Indian Collapse

Sri Lanka's state minister of defence Ruwan Wijewardene (L) takes part in a press conference in Colombo on April 24, 2019. - A Sri Lankan security dragnet hunting those responsible for horrifying bombings that claimed more than 350 lives has scooped up a further 18 suspects, police said April 24, as pressure mounted on politicians to explain why no one acted on intelligence warnings. (Photo by ISHARA S. KODIKARA / AFP) (Photo credit should read ISHARA S. KODIKARA/AFP/Getty Images)

March 3, 2008 (LBO) – India is deploying crack sleuths to track down the operators of a Goldquest-Questnet scheme in the Karnataka state after thousands of victims complained to the police, media reports said. “Initial investigations into the fraud committed by Quest-Net India Limited has revealed the firm had duped people to the tune of several hundred crores (hundreds of thousands of rupees) across the country,” the Deccan Herald said.

“Interestingly, the directors of this Chennai-based company, including MD Pushpam Appal Naidu, are now ˜out of the country’.

“Police have no information about their whereabouts.”

Last month agency reports out of Kabul said the Afghan government had banned the scheme.

The Deccan Herald said city police would hand over the case to the Corps of Detectives, a state-wide investigations authority.

The number of victims in Bangalore has increased from 800 to 2,500 in just a week.

Reports indicate that the scheme had been previously banned or collapsed in Nepal, Bhutan, Sri Lanka, Iran, Philippines and the UAE.

However after a few years, when the furore dies down, it crops up again. The scheme uses a multilevel or referral syst