Enforcement Directorate (ED) which handles money laundering cases and brings out the economic laws in the nation has frozen 36 bank accounts in relation to the QNet Scam. ED issued a press release in which it states the agency conducted searches at various locations in Mumbai, Bengaluru, and Chennai which resulted in the freezing of bank accounts a few months back.
The ED registered an Enforcement Case Registration Report in 2022 under the prevention of Money Laundering Act. After the Secunderabad fire mishap, the ED has taken up a money laundering investigation based on other FIRs filed against the QNet. Today, it issued orders freezing cash balances worth Rs. 137 Crores of the firm.
Cyberabad Police who have taken up the initial investigation have alleged that the company is involved in many ponzi scams and binary schemes. Owned by the QI group, Vihaan is a multi-level marketing company.
