Cyberabad Police seek information from ED, IT, RBI on QNET operations in ex-techie suicide case

Notices sent to 500, including celebrities to explain connection with the firm 

Published: 02nd August 2019 04:26 AM  |   Last Updated: 02nd August 2019 09:22 AM   |  A+A-

Image for representational purposes. (Express Illustrations)

Express News Service

HYDERABAD:  The Cyberabad police who are probing the alleged suicide of a former techie, after he lost huge sums through investments in Hongkong-based MLM firm QNET, have already written to several investigating agencies including the Enforcement Directorate (ED), Income Tax (IT), Reserve Bank of India, among several others, about how the firm was running Ponzi schemes and have created thousands of investors from across the country. Since the racket was busted in January 2019, police have registered 38 cases and arrested more than 70 persons. 

They have also served notices for the second time to several Bollywood and Tollywood stars including Shah Rukh Khan, Boman Irani, Pooja Hegde, Allu Sirish and cricketer Yuvraj Singh, for their alleged links with QNET. The cops served notices first to the celebrities and 500 others in February 2019. They were asked to explain their links with QNET. 

As the company operates from Hong Kong and several other countries, the police have written to the ED to probe into the money laundering and tax evasion aspects, if any, that the firm was involved in.  The IT department was asked to verify the filing of returns by the firm and its associates. RBI was also notified to verify if the firm had necessary permissions to operate and collect investments from the public.Letters have also been written to Serious Fraud Investigation Office (SFIO), Registrar of Companies (RoC) and GST wings.

Stay up to date on all the latest Telangana 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.)


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 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 are those of the comment writers alone. They do not represent the views or opinions of 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. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp