Victims file plaint after ‘investing’ Rs 14L in QNet ponzi scheme

Hyderabad: Claiming that they were lured and cheated by the representatives of QNet, four victims sought the help of Hyderabad's Central Crime Station (CCS) police a few days ago.In the complaint, a victim who is a resident of Ameerpet said that last year, when she faced the threat of losing her job, she approached her friend Saritha Reddy, seeking her help to give leads on new opportunities.Explaining how her husband was making quick money through an e-commerce business, Saritha Reddy lured the victim virtually into QNet's alleged ponzi scheme. The victim's confidence was gained by claiming that her husband was doing the e-commerce business as a part-time job but making good earnings."The victim's friend's husband called the former to explain the business. To gain her confidence, he described the business as a highly lucrative opportunity in e-commerce business. He also said that Harvard-educated persons, doctors, chartered accountants and several high-profile professionals were associated with this international business," CCS officials said.Officials said that the accused stated that his senior business partners would visit Hyderabad shortly and promised her to arrange a meeting with them. He asked her to attend in formal attire by carrying a resume."The business was purely e-commerce and product-based. Income would be earned through product sales and commissions. We could withdraw within 30 days if unsatisfied. No disclosure was made that it was a multi-level marketing (MLM) scheme. No transparent explanation was given about the products, pricing and other details. The opportunity was described as rare," police said."We were added to two Telegram groups — ‘Warriors' and ‘108', and provided with a few books. We were subjected to continuous mental pressure and coercive practices. We were forced to post daily updates in the ‘108' group regarding QNet activities," the victim recalled.After investing 14 lakh, the victim and her family realised that they were duped and it was an MLM scheme and they were not getting any returns. Based on their complaint, CCS officials registered a case against 10 persons, including QNet.