Multi-level marketing firm chief detained in Chennai
May 24th, 2008 - 10:08 pm ICT by admin
Chennai, May 24 (IANS) A multi-level marketing firm chief was detained Saturday here for one year under the Goonda Act following seizure of wealth amounting to over Rs.2.89 billion, the police said. Quest Net’s managing director Pushpam Appala Naidu, 39, and her company have been accused of cheating over 9,000 people across the country. The act allows preventive detention without trial for a year.
Naidu’s assets were spread in several Indian cities as property, cash, shares and gold. Notices have been issued by the central government agencies against the company for allegedly evading duty to the tune of Rs.260.57 million on gold imports since 2003, for which a private Indian bank also has been asked to respond to charges of complicity, police sources said.
Her detention follows her earlier arrest in 2003 for similar offences. Her colleague, Augustine Joseph, at present in police custody, is also likely to be jailed for a year under the same law, police sources added.
Pushpam and six of her colleagues were arrested May first week following complaints of cheating and criminal breach of trust.
The company is said to be banned in Sri Lanka, Indonesia and the Philippines.
Quest Net’s principals - Gold Quest, a multinational company present in over 100 countries - has, however, denied any wrongdoing in a press communiqu
- Quest Net officials may be detained under Goonda Act - May 13, 2008
- Chennai police recover gold coins from MLM firm - May 04, 2008
- Gold Sukh fraud: Rajasthan police team to leave for Hanoi - Feb 15, 2012
- Businessmen who duped investors of Rs.2,000 mn extradited - Mar 20, 2012
- Accused in multi-million fraud arrested - Jan 29, 2012
- Karnataka IT minister resigns over land scam (Lead) - Dec 03, 2010
- Man murdered, body parts strewn across Andhra town - Nov 08, 2010
- Four held for cheating telecom company Uninor (Lead) - Jan 01, 2011
- More gold seized from MLM firm in Chennai - May 05, 2008
- IIT student suspected in murder to be taken to court - Oct 26, 2009
- Infosys employee commits suicide at Hyderabad centre - Feb 18, 2011
- Yeddyurappa's minister faces illegal land deal case (Lead) - Dec 02, 2010
- Four arrested for cheating telecom company - Jan 01, 2011
- Charges dropped, Naidu arrives in Hyderabad (Night Lead) - Jul 21, 2010
- Two more arrested in Rajasthan's multi-million rupee fraud - Feb 18, 2012
Tags: breach of trust, central government agencies, complicity, criminal breach of trust, fortnight, gold imports, gold quest, indian cities, managing director, marketing firm, multi level marketing, multinational company, naidu, police custody, police sources, preventive detention, principals, rs 2, seizure, wrongdoing