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Amway’s India Chairman & CEO Along with Managing Director Arrested

Amway’s India Chairman and CEO William S. Pinckney (right), Managing Director of Amway India, Anshu Budhraja were arrested
Written by Ak Sharma
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Amway’s India Chairman and CEO William S. Pinckney (right), Managing Director of Amway India, Anshu Budhraja were arrested on Monday by the The Crime Branch-Crime Investigation Department (Economic Offences Wing) along with two supervisors of the Amway company on their alleged role in facilitating  financial abnormalities.

Though a local court on Tuesday granted conditional bail to Multi Level Marketing company Amway’s India Chairman and CEO William S Pinckney and two company Directors who were remanded to 14 days judicial custody.

A team of officials, led by Superintendent of Police P. A. Valsan jailed Mr. Pinckney, a UNITED STATE resident, and Amway India directors Sanjay Malhotra and Anshu Budhraja in connection with a fraud cases registered in Wayanad district.

All of them were booked under the Prize Chits and Money Circulation Schemes (Banning) Act

All the implicated had obtained anticipatory bail from the Kerala High Court in an earlier situation registered on a problem claimed by K. Vishalakshi of Kozhikode. But now they were jailed based on complaints submitted by Jaffer and Ashraf from Rippon and Hariharan from Vaduvanchal, Ambalavayal in 2011, authorities resources claimed.

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They were summoned for questioning in connection with the instances and later on apprehended. Meanwhile, the business, in a news release, stated, “Amway has actually submitted all info and documents that have been asked for by the authorities officials. We are working together with the police for any type of additional examination.”.

During the investigation, the investigation officers come to know that the company was making it mandatory for distributors to purchase Amway products at high rates & this amounted to violation of guidelines in Kerala.

The police are working on leads that lakhs of rupees collected this way have been invested in the insurance business.

 

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