Qnet ltd., Multi-level marketing company

New Delhi, March 29 The Enforcement Directorate (ED) on Wednesday said it has frozen Rs 137 crore detected following search operations at seven locations (four in Hyderabad and three in Bengaluru) in connection with a money laundering case, an official said.The case was lodged against Vihaan Direct Selling (I) Private Limited, a sub franchisee company of Qnet Ltd.The ED initiated an investigation under the PMLA on the basis of 38 FIRs against Qnet Ltd, Vihaan Direct Selling (I) Pvt. Ltd. and others registered by Cyberabad Police, Hyderabad under various Sections of IPC and Prize Chits and Money Circulation Schemes (Banning) Act.The ED said it has learnt that Vihaan Direct Selling (I) Pvt. Ltd had been cheating gullible people, promising huge commissions on their investment, by way of running money circulation scheme in the guise of direct selling of products.As a result of search, various incriminating documents and digital devices were seized."Further, an amount of more than Rs 137 crore available in more than 50 bank accounts relating to various entities/ individuals connected with the case has been frozen/seized during the search operations," the official said.atk/pghDisclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Qnet Ltd.FOLLOW

Qnet ltd., Latest News

National :ED freezes Rs 137cr in money laundering case

New Delhi, March 29 The Enforcement Directorate (ED) on Wednesday said it has frozen Rs 137 crore ... ...