The Bombay High Court has rejected the anticipatory bail plea of world billiards champion Michael Ferreira and four others who are facing charges of money laundering in the multi-crore QNet case.
Their plea was rejected on May 6 by Justice Mridula Bhatkar who took on record the statement of public prosecutor Pradeep Gharat that investigations were still on.
Mr Gharat opposed their plea on the ground that they had allegedly committed economic offences against the nation and indulged in money laundering running into crores of rupees by sending money out of India.
Ferreira had started operations of QNet, a multi-level marketing company, in India via his firm, Vihaan Enteprises. The QNet cheating case began with a complaint by Gurpreet Singh Anand, who raised his voice after losing Rs 30,000.
According to the police, the money involved has crossed Rs 1,000 crore in the alleged scam with more than five lakh investors allegedly losing their money in the case against QNet, which is being probed by the Economic Offences Wing. — PTI
The case began with a complaint
by Gurpreet Singh Anand, who lost
Rs 30,000
