#QNET FRAUD

[qnetscammer1245]

A lawsuit has been brought by the Enforcement Directorate against the MLM. - QNET Fraud

QNet, its creator and accomplices will now face ED sleuths in the Rs425 crore MLM scam after being investigated by the EOW of Mumbai police. The Enforcement Directorate (ED), India's body in charge of enforcing economic laws and combating economic crime, has filed a money laundering complaint in the Rs425 crore QNet scam.

[qnetscammers]

GoldQuest | QuestNet | QI Ltd and QI group

Ponzi schemes are fraudulent investment schemes that generate rewards for earlier investors by taking money from later participants. Such scams have nothing to do with direct selling or multi-level marketing (MLM), a common method of expanding a direct selling distributor network. Just like QNet scam. This company has various knowing name i.e., QI Group, Vihaan Direct Selling.

For More information :- Click now

[noisynutcrusade]

7 QNet scammers arrested in Togo, criminally charged

Seven QNet promoters have been arrested in Togo’s capital city Lome. As per a June 28th press-release from Togo’s National Police; On June 20, 2023, the Central Directorate of the Judicial Police caught seven (07) individuals; three Togolians and four Malians. They belong to a criminal network engaged in fraud and human trafficking by joining an illegal network marketing company called…

[saisandeep21]

QNET Scam | What Happens to Startup Captial Money Telugu | SCAMASTRA

[konektafrica]

The Wild Wild west of Fraud and Ponzi schemes

Africa has become the wild wild west of Ponzi schemes. The new and upcoming Ponzi artists are working hard to separate people from their hard earned savings. The impacts of scam and Ponzi schemes on vulnerable populations can be far-reaching and long-lasting, affecting not only individuals and their families but also the broader community and economy.

They undermine the real efforts for financial inclusion in many countries in Africa, as they also deter people from participating in formal legal financial services and lead to a distrust of legitimate investment opportunities.

First an appeal to greed. Investment schemes promise high returns on investment but rely on new investors' money to pay returns to earlier investors. In Africa, quick money schemes have become a widespread problem, to name the new scammy very active entreprenors:

Qnet,

MonHeveadotcom

Mekit Invest,

OpenAiMali,

Sonnedix,

PetronPay,

Mygoldrev,

ICC service,

J Global.

This article seeks to examine the reasons why Ponzi scheme artists are so easily defrauding millions of small investors savings in Africa, and the impacts of Ponzi schemes on the African economy, KonektAfrica try to propose potential solutions to address the problem.

The Vulnerability of Small Investors

We have all received our "Dear friend the Nigerian Prince email", and wondered how could one believe in such obvious misrepresentation of truth? Well, with socioeconomic and political contexts playing a significant role, the crucial factor is the lack of financial literacy. Which leaves many individuals unable to differentiate between legitimate investment opportunities and fraudulent schemes. Limited access to formal financial services and low levels of financial inclusion further exacerbate this issue, as many people turn to informal networks and non-traditional sources of credit and investment.

Additionally, the lack of clear legislation regarding new financial activities, —Crypto— high rates of unemployment, making people more likely to take risks in the hope of quickly improving their financial situation. This vulnerability can be exploited by scammers who promise 50% per week returns with little to no risk.

Another important factor contributing to the vulnerability of people in Africa to scams and Ponzi schemes is the widespread use of digital technology, particularly mobile phones, which has enabled new forms of financial fraud. With the rapid growth of mobile money services and online transactions, scammers can more easily target a broader range of potential victims, even in remote areas. Furthermore, weak regulatory environments and limited enforcement capacities in some African countries can make it challenging to effectively combat financial fraud, as scammers can operate with relative impunity. Social and cultural factors, such as the reliance on trust within close-knit communities, can also be manipulated by scammers who use personal relationships to recruit new investors. These factors, combined with the allure of high returns and the desire for a better life, can make people in Africa particularly vulnerable to scams and Ponzi schemes.

Small investors in Africa are particularly vulnerable to Ponzi schemes due to several factors, including limited financial literacy, limited access to formal financial services, and high levels of poverty. Many small investors are unaware of the risks associated with investing and are easily lured by promises of high returns. In addition, the lack of access to formal financial services leaves many small investors with limited investment options, making them more susceptible to Ponzi schemes.

The Impacts of Ponzi Schemes on the African Economy

The belief that only vulnerable Africans fall victim to scams and Ponzi schemes is debunked when one considers the cases of MMM Global and Bernie Madoff's infamous Ponzi scheme. MMM Global, created by Sergei Mavrodi, was a fraudulent investment scheme that operated in multiple countries, including Russia, China, and South Africa.

At its peak, MMM Global reportedly had over 30 million participants, and it is estimated that investors lost as much as $1.2 billion when the scheme collapsed. This global reach of MMM shows that individuals from various cultural, economic, and social backgrounds can be susceptible to such schemes, not just vulnerable populations in Africa.

Similarly, Bernie Madoff's Ponzi scheme, one of the largest financial frauds in history, targeted primarily affluent individuals and institutions in the United States and Europe. Madoff's scheme, which defrauded investors of an estimated $65 billion, ensnared a wide range of victims, including sophisticated investors, high-net-worth individuals, and even charitable organizations.

The fallout from Madoff's scheme was felt globally, demonstrating that financial scams and Ponzi schemes are not exclusive to vulnerable populations in Africa or any specific region. In fact, they can have a far-reaching impact, affecting people from all walks of life and socioeconomic backgrounds. The allure of high returns and the exploitation of trust and personal relationships are universal factors that contribute to the success of such schemes, transcending geographical and cultural boundaries.

The impacts of Ponzi schemes on the African economy are significant, including the loss of savings for small investors, the erosion of trust in the financial system, and the potential for wider economic impacts.

When a scam or Ponzi scheme collapses, investors often lose their entire investment, as the funds have been diverted to pay earlier investors or have been misappropriated by the scheme's operators. These losses are particularly devastating for those with limited financial resources. The consequences of such losses can extend beyond the immediate financial impact, as individuals struggle to recover from the financial setback, potentially leading to long-term (more)financial instability. The loss of savings and financial ruin resulting from scams and Ponzi schemes can have a profound and lasting impact on the lives of those affected, as well as on their communities and the wider economy.

Potential Solutions…(Keep reading)

[qndheeraj]

 In a significant breakthrough in what is being described as one of the largest ponzi schemes - the Qnet India Cyberabad Commissioner of Police stated that the scope of the scandal might be as much as Rs 5000 crores. 

[qnshreyas]

 The Bombay High Court noted that "the deceit and fraud is camouflaged under the banner of e-marketing and business" while rejecting the anticipatory bail requests of five suspects in the multi-crore QNET scam.

[qnhitesh12]

PATHMAN Senathirajah, the proprietor and overseer of the V-Group of organizations needed by the Mumbai police in the QNet Fraud, was spotted taking a selfie with South Indian whiz Rajnikant.

Read More...

[qnetscammers]

GoldQuest | QuestNet | QI Ltd and QI group

The Enforcement Directorate (ED), India's agency responsible for enforcing economic laws and combating economic crime, has frozen 36 bank accounts associated with Vihaan Direct Selling India Pvt Ltd, the master franchisee of multi-level marketing (MLM) company Qnet Ltd in India.

For more information :- Click Now

[noisynutcrusade]

Three QNet executives arrested in Hyderabad, India

Three QNet executives have been arrested on pyramid scheme fraud charges in Hyderabad, India. As reported by India Today on May 30th; The arrested persons are G.Rajesh Khanna from Bengaluru, Maneesh from Himayathnagar and Syed Ajmal Mehdi Sajjad from Malakpet, who were found to be associated with two different companies including QNET (Vihaan Direct Selling India Pvt. Ltd), engaged in deceptive…

[cdigitalss]

QNet pyramid scheme fraud warning from Russia

QNet pyramid scheme fraud warning from Russia

QNet has received a pyramid scheme fraud warning from Russia. As per the Central Bank of Russia’s October 6th warning, QNet exhibits “signs of a financial pyramid” scheme. QNet related websites cited by the CBR include “qnet.net”, “qnet.com.ru”, “qnet-official.ru” and “qnetrussia.ru”. QNet’s Hong Kong shell company corporate address is also listed in the warning. BehindMLM reviewed QNet in…

[hashtagghana]

@BooksBitcoin: RT @mathiasaserbire: A-G petitions court to dissolve QNET Limited; accuses company of fraud, illegality - Graphic Online https://t.co/E5eD3MLinT #branding #illegal #ponzi #networkmarketingbusiness #fraud #ponzi #investement #ghanabusiness #ghanaian #ghana #ghanajobs #ponzischeme #law #bitcoin #money https://t.co/dvaPdEK8kN

[thezerothapple]

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[qnetinfo]

2 persons named #Vijay👇

#Thalapathy serves #mankind, but Absconder #VijayEshwaran🤬 a #fraud #LiarInChief of #QNET ruining #mankind in #GoldQuestscam #QUESTNETSCAM and #qnetscam

#VijayFansRuleTwitter

#HappyBirthdayVijay #THALAPATHYBday #VijayTheFaceOfKollywood

#WWDC20 #COVID19

[qndheeraj]

 The Bombay High Court noted that "the deceit and fraud is camouflaged under the banner of e-marketing and business" while rejecting the anticipatory bail requests of five suspects in the multi-crore QNET scam.