Overview
- A Hyderabad Economic Offences Wing team raided a company event at a resort in Candolim, Goa and detained suspects in what sources report as either five or six alleged QNET representatives following a July 18 operation.
- Police seized three luxury vehicles, five mobile phones and digital records that investigators say contain chats, emails and transaction data being examined for links to the scheme.
- The case stems from a complaint by Sardar Sharanpal Singh who says he was recruited via Instagram, taken to Bengaluru, and persuaded to invest ₹7.5 lakh after an initial ₹30,000 UPI payment.
- Authorities have registered offences under the Bharatiya Nyaya Sanhita, the Telangana State Protection of Depositors of Financial Establishments Act, the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, and the IT Act and obtained transit remand to move the suspects to Hyderabad.
- Investigators say the network used social media, Zoom sessions, in‑person presentations and a binary recruitment model to expand membership and that efforts are ongoing to trace absconding suspects, identify more victims and follow financial and digital trails.