Home Business Amway India chairman, 2 directors arrested on charges of fraud in Kerala

Amway India chairman, 2 directors arrested on charges of fraud in Kerala

625
0
SHARE
Ad

AMWAYMAY 29- The Kerala Police on Monday arrested network marketing firm Amway’s India CEO William S. Pinckney and two of the company’s directors on cheating charges.

Pinckney, Sanjay Malhotra and Anshu Budhraja were questioned earlier this month and asked to report to the police on Monday, when they were again interrogated by the Economic Offences Wing and later arrested by the Wayanad police.

The arrests were made on a warrant issued in three cases registered by the Wayanad Crime Branch in 2011 on charges of violation of the Price Chits and Money Circulation Schemes ( Banning Act), crime branch sources said.

#TamilSchoolmychoice

amwayAmway has been accused of selling low- priced products at inflated prices. The Kerala Police have registered four cases against Pinckney; three in Wayanad and one at Kozhikode.

In November last year, the crime branch had raided godowns of the company at Thrissur, Kozhikode, Kannur and Ernakulam and seized products worthRs.2.14 crore.

Following the raids, the company’s Kerala chief Rajkumar was arrested and the warehouses sealed.

Crime branch superintendent of police P. A. Valsan said the trio had been take to Wayanad and would be produced before court on Tuesday.

Meanwhile, an Amway press release said the company was “providing consistent support and cooperating with the investigations of the Kerala Police CBCID”.