“Law abiding citizens”

Bollywood actor Boman Irani strongly refuted claims that he and his son Danesh were involved in the QNet ponzi scheme. With the multi-crore QNet network marketing scam getting murkier by the day and prominent names being revealed in the investigations of the Bombay police’s Economic Offences Wing (EOW), Irani issued a statement on January 8, 2014 that his involvement with the company was merely based on the fact that he had attended a function organized by QNet and had been photographed there.

Boman Irani (left) and son Danesh

The statement further read: "My son had worked as an agent like thousands of others when he had passed out of college, during the period 2007-2008, after which he left for the USA for his MBA. His earnings and residuals for his hard earned efforts as a multilevel marketing agent are all taxed and above board. Even though the individual (Gupreet Singh) has made this complaint, no authority including the EOW has intimated us for any inquiry. Rest assured, me and my family are law abiding citizens of this country.”
QNet has been accused of using the banned binary pyramid business model for its multilevel marketing schemes to entice investors.
In April 2013 Gurpreet Singh complained to the police that the company had cheated his wife of nearly Rs 31,500, after which QNet was under close watch by the police.
The name of Michael Ferreira, former world billiards champion and Padma Bhushan awardee has also cropped up in connection with the scam with the EOW issuing a Look Out Circular against him after he failed to appear before the police despite several summons, DNA reports. Ferreira claims he is undergoing medical treatment in Malaysia and will return for questioning. He denies involvement in any scam.