QNet pyramid scheme fraud warning from Bhutan
QNet has received a pyramid scheme fraud warning from Bhutan.
As per the Office of Consumer Protection’s August 26th warning;
QNET, a scheme that is operated in Bhutan by Vihaan Direct Selling Pvt. Ltd, India is a pyramid promotional scheme.
This scheme emphasizes on continuous recruitment of new downline members through misleading information and the commissions that are paid out are based on the recruitment of members rather than on actual sale of products.
Furthermore, apart from some questionable products offered online, there are no substantive products offered within Bhutan.
Such schemes are unsustainable and will eventually collapse, after which members will not receive the promised payouts or even be able to recoup their investments.
This is in line with BehindMLM’s QNet review, published December 2017.
As per Bhutanese law, pyramid schemes like QNet are illegal.
The Office of Consumer Protection directs all existing promoters and members of QNET to immediately discontinue promotion of the scheme and recruitment of the downline members.
The general public is also advised to refrain from participating in this scheme.
This is the second time Bhutanese authorities have taken action against QNet.
Back in 2003 the Royal Monetary Authority of Bhutan found GoldQuest, QNet’s predecessor, was also a pyramid scheme.
QNet is run out of Malaysia by Vijay Eswaran (right). Eswaran masks QNet’s operations through shell companies incorporated in Hong Kong.
Outside of Bhutan, regulatory action against QNet has been taken in India, Cote d’Ivoire and Afghanistan.
QNet is also tied to the disturbing practice of hostage recruitment across Africa.
Hostage recruitment sees QNet promoters kidnap victims and force them to recruit new QNet affiliates. The practice is closely tied to immigration fraud and human trafficking.
QNet hostage recruitment has primarily been an issue in Ghana and Liberia.
Local authorities in Ghana have tackled QNet hostage recruitment for years. QNet has the backing of the local government though, making regulation of the pyramid scheme difficult.
This has resulted in Ghanaian locals taking the law into their own hands.
SimilarWeb currently tracks top sources of traffic to QNet’s website as India (25%), Vietnam (14%), Turkey (13%) and Australia (9%).
Despite QNet scamming consumers for decades, authorities in south-east Asia have failed to take action against Eswaran.
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