Hyderabad : Former world billiards champion Michael Ferreira arrested by police in QNet fraud
Hyderabad, Oct 19: Central Crime Station (CCS) sleuths of Hyderabad have arrested Padma Bhushan awardee cum former Billiards Champion Michael Ferreira and three others in multi crore Qnet multi level marketing fraud case.
Police brought Michael, Magaral Balaji, Srinivas Vanka and Malcolm Desai to Hyderabad on a Prisoner Transit (PT) warrant from Mumbai on Tuesday night.
In 2016, eight victims lodged complaints with CCS sleuths against the owners of Hong Kong based QNet multilevel marketing company for duping them to the tune of several lakhs through various fraudulent investment schemes and by promising to provide e-commerce jobs.
While CCS police have registered one case against the QNet management, another case was transferred to them from the SR Nagar police. More cases against QNet are registered at Banjara Hills, Madhapur and other police stations.
Police suspect that hundreds of victims will be in the city and the fraud amount would be in crores of rupees. In September, CCS police arrested four local representatives of QNet and with the arrest of Michael and others, they have managed to lay their hands on the top management of QNet.
CCS DCP Avinash Mohanty confirmed the arrest of Michael Ferreira and three others in QNet multi level marketing fraud.