Submitted by alvin on Wed, 2016-03-16 09:10 Bengaluru: Six persons who were trying to lure people into investing in an illegal business venture popularly known pyramid or chain-link business operated by a firm known as QNet India were arrested by the Central Crime Branch (CCB) police on Sunday. The arrests took place when the accused were holding a business meeting with more than 1100 people in a marriage hall at Byappanahalli in East Bengaluru. The accused have been identified as Avinash Shaw, 32, a charted accountant and his associates Nikunj Kumar Javad, 29, and Ankit Khandelva, 34, all three residents of Kolkata and Amit Soni, 34, Ashok Sharma, 33, and Rakesh Makarlal Kinger, 33, all three residents of Mumbai. Police said the accused were team leaders of QNet – a Honk Kong-based company whose pyramid model of business, also known as chain-link or multi-level marketing fraud, had become quite popular in many countries. Alarmed at its rapid growth, many nations banned the business model. The raid was conducted on Vijayakrishna convention centre in Kaggadasapura near Byappanahalli based on the information that QNet was organising a business meeting to lure public to invest money in their firm for a hefty commission, said KN Jitendranath, Deputy Commissioner of Police (Crime). The police team reached the venue posing as interested members of public and waited to explain their business module. Later, the police arrested six individuals. “There were 1,100 people in the meeting and the accused persons offered four type of schemes to invest money in their firm. The members of firm have to bring at least two persons to join the firm. In return, they will be offered 10�o 30�ncentives on their investment and it will continue like a pyramid or chain link,” said an officer from the CCB. Police also said that the QNet firm had collected Rs2,500 as entry fee to participate in the meeting. “The accused collected Rs27.5 lakh as entry fee from 1100 participants and they gave a wristband to allow them into the meeting,” a police official said. Police officials suspect that QNet might have cheated many people in Bengaluru. Five laptops, a pen drive, four mobile phones, two cars, including a BMW, and other items were seized from the accused persons.