MLM Fraud: Three People Arrested in Separate Incidents in Hyderabad
Hyderabad: The Hyderabad Central Crime Station police nabbed three persons on charges of cheating people in the guise of Multi-level Marketing (MLM) schemes, in separate incidents here on Tuesday.
The arrested persons are G.Rajesh Khanna from Bengaluru, Maneesh from Himayathnagar and Syed Ajmal Mehdi Sajjad from Malakpet, who were found to be associated with two different companies including QNET (Vihaan Direct Selling India Pvt. Ltd), engaged in deceptive investment schemes.
Police said initially three cases were booked by the Mahankali police, which were subsequently transferred to the Central Crime Station for further investigation. Accordingly, cases were booked against 12 persons who established a bogus company named V-Empire at Swapnalok Complex in Secunderabad and collected money from unemployed youth and general public, promising high returns.
The prime suspect in the first case, Rajesh Khanna, in collusion with others, conducted motivation classes and lured people in the name of e-commerce business with the promise of monthly returns ranging between Rs.20,000 to Rs.60,000, based on investments ranging from Rs.50,000 to Rs.1.5 lakh.
“They operated a pyramid scheme disguised as a direct selling business, which is strictly prohibited by the government’s direct selling guidelines issued in 2017. During the investigation, 150 victims were examined, and their collective loss amounts to Rs.3 crore,” said CV Anand, Police Commissioner, Hyderabad. Additionally, 35 bank accounts belonging to Vihaan Direct Selling Pvt. Ltd. and others, containing Rs.54 crore, have been frozen, he added.
In a separate case, Maneesh Katti and Syed Ajmal Mehdi Sajjad, who worked as marketing in-charges for the company and promoted two fraudulent schemes, was arrested.
“These fraudulent schemes have attracted 44 individuals from Andhra Pradesh and Telangana to invest Rs.25 lakhs rupees each in the super market business. Tragically, over 300 individuals have collectively lost crores of rupees by investing in the individual distributor scheme,” the Commissioner said.
As part of the investigation, five accounts belonging to the suspects and individuals, containing Rs.6.5 crore were frozen.
Next Story:
-
Adani Bribery Case: KTR Demands Telangana Govt To Cancel All Contracts
![Adani Bribery Case: KTR Demands Telangana Govt To Cancel All Contracts]()
Hyderabad, Nov 22 (Maxim News): BRS working president KT Rama Rao demanded the Congress government in Telangana to cancel its agreements with the Adani Group, worth Rs 12,400 crore, and return the Rs 100 crore donation made by the group for the Skill University. The demand follows charges of corruption and bribery against industrialist Gautam Adani…
-
Raja Singh Sparks Controversy Again: Advises Ayyappa Devotees’ To Visit Vavar Mosque
![Raja Singh Sparks Controversy Again: Advises Ayyappa Devotees’ To Visit Vavar Mosque]()
Hyderabad, Nov 22 (Maxim News): Goshamahal BJP MLA Raja Singh, sparked controversy after advising Ayyappa Swamy devotees not to visit the Vavar mosque of Hazrath Vavarswami Darga and mosque—popularly known as Vavar mosque—when traveling to the Sabarimala Temple in Kerala.
-
Telangana: DCA Cracks Down On Fake Drug Claims For Critical Illness
![Telangana: DCA Cracks Down On Fake Drug Claims For Critical Illness]()
Hyderabad, Nov 22 (Maxim News): The Drug Control Administration (DCA), Telangana State seized several drugs that were circulating in the market with misleading claims of treating Cardiovascular disorders, blood pressure, Ophthalmic diseases/disorders, fevers, and diabetes, which is in contravention of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954, a DCA press release said.
-
Three Arrested For Practicing Allopathy In Telangana
![Three Arrested For Practicing Allopathy In Telangana]()
Hyderabad, Nov 22 (Maxim News): The drug inspectors of Telangana State Drug Control Administration (TSDCA) conducted raids on the premises of three quacks (unqualified medical practitioners), who were practicing allopathy, at different locations in Telangana State and seized substantial stocks of medicines worth Rs. 83,000, stored illegally for sale.
-
Like Praja Palana Forms, Now Caste Survey Applications On Road
![Like Praja Palana Forms, Now Caste Survey Applications On Road]()
Hyderabad, Nov 22 (Maxim News): The caste census survey applications have been found scattered again and this time near Tarnaka Metro station in the city on Friday. This is the second such incident being reported in the State.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page and Twitter and Instagram. For all the latest Hyderabad News updates
