Hyderabad, July 23: The Hyderabad City Police have arrested five alleged QNET Independent Representatives in connection with a suspected pyramid and money circulation scam involving investments worth several lakh rupees.
The accused were arrested during raids conducted by the Central Crime Station Economic Offences Wing (CCS EOW) Team 1 at a resort in Goa.
Police Seize Luxury Cars and Digital Evidence
According to police, the raids were carried out during the Ocean 25th Anniversary event at a resort in Goa. Five accused from Kerala were arrested, while three others allegedly escaped. Efforts are underway to trace the absconding suspects.
Police seized three luxury vehicles, including a Toyota Fortuner, Kia, and MG Hector, along with five mobile phones and other digital evidence.
Officials said they are examining WhatsApp chats, Instagram messages and financial transaction records recovered during the operation.
Investigators alleged that the accused contacted victims through Instagram, promising lucrative business opportunities and high returns. One complainant was allegedly persuaded to invest ₹7.5 lakh and pay an additional ₹30,000 to attend an event in Goa.
Police further alleged that the accused promoted earnings by recruiting new members into a pyramid style money circulation scheme through online meetings and phone calls.
The Hyderabad Police warned the public to remain cautious of schemes promising unusually high returns in a short period. They said strict legal action would be taken against those involved in promoting or operating illegal pyramid and money circulation schemes.
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