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Charge sheet filed in QNet case against Ferreira, others
The company was accused of using the banned "binary pyramid" model in its marketing schemes, apart from duping the investors by promising high returns.
Mumbai, Dec 27 Mumbai Police today filed a 60,000-page charge sheet in the QNet scam case, in which former billiards champion Michael Ferreira is one of the accused, before a local court.
"We have filed the charge sheet against 31 accused including Ferreira," said special public prosecutor Pradeep Gharat. The charge sheet included statements of 140 witnesses, Gharat said.
Hong Kong-based QNet, a multi-level marketing firm, and its franchisees allegedly sold products such as magnetic disks with "healing" properties, herbal medicines and holiday schemes. The company was accused of using the banned "binary pyramid" model in its marketing schemes, apart from duping the investors by promising high returns.
The FIR was registered here in August 2013 under the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978, and Maharashtra Protection of Interest of Depositors Act. Police had told the court here earlier that Ferreira held 80 per cent shares in a franchisee of QNet.
PTI
