In a recent development in Hyderabad, four individuals have approached the Central Crime Station (CCS) police, alleging that they were deceived by representatives of QNet, a company accused of running a Ponzi scheme. The victims claim they were lured with false promises of lucrative earnings through an e-commerce business.
The Complaint
One of the victims, a resident of Ameerpet, stated in her complaint that last year, when she was facing the possibility of losing her job, she sought help from her friend Saritha Reddy to find new opportunities. Saritha Reddy explained how her husband was making quick money through an e-commerce business and virtually lured the victim into QNet's alleged Ponzi scheme. The victim's confidence was gained by claiming that her husband was engaged in the e-commerce business as a part-time job but was earning substantial income.
How the Scheme Operated
The victim's friend's husband called her to explain the business. To gain her trust, he described it as a highly lucrative opportunity in e-commerce. He also mentioned that Harvard-educated individuals, doctors, chartered accountants, and several high-profile professionals were associated with this international business, according to CCS officials.
The accused informed her that his senior business partners would visit Hyderabad shortly and promised to arrange a meeting. He instructed her to attend in formal attire and carry a resume. The business was portrayed as purely e-commerce and product-based, with income earned through product sales and commissions. The victim was told she could withdraw within 30 days if unsatisfied. No disclosure was made that it was a multi-level marketing (MLM) scheme, and no transparent explanation was given about the products, pricing, or other details. The opportunity was described as rare, police said.
Mental Pressure and Coercion
The victim and others were added to two Telegram groups named 'Warriors' and '108' and provided with a few books. They were subjected to continuous mental pressure and coercive practices. They were forced to post daily updates in the '108' group regarding QNet activities, the victim recalled.
Financial Loss and Legal Action
After investing 14 lakh rupees, the victim and her family realized they had been duped. It was an MLM scheme, and they were not receiving any returns. Based on their complaint, CCS officials registered a case against 10 individuals, including QNet.
