Hyderabad: The Economic Offences Wing (EOW) of the Central Crime Station (CCS), Hyderabad Police, has arrested five alleged QNET representatives in connection with a suspected pyramid scheme and money circulation fraud involving ₹7.5 lakh. The accused were apprehended during a raid at a resort in Candolim, Goa, where they had reportedly gathered for a company event. Police also seized three luxury vehicles and multiple electronic devices containing digital evidence during the operation.
The arrested individuals have been identified as Mohammed Fawaz, Aswin Suresh, Vinu Johnson D’Cruz, Manoj Ravindran Nair Subbalakshmi, and Varikottuchalil Sivarajan Balraj, all residents of Kerala. They were produced before a court in Goa, which granted a transit warrant for their transfer to Hyderabad for further investigation.
According to police, the case was registered following a complaint filed by Sardar Sharanpal Singh. The complainant alleged that he came into contact with the accused through Instagram while searching for gym space in Hyderabad and Bengaluru. He was subsequently invited to Bengaluru with the promise of a lucrative business opportunity.
During the meetings, the complainant was allegedly introduced to QNET as a legitimate luxury products business. Police claim the accused persuaded him to invest ₹7.5 lakh through presentations, success stories, and promises of substantial financial returns. He was initially asked to transfer ₹30,000 as a booking amount.
The complainant later conducted his own research into the company and its business model. After reportedly finding information linking QNET to alleged pyramid and money circulation schemes, he approached the police. He also alleged that the accused avoided written communication, insisting instead on phone calls and online meetings, while asking him to keep the proposal confidential.
During the investigation, Hyderabad Police received information that several QNET representatives would be attending an event in Goa. A special EOW team travelled to the state and conducted a raid at the resort in Candolim. According to police, some suspects allegedly attempted to flee after noticing the officers but were apprehended.
Preliminary findings suggest that the accused allegedly recruited individuals through social media platforms, face-to-face meetings, and online sessions by promising high monthly earnings. They also allegedly encouraged participants to recruit additional members in return for further financial incentives. Investigators are now examining the scale of the network and the total amount of money allegedly collected through the scheme.
During the searches, police seized a Toyota Fortuner, an MG Hector, and a Kia vehicle, along with five mobile phones. The devices reportedly contain WhatsApp chats, Instagram conversations, emails, and financial transaction records. Investigators are conducting a forensic analysis of the digital evidence to identify other members of the network and any additional victims.
Police said the investigation is continuing and that the seized digital records will be examined to determine the involvement of other individuals connected to the alleged scheme. Authorities have also advised the public to exercise caution before investing in business opportunities promoted through social media or schemes promising unusually high financial returns, and to verify the legitimacy of such offers before making any investment.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
