Police Arrest 487 People Linked To QNET Ponzi Scheme In Kumasi
- Police in Kumasi have arrested 487 people linked to a Ponzi scheme following an intelligence-driven operation
- The arrests were made at a residence in Adwuman, near Kenyasi, a suburb of Kumasi in the Ashanti Region
- During the operation, registration documents and other materials bearing QNET logos were reportedly seized
Police in Kumasi have arrested 487 individuals linked to a Ponzi scheme following an intelligence-led operation on September 2, 2024.
The suspects, comprising 257 women and 230 men, were apprehended at a residence in Adwuman, near Kenyasi, a suburb of Kumasi.
Source: Facebook
The police, in a statement, said preliminary investigations had revealed that the suspects lured victims from various parts of the country with promises of lucrative returns.
During the operation, authorities seized registration documents and other materials bearing QNET logos. 12 of the arrested individuals have been identified as scheme executives.
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The 12 individuals are Gyereh Evelyn, Francis Kpesah, Samuel Musah, Simon Yakubu, Thomas Kotual, Kwasi Nyabi, Benjamin Nsigma, Elijah Musah, Moses Katu, John Balabon Tagnakibi, James Nogma, and Fidelis Bang-ib.
These individuals are currently in police custody pending further investigations.
The police have urged the public to remain vigilant against such schemes and to report any suspicious activities to law enforcement.
Is QNET legal?
QNET has legitimacy as a Hong Kong-based network marketing company that claims to be a direct-selling firm dedicated to helping people live healthier lives.
The company's products include energy, weight management, nutrition, personal care, home care, and fashion accessories.
QNET works legitimately in some countries, but in others, such as India, it has been accused of being a Ponzi scheme and multi-level marketing (MLM). After a demonstration erupted in Bangalore, the Indian government banned the site from operating.
QNET has been prohibited in several other countries, including Saudi Arabia, Rwanda, Canada, and Turkey.
Its operations are typically franchised to local businesses, allowing the main office to profit while absolving it of duty and obligation in regional and national fraud prosecutions.
State withdraws case against NAM1 again
YEN.com.gh also reported that the state has again withdrawn the case against Nana Appiah Mensah, the CEO of defunct Menzgold Ghana Limited.
New charges were filed against the man known as NAM1 on November 17, 2023, amid claims his company ran a Ponzi scheme to defraud customers.
He was accused of defrauding over 16,000, with Menzgold suspending operations after an order from the Securities and Exchange Commission.
Proofread by Bruce Douglas, senior copy editor at YEN.com.gh
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Source: YEN.com.gh
