Hyderabad, Oct 19 (PTI): Former world billiards champion Michael Ferreira and three others accused in a case of Rs 400-crore alleged fraud involving the multi-level-marketing company QNet have been taken into custody by Hyderabad Police and brought here from Mumbai. Ferreira is a director of the accused company Vihaan Direct Selling India Pvt Ltd, which is a master franchise of M/s QNet in India. The Mumbai Police's Economic Offences Wing had taken them into custody on September 30 this year in connection with the QNet case. QNet and its franchisee firms allegedly sold products such as magnetic disks with 'healing' properties, herbal medicines and holiday schemes. Special public prosecutor Pradeep Gharat had earlier told the court in Mumbai that Ferreira held 80 per cent shares in a franchisee of Hong Kong-based QNet.

Source: The Telegraph October 19, 2016 08:28 UTC