GOLDQUEST INDIA PDF

He subsequently worked in the Philippines in a multi level marketing company. It made custom-commissioned commemorative coins and later began selling jewellery and watches. Qnet started to diversify its products in into travel and vacations by partnering with QVI Club brand holidays. Since it opened in , Qnet Questnet at the time promoted gold and silver coins. The coin collection business was outlawed in some countries. Though registered in Hong Kong, the company has never operated there or in China.

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He subsequently worked in the Philippines in a multi level marketing company. It made custom-commissioned commemorative coins and later began selling jewellery and watches.

Qnet started to diversify its products in into travel and vacations by partnering with QVI Club brand holidays. Since it opened in , Qnet Questnet at the time promoted gold and silver coins. The coin collection business was outlawed in some countries. Though registered in Hong Kong, the company has never operated there or in China. Its majority customer base remains in India and a few African countries.

A few years later Questnet changed its name to Qnet and offered additional products via the MLM system. Other websites like portal.

Singapore and Turkey. The company and its franchise Vihaan are under investigation in India. They were facing charges of cheating and forgery [45] The court observed that "the deceit and fraud is camouflaged under the name of e-marketing and business". 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 on their teams.

When an IR introduces a new customer who then becomes an IR themselves, the original IR benefits by receiving bonus points from the success of their recruit. The IR must then find recruits for the other leg in order to receive commissions. 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.

Initially the company sold gold commemorative coins. The company claims that it was invented by Dr Ian Lyons, but his antecedents and research publication are not known. The President of the Madras Coin Society warned that the Goldquest coin was neither a period coin nor it was from an authorized body. In , the Australian Office of Consumer and Business Affairs listed the company as one of 61 alleged pyramid schemes.

In Philippines , the Department of Trade and Industry issued a cease and desist order after a complaint from a member. Managing Director, Richard Zinkiewicz, insisted that Questnet was not a pyramid scheme, because customers were never obligated to sell products and the product had real value.

The business launched with around IRs in and had expanded to 21, when the government temporarily withdrew the license to enable it to write operating laws. Police subsequently charged 42 of them with gaining an unfair advantage. About 20 million dollars were collected from the public.

They were accused of contacting unemployed young people. Members sold Chinese goods such as watches, necklaces. About thousand pounds of cash were reported to have been seized. They continued operating as Qnet after QuestNet was suspended. An investigation was initiated against Eswaran. Goldquest had been banned in During the prior two years she doubled the size of her network, selling counterfeit watches and energy bracelets.

Investigations reached Bangalore and Chennai. Losses were estimated to be between Rp 7 million — Rp 10 million per person. This was because the activity involved deceiving people and because the work combined two transactions into one, in that the member must make a purchase and at also agree to find new buyers.

The bank account belonging to a PR firm dealing with Qnet was frozen. Fifteen lakh were seized. Mumbai Police recovered crore by freezing bank accounts. It claimed that recruiting revenues were so large because recruiting rather than selling was the focus. In and , Questnet employees had taken money totaling more than 27 thousand Azerbaijani manat from 16 residents. Project officials were arrested and detained in Ziniare Prison and Correction Center.

They are given products to sell and taught to recruit others. They were replaced by Global Lifestyle Lanka Ltd. The magistrate ordered a public awareness campaign and instructed Gram Sevakas to conduct awareness meetings.

Some IRs received had as much as Rs 1 million. Two of their leaders were questioned by the police. The recruits were asked to pay 3, Ghanaian Cedi. The company was ordered to stop its activities.

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Daijora The members were told that they will get rich once they join the group. They used to brainwash them through seminars. Tips on Online Dating and Matrimony 73 Tips. The Ministry of Commerce and Investment, Saudi Arabia has alerted the public against pyramid marketing companies like Qnet that sell goods at high prices with illusion of profits from sales commission. Read press reports here: He stated that it is a veiled form of pyramid schemeas the income is obtained not through investing in goods, but by attracting new investors and money. That was because after making a purchase, the unlucky customer failed to get other people to join their network.

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