Victims of the QNet ponzi scheme have filed a complaint with authorities after investing Rs 14 lakh (approximately $17,000 USD) in the controversial multi-level marketing operation. The complaint, filed on April 27, 2026, alleges that the scheme promised high returns through recruitment-based commissions but failed to deliver.
QNet, formerly known as GoldQuest, has been under scrutiny in multiple countries, including India, where it was banned in 2014 under the Prize Chits and Money Circulation Schemes (Banning) Act. The company, based in Hong Kong, has faced legal action in several Indian states, with cases registered in Kerala, Tamil Nadu, and Maharashtra.
According to the complainants, they were lured by promises of quick wealth through selling virtual products like e-learning courses and wellness items. However, the scheme primarily relied on recruiting new members, a hallmark of illegal pyramid schemes. The victims are seeking recovery of their funds and legal action against the promoters.
Authorities have urged the public to be cautious of such schemes and report suspicious activities to the Economic Offences Wing. The case highlights ongoing challenges in regulating cross-border financial fraud.
