Saturday, May 15, 2021
HomeCity NewsPolice opposes former billiards champion Ferreira’s bail plea

Police opposes former billiards champion Ferreira’s bail plea

The Mumbai police’s Economic Offences Wing (EOW) objected to an anticipatory pre-arrest bail plea filed by former world billiards champion Michael Ferreira in connection with the Rs. 425-crore QNet case.

On January 22 the court had directed Ferreira to appear before the investigation agency, which he had complied with and was grilled for four days by EOW sleuths.

“We filed our reply in the case and objected to his pre-arrest bail application,” said special public prosecutor Pradeep Gharat.

The court was told that Ferreira was associated with Qnet even after knowing that it was a scam, he said.

“We also told the court that Ferreira made crores of rupees from the scam,” Gharat said.

So far, the EOW has arrested nine QNet team leaders 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 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.

Most Popular

- Advertisment -