Hyderabad: The Financial Frauds Victims’ Welfare Association (FFVWA), in connection with the death of six employees of Qnet and Vihaan Direct Selling Pvt Ltd at its office premises in Hyderabad on March 16, filed a complaint with the Joint Director of Registrar of Companies (ROC), Hyderabad, alleging collusion of the companies with ROC employees for money laundering.
The incident took place at the Swapnalok Complex in Secunderabad, where the six employees were trapped on the premises of Vihaan Direct, a sister company of Qnet, when a fire engulfed the building.
The FFVWA, in its complaint, alleged collusion between officials and anti-national forces for money laundering and financing terrorist activities in India through Ponzi schemes set up by Q-Net and its associated shell companies, including Vihaan Direct.
Q-Net, the parent company, is operated by former LTTE core leader Vijay Eshwaran, who has been protecting Zakir Naik, central investigating agencies told Deccan Chronicle. Zakir Naik is wanted by national agencies over alleged links with terrorists.
The complaint highlighted grave concerns of collusion and corruption by officials of ROC, Bengaluru.
“This collusion has allowed the illegal operations of Qnet and Vihaan Direct Selling (India) Pvt Ltd to continue unabated. In the Qnet case, a complaint of corruption against ROC Bangalore officials has been filed with Joint Director ROC Hyderabad,” Gurupreet Singh Anand, secretary of FFVWA, told Deccan Chronicle.
According to the complaint, a copy of which was shared with this reporter, multiple instances of ROC-Bengaluru officials displaying reluctance in initiating proceedings against the company, even after the Swapnalok deaths and a complaint was filed with the TS Directorate of Enforcement (DoE).
Sources in the DoE said that the ED city wing is investigating the case. Officials visited Swapnalok Complex on March 17, collected technical evidence from the office of Qnet and Vihaan Direct, and shared it with the Mumbai NIA office for further investigation.
“These proceedings were deliberately filed with numerous lacunae, favouring the interests of the Ponzi scheme operators and hindering the course of justice,” Gurupreet Singh said.
ED sources said that not only in the city, but the Ponzi scheme has led to deaths in eight other states as well.
“Several individuals, driven to desperation by financial ruin caused by this fraudulent scheme, have resorted to suicide. Additionally, the recent Swapnalok fire incident in Hyderabad claimed the lives of six individuals who were working in an illegal office operated by Vihaan Direct Selling (India) Pvt Ltd,” a source said.
When contacted the Joint Director of ROC, who has jurisdiction over the ROC Bengaluru office, declined to comment on the contents of the complaint and directed to contact another official at the ROC Bengaluru, who subsequently claimed ignorance on the issue.
“During the investigation by the CCS, 150 victims were examined and their collective loss was estimated at Rs 3 crore. Additionally, 35 bank accounts belonging to Vihaan Direct Selling Pvt Ltd and others, containing Rs 54 crore, have been frozen,” C.V. Anand, city police commissioner, said.
