The Enforcement Directorate (ED), which had kept itself away from multi-level marketing firm QNet’s alleged Rs 425-crore “ponzi scheme scam”, has finally registered a case of money laundering.
Investigations had led to names of former world billiards champion Michael Ferreira and actor Boman Irani’s son Danesh.
Allegations against QNet first surfaced when one Gurpreet Singh Anand filed a complaint in April last year against the firm for defrauding people by selling them products “with curative powers”, as well luring thousands of investors into dubious investment schemes.
The matter was about to be closed, when, on August 22, 2013, the Mumbai Police carried out raids on the firm’s subsidiary offices in Mumbai and Bangalore.
Thereafter, the Economic and Offences Wing (EOW) of the Mumbai Police swung into action and froze assets of the firm and took into custody nine corporate executives under the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978.
Singh, in his complainant, had named Ferreira and Danesh.
The police last month issued a lookout notice against Ferreira, who was later questioned, and froze Danesh’s bank account.
While both of them were questioned, the Mumbai unit of the ED accepted an EOW first information report and registered a case under the Prevention of Money Laundering Act.
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