KOCHI: The Ernakulam North Police have intensified the investigation to net 10 accused, including former world billiards champion Michael Ferreira, in the QNet money chain fraud case.Following the interrogation, the police received information that 10 more persons including Ferreira, Padmakka aka Padma, a Chennai native, and her son Chetan, were part of the cheating episode. The police team then begun an inquiry to locate the absconding suspects with the help of the Cyber Cell. The police indicated they have received clues on the hideouts of a few suspects.
The police team expects many more complainants to turn up against Ocean Training Solution, claiming to be a franchise of Vihaan Direct Selling Ltd, the direct selling agency of Malaysia-based QNet. On Monday, the Ernakulam North police arrested five persons: Shameem, 26, from Mattancherry; Menesh, 28, from Idukki; Mohammed Ramees, 24, of Elamakkara; Joyal Joshy, 27, of North Paravur and Jishnu Mohan, 27, of Aluva, on charges of duping by running banned binary pyramid business model.
Earlier, in 2013, an inquiry by the Economic Offences Wing (EOW) of Mumbai Police found QNet duped nearly 5 lakh investors across the country. Following this, Ferreira and few others were arrested and the registration of the company was cancelled. “Educated youths have fallen prey to the dubious multilevel marketing schemes,” said a police officer. “According to IT experts, the accused used to impart brainstorming sessions, known as a process of hypnotic manipulation in the guise of e-commerce business.” The police termed QNet’s fraud as ‘financial terrorism’. “The accused have opened offices in Thiruvananthapuram and other places in the state, apart from Kochi,” said an officer.
Earlier, in 2013, an inquiry by the EOW of Mumbai Police found QNet duped nearly 5 lakh investors across the country.