbed together and investigated by the Economic Offences Wing (EOW) of the Criminal Investigation Department (CID). – Source thehindu.com
Back in March I reported on the QNET scam. Below is the conclusion I came to after looking into them.
QNET Scam Conclusion
In my opinion, QNET is another recruiting scam. Ridiculous claims about their products and the income you can make are used to bring new people into the scam. You will find hundreds of complaints about this company and their representatives. “Fake it until you make it” is the foundation of the claims made by QNET representatives. Each person who profits with QNET does so primarily from the payments of others who are themselves making payments in order to obtain their own profit. Retail sales information is not available for new distributors. I would avoid the QNET scam.