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The company deceived customers by falsely claiming antique gold coins for sale and sold lower-value ones at a higher price
Hyderabad; 22 Oct 2023 ( Ali Abbas PMI ): The State Crime Investigation Department arrested an accused in the 2008 multi-level marketing scheme involving gold coins. The Special Execution Team of Non-Bailable Warrants has arrested an accused from Satyanarayanapuram, Vijayawada, Andhra Pradesh, who has been absconding since 2017 in connection with the Gold Coin Case.
The accused, Sangisetti Naga Ravi Kumar has been absconding since 2017 and is involved in the Gold Coin Case of M/s Questnet Enterprises India (P) Ltd Company from Satyanarayana Puram, Vijayawada.
In 2008, the Station House Officer of Dornakal received a complaint against Bhukya Kantha Rao, the promoters of Questnet Enterprises India (P) Ltd Company for luring the complainants into the business of multi-level marketing, by false promises. They were made to pay Rs.33,000 for the Gold Coin and Rs.460 for the registration fee, but they did not receive the commission that Bhukya Kantha Rao had falsely promised. Victims attempted to recover their funds from QuestNet Enterprises India Pvt. Ltd (A1) but were unsuccessful.
The company deceived customers by falsely claiming antique gold coins for sale and sold lower-value ones at a higher price. They deceived the public by causing mental torture, brainwashed and forced them to join its scheme through high entrance fees. The SHO, Dornakal registered a case in Cr.No.37/2008 U/s 420, 385 r/w 34 IPC, Sec.4, 5 and 6 r/w 2(c), 3 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and took up investigation. Later, the case was transferred to CID, RO, Warangal for further investigation
Since 2017, Sangisetti Naga Ravi Kumar (A-17) has been evading court proceedings, and a NBW has been issued against him. Telangana CID arrests offender absconding since 2017 in gold coin case The accused was arrested and executed by the Special execution team of Sub-inspector B. Swamy, Head Constable Ch. Venkat, and Manohar Goud from Telangana CID on October 19, 2023. On October 20, 2023, he was brought to Hanamkonda and presented before the Chief Judicial Magistrate Court. Addl. DGP, CID Mahesh M. Bhagwat hailed the Special Team and assured them of appropriate rewards soon. ( Press media of india )
