 "Amway India CEO, MD arrested in Kerala for financial fraud")
The Kerala Crime Branch has arrested Amway India Managing Director and CEO William Scott Pinckney and two other directors of the network marketing company, said a report on mathrubhumi.com. Amway has been accused of selling low- priced products at inflated prices.
The arrests have been made in relation to two cases of fraud registered against the Pinckney in Wayanad district of Kerala, the report said. He was in Kerala to secure anticipatory bail in these cases. He has already got a bail in another case registered against him in Kozhikode district.
According to a report in India Today, Pinckney, Sanjay Malhotra and Anshu Budhraja were questioned earlier this month and asked to report to the police on Monday, when they were again interrogated by the Economic Offences Wing and later arrested by the Wayanad police.
Earlier, the Crime Branch had seized products worth Rs 2.5 crore from various go-downs across the state and arrested the Kerala chief of the company.
[caption id=“attachment_819475” align=“alignright” width=“380”]  Image used for representative purpose only.[/caption]
After this arrest, the crime branch had decided to probe Amway’s insurance business, an earlier Mathrubhumi report said.
There were complaints that Amway had supplied new products to distributors at high price. Lakhs of rupees thus collected was invested in the insurance business, the report said.
Impact Shorts
More ShortsA probe into the multilevel marketing firm found that products that were Rs 37 was sold to consumers for Rs 395 as MRP.
The investigation was conducted after Vishalakshi from Kozhikode complained that she lost Rs 3 lakh on selling Amway products.
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