Mumbai: Thane police’s Economic Offences Wing on Tuesday night took custody of former billiards world champion Michael Ferreira from the Hyderabad police in connection with its probe into a cheating complaint by a local resident. The resident had complained that he was duped of his Rs 25 lakh by a private firm, in which Ferreira had stakes.
Former world billiards champion Michael Ferreira, and three others accused, was in the custody of Hyderabad police custody since October 2016 in a case of Rs 400-crore alleged fraud involving the multi-level marketing company Qnet. On Tuesday night Thane police took his remand in the separate case registered on December 16 in Vartak Nagar police station in Thane.
EOW Police officer said, “Vihaan Direct Selling India Pvt Ltd is a master franchise of QNet in India, and Padma Bhushan awardee cum former Billiards Champion, Michael Ferreira, owns 80 per cent shares of this franchise. Other 20 per cent shares own by Malcom N Desai. Magaral Balaji, Srinivas Vanka are also partners in this crime and we have taken them into custody.”
“The complainant mentioned that a Vihaan agent approached him and asked him to invest in his company assuring double returns in a year. But he didn’t mention background of the company and said that it will be known after investment, as it’s a global company and had some norms before investing in it. Agent made complainant to create chain of few more people to invest in the company. The complainant invested almost Rs 25 lakh,” said EOW PI, Poonam Chavhan.
Chavhan further added, “We have got the accused in custody till January 11. We are interrogating them.” The FIR was registered under the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978, IPC 420 and Maharashtra Protection of Interest of Depositors Act. Hyderabad police so far has arrested 19 people in the case.
