CHENNAI: For the third consecutive day on Tuesday, people came in large numbers to the office of the Commissioner of Police in Egmore and lodged criminal complaints against the Gold Quest and its directors.
Additional police personnel were deployed at the entrance of the Commissionerate to regulate the crowd.Thorough examination Commissioner of Police G. Nanchil Kumaran told The Hindu that the police would thoroughly examine all petitions and take stern action against the accused, if they were found to have cheated the public.
So far, they had received about 900 complaints, the Commissioner said.
Last week, the police had sealed the company’s premises near the Chetpet police station.
Agents and some staff of the company who had information about the functioning of the company are being investigated.
When will we ever learn that making money is not easy? One cannot make hard money by quick means and expect it to be legal too.
Don’t we all see this bare truth around us: among our friends, our colleagues, those who work in high or low positions and even in business? Unless of course he gets a lottery.
The recent scam.. or the age old scam is the “Gold Quest” or re-christened Quest International (QI) pyramid style chain business.
Even me and hubby were approached as early as 1998 to take part in this scheme and kept on receiving further invitations’. One of Hubby’s friend and colleague came home and gave a presentation stating the merits of the scheme. The bottom line was making extra bucks during the free time. All one had to do was give around 175 KD (almost 30,000 IRS), whereby one gets either a “unique” wrist watch or a NUMISMATIC gold coin and then lure others to join the scheme. If your “Left” and “Right” prospers so do you! But Hubby was dead against such schemes, reminding me of the various schemes that had left many cheated and few rich. Thankfully I was too busy trying to bring up the little ones to bother about the "left" and "right". I did wonder how this scheme can work since the purchase is made only once and there was no other means of income. People who lose money in scams like Goldquest are encouraged to blame themselves for that. They are told that they did not work hard enough. And they have a disclaimer at their website that beats them all..
And upon reading more about “Gold Quest”, I came to know that this company was already facing ban from Nepal as early as 2003 and in Srilanka, Philipines and Iran in year 2004-7 And there were arrests in Chennai in year 2003 where the company’s Indian head quarters is located. They say Mrs. Chidambaram was appointed as the legal advisor to this company. I think people still refuses to believe that the company is cheating since many high ranking politicians and cine stars are its patron. The company has also ventured into other business using the money collected from millions.
Here in Kuwait many of my ex-colleagues and friends are a part of this scheme. One left his job and started an office in India to continue the business. I am not sure how many of them made money and I am not even sure if they are all aware that this company is cheating. Our neighbour is still busy recruiting fresh candidates from company camps. These unsuspecting candidates must have given all what they saved from their meagre salary. I am sure some have made money on the expense of others.
GoldQuest International – 2000
About Us
• GoldQuest is a company retailing gold products.
• GoldQuest finds its customers through word-of-mouth advertising otherwise known as interactive marketing.
• GoldQuest pays commissions to its customers for introducing other customers, who purchase products from GoldQuest..
• GoldQuest utilizes the strength of the best network structure available today for the distribution of its commissions.
Company Background
GoldQuest International Ltd. was formed by diverse but formidable entities: an investment group from the EU and Asean as well as an Asian team of industry leaders with extensive networking experience called the V-TEAM. This powerful fusion of corporate and networking expertise has laid a strong foundation for the stable existence of the company that is dedicated to building opportunities not just for itself but for all of its customers.
GoldQuest is led by the honorable corporate chairman, Mr. Aulis Juhana Makitalo, who worked for many years with internationally respected agencies such as the United Nations Development Fund and the Asian Development Bank. Assisting him are various international directors whose special fields of expertise propel the company into a new millennium of dynamic expansion and growth.
http://bahrainidrivel.com/?p=195
http://questnet.homebusinesspros.com/
http://www.mouthshut.com/comment/readcomment.php?rid=54567&r=1&com=0
And to top it Dato’ Vijay was invited by the Indian government to speak at Pravasi Bharatiya Diwas.. now we just have to wait for the government to give him a Padma Shri
Rightly said Happy. There is no easy way, to make, easy money. Its either fake or illegal.
ReplyDeleteLike you n hubby, even I was approached by many, including very close friends. But I jus dint buy it (the scheme) plus dint wanted to spend some hard earned money, on sumthing tat dint garantee return.
The sales gimmick n presentation were fantastically orchestrated n even graphically explained, which made people fall into the scam.
Yes, I'm sure many would hav made money but at the same time, many more, would have lost it also.
But wat to do? We humans will never learn from such things n we yearn for more n easy way to make money.
Dont think we'll hav to wait long, to see another sparkling enticing scam, pop its head, jus like the 'jack-in-the-box'.
You've aptly bristled on a burning issue..!!! On one hand the Govt. must come down heavily on these cheaters... and on the other, people should become wiser (day-by-day :-)))
ReplyDeleteCan only console people with the H.G.Wells quote-of-the-day in your blog - If you fell down yesterday, stand up today..!!!!
@jboy ah..even u dint fall for it? :)
ReplyDelete@kat Thanks for passing by and leaving an apt comment.
KAT AND KIT BROTHERS IN ARMS HUH?ANYWAY GUD TO SEE THAT UR UP TO STIRRING SOMETHINGWORTHWHILE,,,HEY U BLOCKED MY BLOGS ON UR LASH AT PASTOR THANGU..DID U SEE THE NEWS??STILL TIME FOR U TO ASK FOR FORGIVENESS FROM THE LORD FOR PAINTING A BAD PICTURE ABOUT HIS APOSTLES
ReplyDeleteKAT AND KIT WHY DONT U TALK OVER PHONE OR IS IT A SPLIT PERSONALITY
ReplyDeleteQnet is back again. Its QI in a new avatar. The business model is the same. The only way to make money is to recruit more people to the “business”. The idea remains the same. You recruit people, you get a cut out of what they pay. When those you recruit, recruit others, you get a cut out of what they pay too. Thus it becomes a pyramid chain on top of which you sit. Of course, you, yourself are a part of a bigger pyramid on top of which Chiddu’s wife might be sitting. The only way to recover your initial investment is by recruiting at least 10 people yourself. Now to convince 10 people to invest that kind of money, you need to speak to at least a 100 (assuming 10% bite) people. Now, if you are a normal person, it is unlikely that you can talk to a 100 people unless they are friends, family, colleagues. Imagine pestering all the people you know well and who possibly care about you to invest in this get-rick-quick scheme.
ReplyDeleteAs time goes by and there is a lot of negative publicity surrounding Qnet, it becomes harder and harder to recruit “partners” to the business. You call up old friends, classmates, anyone doing a business, any one looking to earn that extra something. You need to invest a lot of time and money to recruit more people. The more time and money you invest, the more the number of people you need to recruit to break-even.
Eventually, the only people who really make a lot of money are the original founders of the pyramid scheme and everybody else simply works to make them more money.
Doing business is definitely not bad. May people pursue some business or the other in their spare time, maybe delivering dabbas to bachelors in the neihborhood or making crafty diya's during Diwali. Doing business full time is also a great idea. But if a business only needs to you to keep recruiting people again and again and again, then something is wrong. It just doesn't feel like a legitimate business.