Vijayawada : Multi-level marketing racket busted
The gang duped nearly 134 people and collected Rs 1.16 crore from them
By : DC Correspondent
Update: 2015-06-24 06:55 GMT
Vijayawada: City police, on Tuesday, cracked a multi-level marketing racket and arrested four persons, who worked under the aegis of Hong Kong-based Q-Net, for duping over 134 people and collecting Rs 1.16 crore illegally.
The prime accused are Vijay Easwaran, the kingpin, who is accused in several other cases in the country, and Vasudeva Reddy, who launched Vihaan Direct Selling India Pvt. in Mumbai and VR-1 firm in the city, according to commissioner of police A.B. Venkateswara Rao.
In the guise of offering online MBA courses of Switzerland University, discounted foreign trips, herbal products and others, the accused perusaded the gullible people to join the chain. The one on the top of chain gets certain amount of money, every time a new person joined, police said. Other arrested include Y. Babu Reddy, 24, of Guntur, Gouran Desai, 23, of Vijayawada, Dasari Naga Raju, 25, of Guntur, Ch Manikanta, 21, of West Godavari, together started VR-1 in the city, a few months ago and trapped innocent people.
Mr Rao said that greedy people were falling prey to such gangs whose aim is to cheat people. Police seized Rs 15 lakh from the gang and another accused, Ch. Gangadhar, is absconding. At present, he reportedly is in Dubai. Mr Venkateswara Rao said they would seek the help of Interpol in arresting Gangadhar.