QNET scam victim hangs self in Hyderabad; management denies allegations

The Cyberabad police investigating the cases against QNET and its agents, have so far registered 30 cases, and arrested 70 persons in connection with the multi-crore fraud, pulled off by the firm.

Published: 31st July 2019 10:22 AM  |   Last Updated: 01st August 2019 05:26 AM   |  A+A-

Suicide, rope, hanging, hang

For representational purposes (Photo | Express Illustration)

By Express News Service

HYDERABAD: A 31-year-old man, who had invested huge sums of money in the ponzi schemes promoted by QNET, the Malaysia-based MLM firm which cheated lakhs of investors across the country, killed himself after he did not get the promised returns.

Adapa Aravind

Adapa Aravind from Srikakulam in Andhra Pradesh, hanged himself from the ceiling fan at his residence on Wednesday morning. Aravind had quit his lucrative job as a techie and was working full time with QNET, said his family members. The Cyberabad police investigating the cases against QNET and its agents, have so far registered 30 cases, and arrested 70 persons in connection with the multi-crore fraud, pulled off by the firm.

Aravind resided in a shared flat with four others at an apartment in Chanda Nayak tanda, Madhapur.Aravind worked with an MNC in the city from 2010 to 2017. He quit his job and became a full-time worker for QNET.  Over the past two years, he invested `5 lakh from his earnings and borrowed `20 lakh from his father Ramachander Rao, a retired government lecturer and invested in the business. The family members blamed the company and its functionaries as responsible for his death.

QNET denies allegations

QNET denied allegations that Aravind’s death was a result of financial losses he incurred there. “This information is patently untrue and baseless. Based on company records, we can confirm that Aravind Adapa had been a distributor of QNET’s products since 2014.

Stay up to date on all the latest Hyderabad news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments(1)

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

  • Sudha

    Still government letting this criminals to run their scams.
    1 month ago reply
flipboard facebook twitter whatsapp