Rs 425-cr QNet scam: Police issue lookout notice for Michael Ferreira

Mumbai: The Mumbai Police have issued a lookout notice for former world billiards champion Michael Ferreira in connection with the Rs 425-crore scam allegedly committed by multi-level marketing firm QNet on Thursday. Ferreira had earlier said he would appear before the investigators as soon as he returns to India. He even defended the controversial company. The Padma Bhushan awardee said “three to four days ago, the summons were received at my home (in Mumbai) in my absence. I am abroad now. The summons were handled by my lawyer and I understand he is co-operating fully.” [caption id=“attachment_1319549” align=“alignleft” width=“380”]  File photo of Ferreira. AFP[/caption] Responding a query, he said “of course, I shall make myself available (before the Economic Offences Wing of the Mumbai police). I have the highest regard and respect for the police. As soon as I am cleared to travel, I will appear before the EOW. I am undergoing a lot of stress at the moment.” The winner of the World Amateur Billiards Championship described the allegations as “outrageous, malicious and untruthful”. “The company has a book of goods and service which offers to customers. Then where is the question of anyone defrauding anyone, leave alone me? How I defrauded anyone. Customers, who are interested in the products, can buy. If not, then no need to buy. I have not approached anyone and forced anyone.” Explaining his association with QNet, Ferreira said “a good friend of mine from Hong Kong told me about the online company (which) wanted to open a franchise complying with local laws in India for the purpose of goods and service (it offers). “They asked me to be a shareholder and I said yes. I saw it as a great business opportunity. I have no operational responsibility for setting up the company and I am just a shareholder.” With inputs from PTI