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Former world billiards champion Michael Joseph Ferreira, who was arrested in an economic offence case in Mumbai, has been brought to Hyderabad for investigation in a multi level marketing scam.
The 78-year-old Ferreira, Malcolm Nozer Desai, Magarlal V Balaji and Srinivas Rao Vankka, were brought to Hyderabad on a prisoners' transit warrant from Mumbai, according to Deputy Commissioner of Police, Detective Department, Hyderabad City, Telangana.
This follows a complaint lodged by an HSBC employee Suman Ghosh at the Central Crime Station alleging Ferreira and his friends Gaurav Sanchet, Amit Sethia and others lured him to invest in a multi level marketing company. After investing in the company, he then realised that it was not possible to make money as claimed by them.
Following this complaint, a case was registered for criminal breach of trust (section 406 of IPC) and cheating (section 420 of IPC) and provisions of Chits and Money Circulation Schemes (Banning) Act.
A team from Hyderabad brought the accused from Mumbai and presented before a local court. The accused were earlier arrested by the Economic Offences Wing.
The accused moved the Hyderabad High Court which stayed further investigation.
The central crime station had been probing a multi-level marketing scam which involved Q-net and its Indian subsidiary Vihaan Direct Selling India.
A number of cases have been registered against Q-net in several other states.
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