Hyderabad: QNET promoter Dig Vijay Singh was arrested at the Indira Gandhi International (IGI) Airport in Delhi on Saturday, October 17.
Singh was arrested after a Look Out Circular was issued by the Hyderabad police in connection with a Rs 10,000 crore Multi-Level Marketing scam. The Hyderabad Central Crime Station (CCS), Detective Department, took custody of Singh at the IGI Airport Police Station and brought him into the investigation.
Police said they seized two mobile phones from him and would seek his custody for further interrogation.
The case involves allegations of large-scale financial fraud linked to QNET and Vihaan Direct Selling (India) Pvt. Ltd., with investigators examining the roles of promoters, associates and suspected international links.
So far, the police have examined 43 victims and also frozen a bank account belonging to Vihaan Direct Selling India Pvt. Ltd., containing approximately Rs 4 crore, as part of efforts to trace and secure funds linked to the alleged fraud.
The police said that the accused deployed binary business models and e-commerce activities to attract the victims. The victims are tricked into making large investments and are promised high returns. According to Central Crime Station Police, Singh was a key member of the QNET network and allegedly promoted the business through Zoom meetings and social media platforms, encouraging people to invest lakhs of rupees.
The investigation is examining whether the business operations were coordinated from Dubai, along with promotional activities conducted in India and other countries.
The police suspect that the scam is worth Rs 10,000 crore, with lakhs of victims and multiple cases filed across the country. In Hyderabad, the case is registered under Sections 318(4) for cheating, 316(2) for breach of trust, and 61(2) for criminal conspiracy of the Bharatiya Nyaya Sanhita (BNS), Section 5 of the Telangana Protection of Depositors of Financial Establishments (TSPDFE) Act, and Sections 3, 4, 5 and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act.
