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He subsequently worked in the Philippines in a multi level marketing company prior to setting up his own MLM company which he called QNet. Since it was first introduced inQnet doing business at the time as Questnet promoted gold and silver coins with an MLM system.
But the coin collection business was touted as a money game and declared illegal in some countries. Though registered in Hong Kong, the company has never actually carried out operations in Hong Kong or China, and its majority customer base remains in India and a few African countries.
A few years later Questnet came up with a new name, Qnet and offered various other products via the MLM system. Other websites like portal.
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|Qnet - Wikipedia||April 25, at The funding would be used to expand the distribution network and continue brand development in key markets.|
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The company and its franchise Vihaan are also being investigated in India. They were facing charges of cheating and forgery  The court observed that "the deceit and fraud is camouflaged under the name of e-marketing and business". The company, first known as GoldQuest and QuestNet, made custom-commissioned commemorative coins and later began selling jewelry and watches.
Mayer's Mint, a German-based mint coin facility. QNet started to diversify its products in into travel and vacations by partnering with QVI Club brand holidays.
The blue individual will receive compensation from the sales of the downline red members. The company employs a multi-level marketing model whereby a group of independent representatives refer its products to consumers and receive compensation based on the sales volume of their referrals and the sales volume of other independent representatives in their teams who are arranged in a binary fashion.
In a complex addition, when an IR introduces a new customer, who then becomes an IR themselves and promotes products, the original IR can benefit from the success of their recruit.
But these bonus points can only build up one leg of the original IR, who must then find recruits for the other leg in order to receive commissions. As per official spokesperson, even though there are no sign-up fees, a purchase might be required.
This may be in the form of the sale of a qualifying product to a retail customer or by the new representative making a qualifying purchase to validate a Tracking Centre or a slot in the computer system of Qnet.
To do this, and to address charges against it, the company has often changed its name and sprouted a myriad of companies such as "Vihaan" under its umbrella. Initially the company sold gold commemorative coins under the names GoldQuest and QuestNet.
According to Quest Net's no guarantee advertisement, the disc creates a 'water-impacting' energy field that 'helps to reduce stress, improve sleep'. It is said to be a product of Germany, invented by 'Dr Ian Lyons' but his antecedents and research publication is not known. Schott AG is the only industrial glass manufacturer that certifies production of Biodisc but does not confirm Qnet's advertising effects as 'creating an impact energy field'.
The President of the Madras Coin Society warned that the Goldquest coin was neither a period coin nor it was from an authorized body. Inthe Australian Office of Consumer and Business Affairs listed the company as one of 61 alleged pyramid schemes. In Philippinesthe Department of Trade and Industry issued a cease and desist order for engaging in retailing despite being a wholly foreign owned company.
They also received a complaint from a member. The Managing Director of Questnet, Richard Zinkiewicz, insisted that Questnet was not a pyramid scheme, because customers were never obligated to sell products and the product had real value. He said that the value of the coins lay not just in the raw material but because they are limited edition collectibles which may appreciate in value or even double in six years.
Vijay Eswaran the founder of QI group told the audience that the opportunities offered by QI could change their lives. The scheme depends on bringing an exponentially growing number of new members and is likely to collapse after a certain stage, resulting in heavy losses to vast majority of its members.
The business started in Afghanistan with around IRs in and had expanded to 21, when the government temporarily withdrew the license to enable it to write operating laws. Quest Net was described as a non moral pyramid scheme in which 96 percent of the members suffered losses and only 4 percent made profits.
About 20 million dollars were collected from the public. The teams of Directorate of Fighting against Financial Crimes acted on increasing fraud reports. The people arrested were reaching unemployed young people and promised that they will not to talk to anyone except network members.
There is an additional fee for each new member earned from the network starting at USD. Moreover, it is told that the redeemed member will get a share from new members and the sales to be made.
They are asked to sell Chinese goods such as watches, necklaces etc.
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History of the case: Avnish Bajaj is the CEO of lausannecongress2018.com, a customer-to-customer website, which facilitates the online sale of property.
lausannecongress2018.com receives commission from such sales and also generates revenue from advertisements carried on its web pages. BUSINESS PLAN “A Taste of the Islands” EXECUTIVE SUMMARY Company Name: A Taste of the Islands Anytown Key Personnel: Owner Principal, Business Manager General Manager Assistant Manager Brief Description: A Taste of the Islands is a West Indian themed restaurant that will be located in the “A Taste of the Islands.