Hyderabad Police arrested former world Billiards champion Michael Ferreira and three others, in a mutli-crore illegal marketing scheme, as per media reports. The arrest came two weeks after the Padma Bhushan awardee surrendered before a Mumbai court. Ferreira and three others were directors of Vihaan Direct Selling India (Pvt) Ltd, a firm accused of running and operating an illegal money circulation scheme under the name of QNET.
Officials said as many as 500,000 investors across India were duped by the promoters, who attracted investment from people by promising them huge commissions to enroll new investors into the firm, or offered them fraudulent investment schemes. Others caught are Malcolm Desai, owner of Vihaan, Srinivas Rao Vanka, and Magaral Veervalli Balaji, directors of Vihaan, and Suresh Thimri, director of Transview Enterprises India Pvt Ltd.
