Amway India CEO Arrested for Financial Fraud
By PTI | Published: 27th May 2014 11:39 AM |
HYDERABAD: William S Pinckney, Chairman and CEO of Amway India was today placed under arrest by the Andhra Pradesh Police in connection with a complaint against the direct-selling firm.
Kurnool Superintendent of Police Raghurami Reddy said Pinckney was apprehended in Gurgoan yesterday and was brought to Kurnool on a warrant. The arrest was based on a complaint alleging unethical circulation of money through Amway's operations.
"He will be produced in the court shortly. The CEO has been booked under the Prize Chits and Money Circulation.
Schemes (Banning) Act," Reddy told PTI.
This is the second time that the Amway India CEO has been taken into custody. A year ago Kerala Police arrested Pinckney and two company Directors on charges of financial irregularities.