From past 2-3 years, lot of my friends have asked about QNet and they want to know in detail. They want to know, whether it is a legitimate business in India or is it a scam. And the people who are asking them to join their QNet group, the minimum capital required to start the business is 1,20,000 INR, where as I have heard that one could start with 30,000 INR as well. On contrary to that, on company’s website, anyone can join for free of cost.
And what I share with them:
QNet is known with many names, such as QNet ltd, or QuestNet or GoldQuest or Qi limited. Over the years they changed their product line with new company names, so that when you search about the company on search engines, then you won’t get much information on previous names but only about QNet.
QNet was first started in 1998 with the name GoldQuest and made numismatic coins, but later changed the name to QNet, when they faced accusation of being a pyramid and a money circulation scheme in India and also at other countries.
Source asiantribune.com http://www.asiantribune.com/news/2010/02/20/multi-crore-gold-quest-scam-case-sc-hearing-february-26
Vijay Eswaran, Qnet’s executive director, has faced arrest for fraud on an Interpol warrant in May 2007. Where later on, he was freed.
QNet product range: ENERGY, NUTRITION, PERSONAL CARE, LUXURY & COLLECTIBLES, ACCESSORIES, HOLIDAYS and EDUCATION.
From time to time, QNet got banned in many counties, such as:
- Afghanistan (2008)
- Rwanda (2009)
- Iran (2005)
- Sri Lanka (2004)
- USA & Canada (2008)
- Syria (2009)
- India (2010, as Gold Quest)
- Saudi Arabia
It is difficult to distinguish between a legal and a fraud company. Unless, MLM law is passed in India, it would be difficult to get the real picture. Same is the case with Qnet. They are already facing legal challenges in India.
For reference, please check the links given below and then decide, if you want to put your hard-earned money with QNet business or not.
- Quest for more gold: gullible public fall prey again
- QNet, the MLM has resurfaced in India; will people be duped again?
- Gold Quest to face more cases
- QNet is Banned/Shutdown in Many Countries
- Wikipedia: Qnet
- Asian Tribune: Multi-crore Gold Quest scam case SC hearin