QNet scam: Former world Billiards champion Ferreira granted interim relief

  • PTI, Mumbai
  • Updated: Jan 23, 2014 12:20 IST

Former world Billiards champion Michael Ferreira was on Wednesday directed by a sessions court to appear before Mumbai police by January 27 in connection with the Rs 425-crore scam allegedly executed by a multi-level marketing firm QNet.

The court was hearing the anticipatory bail application filed by Ferreira in connection with the scam.

The sessions court also granted interim protection to Ferreira from arrest by the Economic Offence Wing (EOW) of Mumbai police till January 31, when his application will come up for hearing.

His lawyers told the court on Wednesday that Ferreira was in Kuala Lumpur (Malaysia) and undergoing a medical treatment.

In the second week of December, the EOW of the city police, probing the QNet scam, had served summons to 75-year-old Ferreira, directing him to appear before them to quiz him about his association with the scam-hit company. However, he had not turned up.

The EOW has so far arrested nine team leaders of the QNet for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices.

QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

Ferreira, who was abroad on December 17, had said he would appear before the investigators as soon as he returns to India. He had also defended the controversial company.

The winner of the World Amateur Billiards Championship had also described as "outrageous, malicious and untruthful" the allegations against him of defrauding people through QNet.

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