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Former Billiard Champion Michael Ferreira in yet another scam

Mumbai: After QNet scam, former Billiards Champion Michael Ferreira now finds himself in land scam. An FIR in this regard has been filed with charkop police station in Mumbai. Two persons, named in the FIR
India TV Sports Desk January 05, 2014 6:19 IST
India TV Sports Desk
Mumbai: After QNet scam, former Billiards Champion Michael Ferreira now finds himself in land scam. An FIR in this regard has been filed with charkop police station in Mumbai.

Two persons, named in the FIR along with Ferreira, have been arrested and would be produced in Borivali court.

Earlier the winner of the World Amateur Billiards Championship had also been accused of defrauding people through QNet, a multi-level marketing firm QNet, in which he claimes to hold shares.

The Economic Offences Wing (EOW) of the city police has arrested nine team leaders of the QNet so far for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices. QNet has also been accused of using the banned binary pyramid business model for their multi-level marketing (MLM) schemes to entice investors.

The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.

On Thursday Mumbai Police issued a lookout notice against  Michael Ferreira after he failed to appear before them in connection with the Rs 425-crore scam allegedly committed by a multi-level marketing firm QNet.

Ferreira has said he would appear before the investigators as soon as he returns to India. He had also defended the controversial company and described as "outrageous, malicious and untruthful" the allegations against him of defrauding people through QNet.