The,QNet,fraud,had,been,quite, business, insurance The QNet fraud had been quite on the headlines for many days
Date:2021-01-11 The,QNet,fraud,had,been,quite, business
As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise. Franc
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QNet, a Multilevel Marketing Company has been in thebusiness for more than a decade and had been the epitome of marketing. Until acouple of months back when the company was accused of gulping the investmentsof many. The Qnet Fraud had been quite on theheadlines for many days and so was Mr. Vijay Eswaran, the owner of the company forduping the investors. So where did at began and is the scam for real?MLM or Multi Level Marketing is one of the best industriesof the world and there are many companies who have leveraged on multipleproduct selling business. There has been long time belief that MLM companieswere a fraud and did not yield proper results. Many international players likeHerbalife and Amway who have been long in the business have been following thistrend and have made every effort to make the business worthwhile. However thesebusinesses did not guarantee returns by just investing, it was the efforts thatyielded results. There have been many success stories down the years and manybankrupt stories. QNet is a multiple product company that sold everything fromwellness products to luxury watches and jewelries. The concept is that acertain set of Independent Representatives or IR join the company and each ofthese IRs are given an dedicated online store to sell the products of QNet. Theform of business was ideal for the people who needed to earn some extra bucksapart from their work. MLM helps in giving the people a luxurious lifestyle andis considered an ideal form of investment with good returns if handledproperly. Given the amount of sales and the kind of returns they are allotted acertain sum of commission. So the deal however was these IRs would just invest andwere least bothered over maintaining their investments. This in turn led to theloss of millions and them blaming the company. In true sense the company has beendoing good and helped in developing millions of entrepreneurs around theworld. The scam was scripted by a coupleof competitors and IRs who couldnt make out the best in the business. Thesepeople claimed that the company was a sham and did not give the proper resultsand thus declare Qnet Fraud. Their efforts proved right and led to theprobing of the owner of the company Mr. Vijay Eswaran. He was accused of holdingillegal holdings in foreign companies and was arrested in Indonesia. He owned acompanies like Ferntea and Suntex that were considered to hold illegal money ofthe public investments. Goldquest or QNetwas alleged of having developed some branches in various parts of Asia andselling limited edition coins and watches through network marketing. All theseworth $90 million that made fortunes for the company and the company denyingthe allegations.
The,QNet,fraud,had,been,quite,
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