Wednesday, 21 September 2016

Ferreira rejected bail in QNet scam

New Delhi: Padma Bhushan Michael Ferreira, former world Billiards champion is all set to be arrested after the Supreme Court on Wednesday rejected Anticipatory Bail applications of all prime accused in the QNet scam.
The Supreme Court rejected the bail applications of five including, Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Directselling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises India Pvt Ltd, Malcolm Nozer Desai, who is a 20 per cent stakeholder in Vihaan and Michael Joseph Ferreira, former world champion of billiards and an 80 per cent stakeholder in Vihaan.
Earlier the Bombay High Court had rejected the anticipatory bail applications of all the accused calling the whole business of QNet as “prima facie illegal business”.
The order mentioned, "The motto of the company 'sell more, earn more' appears very attractive and innocuous. However, this motto is fully camouflaged. The company stands on a basic statement that people can be fooled. Thus, the true motto is 'sell more earn more' by fooling people. In fact it is a chain where a person is fooled and then he is trained to fool others to earn money. For that purpose, workshops are conducted where study and business material is provided with a jugglery of words, promises and dreams. Thus, the deceit and fraud is camouflaged under the name of e-¬marketing and business."
"It has very grave and serious impact on the economic status and mental health of the people on a large scale. On considering parameters of the Section 438 of the Code of Criminal Procedure, I am not inclined to protect the accused. It won't be out of place to mention that such circulation is required to be stopped. It is necessary for the prosecution to take injunctive steps against this business activity, which is prima facie, illegal.”
“The Serious Frauds Investigation Office had termed the whole business of the QI Group in India as a threat to the national security,” said the whistle blower, Gurupreet Anand, who submitted the SFIO report in Bombay High Court as well as the Supreme Court of India along with other documents.
A detailed Status Report was filed by Special Public Prosecutor Pradeep Gharat and after going through the contents of the said report the anticipatory bail applications of all the prime accused was forthwith rejected. Agencies


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