Twenty-eight QNet scammers have been arrested in Nigeria.

Citing QNet as a Ponzi scheme, Nigeria’s Economic and Financial Crimes Commission (EFCC), arrested the suspects on or around March 10th.

EFCC states it launched an investigation following

credible intelligence that linked [the suspects] to fraudulent investment activities with a company, Q-Net Ltd, which operates from a three bedroom apartment in Al-Bishiri Estate, Minna, Niger State.

EFCC names the arrested suspects as;

Nofisat Opeyemi, Shukurat Muritala, Odunayo Sanni, Mayowa Oyekola, Aishat Olaitan, Edward Hannah, Abioye Fathiah, Joseph Omowunmi, Kareem Ahmed, Arikeusola Afeez, Adiamo Mutholib, Abass Ibrahim, Wasiu Taofeek, Adeniji Damilare, Nurudeen Akinola and Mubarak Yekeen … Adedeji Ayobami, Alani Samuel, Ogundele Yunus, Adekunle Ibrahim, Adewale Azeez, Rufai Faruk, Fawaz Yekeen, Olade Abdullahi, Ahmed Murtala, Adisa Habeebllahi Akorede, Adigun Timilehin and Abdulfatai Ridwannullah.

The EFCC states the suspects will “be charged to court as soon as investigations are concluded.”

QNet is a long-running MLM pyramid scheme operated out of Malaysia by owner Vijay Eswaran (right).

The basic premise is QNet affiliates are recruited and then forced to purchase products to qualify for commissions. Commissions can only be earned by recruiting new victims into the scheme.

Typically even with recruitment, what is spent to qualify each month exceeds earned commissions – inevitably resulting in a loss.

Specific to Nigeria, the EFCC states;

Victims were lured to believe that the company was international with affiliates in Dubai, India, Indonesia and Thailand and made to part with between $790 to $850, amounting to N1,462,000  (One Million, Four Hundred and Sixty-two Thousand) as registration fee and for product purchases.

Part of those arrested while receiving lectures on Ponzi scheme operations, dressed up as “network marketing.”

As of February 2025, SimilarWeb tracked top sources of traffic to QNet’s website as Russia (28%), the UAE (10%), India (9%), Australia (6%) and the US (5%).

Despite arrests and warnings from multiple countries, including India, Cote d’Ivoire, Liberia, Afghanistan, Ghana, Bhutan, Russia, Togo and Sri Lanka, Malaysian authorities continue to turn a blind eye to QNet’s fraud.