QuestNet - Dah Cukup Bukti Ke Blom?

   

 

 

New Straits Times - May 8, 2007

Gus Dur lodges report against Vijayeswaran

by Amy Chew

INDONESIA'S former president Abdurrahman Wahid yesterday officially lodged a police report against Malaysian businessman Datuk Vijayeswaran S. Vijayaratnam for fraud and embezzlement.

Abdurrahman, affectionately known as Gus Dur, lodged the report through his lawyer, Ikhsan Abdullah.

"Gus Dur has instructed me to lodge a report with the police against Vijayeswaran Vijayaratnam and his colleagues," Ikhsan Abdullah told the New Straits Times in a telephone interview.

The report was lodged yesterday against Vijayeswaran and others for fraud and embezzlement. He added that this was a crime under article 370 and 372 of the Criminal Code.

Vijayeswaran and his colleagues had tried to cheat Gus Dur during his term in office from 1999-2001, offering to print gold coins bearing his picture and that of his grandfather, Hasyim Asyari.

But Gus Dur never gave them permission to use either his own picture or that of his grandfather, a highly-revered ulama who founded the country's largest Muslim organisation, Nahdlatul Ulama (NU) which claims 40 million followers.

Vijayeswaran and his partners allegedly used his multi-level marketing network to solicit funds from NU followers by offering to sell them gold coins bearing Gus Dur and Hasyim Asyari's pictures.

Some of the NU followers paid deposits to Vijayeswaran's network while some had paid the full price. The coin could cost anything from five million rupiah (RM1,900) to 100 million rupiah, said Ikhsan.

Vijayeswaran company's continued to solicit funds from the public even after Gus Dur stepped down as president, he added.

According to Ikhsan, many of the NU followers did not receive any gold coins after paying up.

And those who did receive their gold coins found that its gold content was far below the value which they paid for.

Vijayeswaran is being held at the Jakarta Metropolitan police detention house as the police investigate whether he has committed any crimes in the country.

"We arrested him because of a red notice from Interpol in the Philippines," said Ketut Untung Yoga, a spokesman for the Jakarta Metropolitan police.

"We do not know when he will be extradited. We are co-ordinating with the Filipino authorities," Ketut added.

Vijayeswaran was arrested last week after Gus Dur tipped off the police about the businessman's whereabouts.


New Straits Times / May 9, 2007

Vijayeswaran confident innocence will be proven

by Fay Angela D'Cruz

KUALA LUMPUR: "This is the most challenging time of my life."

Embattled Malaysian businessman Datuk Vijayeswaran S. Vijayaratnam, who is now being held in a Jakarta lock-up, told the New Straits Times in an exclusive interview that "I have embraced this challenge."

Replying to questions channelled through QI Limited group director of finance Richard E. Zinkiewicz, Vijayeswaran said he was sure he would be found innocent.

"My wife and I are confident we will come through because the truth will always shine."

He thanked the many supporters who have offered prayers for his speedy release.

"I believe God tests hardest the ones he loves the most.

"All over the world, my friends have been sending me messages of support through my people here."

Vijayeswaran said he was being treated well by his Indonesian jailors.

The 46-year-old group managing director of QI Limited is, however, not only depending on divine intervention to get him out of the pickle he is in.

His lawyers said they had lodged a police report against a consultant, a woman, who they accuse of manipulating a contract between Vijayeswaran and Gus Dur.

The woman was a former director of PT GoldQuest Indonesia, a subsidiary of QI Limited.

The lawyers said the woman was hired as the consultant in the deal to mint coins with the picture of Gus Dur and his grandfather, Hasyim Asyari, the founder of the country's largest Muslim organisation, Nahdlatul Ulama (NU).

It is learnt that Vijayeswaran's lawyers have copies of the contract which was signed by the Malaysian businessman and Gus Dur on May 2, 2003.

Vijayeswaran is being investigated for fraud and embezzlement by the Indonesian authorities.

An official from Indonesia's Interpol said Vijayeswaran would not be extradited to Quezon City until the case against him in Indonesia is settled, one way or the other.

"This means, the Malaysian businessman is going to be held longer than initially thought," he said.

It was reported that Gus Dur had lodged a report on Monday against Vijayeswaran for defrauding and embezzling millions of rupiah from members of NU.

"We are currently investigating Gus Dur's report. If we have evidence, we will charge him," the official said. "Vijayeswaran's extradition would then be delayed."

To date, the Philippine authorities have not given a date to extradite Vijayeswaran and his colleagues, according to the Interpol official.

Vijayeswaran's associates claim the charges in the Philippines arose because of a falling with his business partners there.

The group managing director of QI Limited was nabbed, along with three of his Filipino partners, in Jakarta last Thursday.


New Straits Times - Aug 8, 2007

Datuk V works on getting name out of Interpol's list

by Fay Angela D'cruz

PETALING JAYA: Datuk Vijayeswaran S. Vijayaratnam is back home.

After spending three weeks in a lock-up and another two months under house arrest in an apartment, he was cleared by the district court of south Jakarta.

The 46-year-old group managing director of QI Limited found his name and photograph in Interpol's Red Notice following police reports lodged by two of his Filipino partners.

He was arrested in Jakarta on May 3 this year.

He was brought to the district court for an extradition hearing to move him to the Philippines to face charges in connection with a US$50 million (about RM170 million) alleged fraud case dating back nine years.

"I was optimistic that justice will prevail as I am innocent. Although it took three months to clear my name, I was willing to wait for the law to take its course," he said.

He was released on July 31 after the court rejected an extradition order on the grounds that the matter was a civil case involving a financial agreement.

Vijayeswaran said, initially, the police were harsh and rude.

"They treated me like a criminal even though they had little idea of what the case was all about. My arrest was based on information from the Interpol and had nothing to do with my business activities in Indonesia."

He added that when the authorities received more information from the Philippines, including the fact that the fraud case was 10 years old, the authorities were kinder and allowed him to move into an apartment within the police complex.

The Iranian Intelligence Ministry says 10 major members of a company called Viprol, which was involved in pyramid schemes, have been arrested.

Intelligence agents arrested the suspects in Tehran, Kerman, Bushehr, and some other provinces after several plaintiffs filed complaints against the company, an Intelligence Ministry official in charge of combating pyramid scam companies announced on Saturday, the Tehran Times reported. 

The company had been active in cyberspace under the guise of e-trade and investment in international stock markets, oil and gold markets, advanced industries, and arms sales. 

“They robbed people and then closed down their website. As a result of follow-ups by the ministry's agents, the main members of the network were identified and arrested,” the official added. 

The official also said some companies, which claim they have obtained official certification permits to run marketing activities via the Internet, have not been granted permits. 

In January, the Intelligence Ministry announced that 15 companies involved in pyramid schemes had been identified and forced to discontinue operations in Iran. 

Palinure, Inviting, Golden Village, FSG, Griffin and Gold Quest were some of the companies that were shut down in Iran. 

The source recalled that after the closure of over 410 offices of the pyramid company Gold Quest in Tehran, a large number of the leaders of the company said they were ready to halt their activities and somehow satisfy the people who had lost their money by investing in the fake company. 

Gold Quest is a global network marketing company that claims to be engaged in selling coins and watches that are said to have numismatic value. 

Network marketing companies work on the principle of the pyramid scheme, a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme. 

Network marketing differs from pyramid selling (pyramid schemes) in that the latter is a financial fraud and those who deal in this kind of business can be prosecuted based on a relevant law ratified in 2006, which imposes a ban on the activities of pyramid selling companies in Iran. 

According to the law, everyone who cooperates with these companies is disrupting the economic system of Iran and is legally responsible. 

Gold Quest, believed to be involved in one of the largest economic corruption cases in Iran's history, was banned in by Iran in 2005. Prosecutors found the pyramid company's activities have led to the exit of half a billion dollars from Iran. 

Pyramid schemes have been banned in many other countries, including the United States, Great Britain, France, Canada, Malaysia, Norway, Australia, New Zealand, Nepal, and Sri Lanka. 

AS/HGL 

Ponzi scheme victimizes thousands in Turkey

Friday, May 28, 2010

ISTANBUL - Daily News with wires

The Turkey branch of an international Ponzi scheme that collected millions of dollars from thousands of people has collapsed after police raids against the company.

Quest.net, which defines itself as an “international direct selling brand that utilizes network marketing combined with e-commerce,” victimized nearly 20,000 people in Turkey, according to government officials. The company, which is headquartered in Hong Kong, has been banned in many countries.

The scheme operates like an investment chain. People begin to invest an amount of money to be a part of the chain and then find new people to invest. The invested money is distributed between members while a big chunk of it flows up to the top of the pyramid.

The Quest.net system, which recruits members with the promise of becoming rich, has been banned in many countries including the United States, Iran, Albania, Sri Lanka, Malaysia, Indonesia and Afghanistan.

The Turkish Ministry of Industry and Trade has launched an extensive study on the issue, and nearly 60 members of the system have been taken into custody.

No official representation

The company does not have an office in Turkey. Nevertheless, it recruits members in home offices located in Istanbul districts, such as Bahçelievler, Kadıköy, Esenler, Zeytinburnu and Güngören.

The Ministry of Industry and Trade has filed a criminal complaint, alleging aggravated fraud, against Quest.net executives. The company has victimized nearly 20,000 people, taking millions of liras from them, said Minister Nihat Ergün, speaking to Anatolia news agency on Thursday. “The company has collected a great amount of money, varying between $570 and $2,500 from those people. Nearly more than 20 million liras have been raised,” Ergün said.

Turkey met with the Ponzi scheme in September 1997 with the “Titan” company. Hakan Kenan Şeranoğlu, who was previously a hairdresser in Germany, and his friend Vahit Gülal had established the scheme in Turkey’s western city of İzmir, collecting a total of 8.6 million liras from nearly 30,000 people. The founders and top executives of the system faced lengthy prison terms in 1998.

  

Canada regulators say Gold-Quest a Ponzi scheme

CALGARY, Alberta | Thu Jan 21, 2010 6:03pm EST


(Reuters) - Securities regulators in the Canadian province of Alberta said on Thursday that Gold-Quest International Inc was a classic Ponzi scheme that bilked investors out of $29 million with the promise of sky-high returns from foreign currency trading.

A panel convened by the Alberta Securities Commission said Gold-Quest, operated from Las Vegas but registered in Panama, promised investors an 87.5 percent return on money invested in the company for one year, as well as payments for convincing others to invest in the scheme.

The commission also said Gold-Quest illegally distributed securities in the province and made untrue statements about the safety of the investments and anticipated returns."Gold-Quest International Corp. raised approximately US$29 million from approximately 2,940 investors ... through a sham investment scheme that was both a classic Ponzi scheme and a classic pyramid scheme," the commission said.

The firm operated from June 2006 to May 2008, when it was shut down by the U.S. Securities and Exchange Commission. A number of such schemes, which use cash from new investors to pay returns to earlier participants, have been uncovered in North America since an estimated $65 billion swindle by financier Bernard Madoff was revealed in December 2008.

In its decision, the commission said Gold-Quest investors were told the firm had developed proprietary strategies for trading currencies, which generated high returns. However most of the money raised was paid out as commissions and the firm did no currency trading.

No officials from Gold-Quest could be immediately located for comment. The panel will meet again in March to decide on penalties.

(Reporting by Scott Haggett; editing by Rob Wilson)

Gold-Quest owners face fines, jail time if assets not surrendered

BY JOHN G. EDWARDS
REVIEW-JOURNAL

Posted: May 15, 2008 | 10:00 p.m.

A federal judge on Wednesday told representatives of an alleged Indian enterprise called Gold-Quest International that he would fine individuals up to $1,000 a day and order them jailed if they continued to violate his order to turn over assets to a receiver.

The Securities and Exchange Commission accused Gold-Quest, which operated out of 11086 Crystal Crest Court in Las Vegas, of cheating 2,100 U.S. and Canadian citizens out of a total of $27.9 million.

Investors were told Gold-Quest could make large profits trading foreign currencies, but the SEC alleges that Gold-Quest was operating a Ponzi scheme. In a Ponzi scheme, the first investors are paid by money from later investors.

U.S. District Judge Lloyd George on May 6 froze the assets of Gold-Quest and appointed Cook Receiver Services of Lenexa, Kan., to serve as receiver.

The receiver has located $148,000, or less than 1 percent of the money entrusted to Gold-Quest.

SEC officials say Gold-Quest defendants are defying the judge's order.

At the hearing Wednesday, the judge said he was sending deputy U.S. marshals to accompany the SEC in recovering records and assets from Gold-Quest.

"You better cooperate," George told John Jenkins, one of three individuals named as a defendant. "I entered the order, and I expect it to be complied with in every respect," the judge said.

George scheduled a hearing for May 23 so that Jenkins may show cause as to why he should not be fined $1,000 a day and jailed for violating the court order.

The judge questioned why Jenkins and Michael Howard Reed, who claims to be attorney general of the sovereign Little Shell Nation, were 45 minutes late for the hearing. Reed and Jenkins blamed their tardiness on traffic.

George also seemed annoyed that Jenkins left to feed a parking meter and was absent when the delayed hearing started.

Reed acknowledged that he had no law degree except from the Little Shell Nation, a tribe of 3,800 Indians living on a reservation that spans North Dakota, Montana and Canada.

The SEC says that neither the United States nor Canada recognize the tribe, but Reed told a reporter that President Lincoln recognized the tribe. All three individuals charged in the case -- Jenkins, Michael McGee and a man called Lord David Greene -- are members of the tribe, Reed said.

The other defendants didn't attend the hearing.

Reed said that Greene was out of the country. Michael McGee answered the phone at Gold-Quest shortly before the hearing. McGee said the lawsuit identified him as an owner of Gold-Quest but he said he was only an employee.

McGee said Gold-Quest was engaged in foreign exchange trading and wasn't operating a Ponzi scheme.

"There are a lot of things being printed that aren't true," McGee said.

"The SEC thinks a whole lot of things," he said. "I don't know that I want to continue this conversation."

Reed told the judge that the company was properly known as Little Shell Gold-Quest International.

"We're a sovereign nation, and we're immune from civil suit," Reed explained following the hearing.

Contact reporter John G. Edwards at jedwards@reviewjournal.com or 702-383-0420.

__________________________________

Oi! Scammers QNet meleis haramjadah:

What is fucking wrong with you people?

P/S: Nah, aku kasi korang semua senang nak rujuk.

Pegi kat sini: http://questnetscam.blogspot.com/

More infos coming... Let QNetters shit blood.