The State Crime Investigation Department arrested an accused in the 2008-multi-level marketing scheme involving gold coins.
Accused no. 17 Sangisetti Naga Ravi Kumar, 45, who was evading court proceedings since 2017, was arrested from Satyanarayanapuram in Vijayawada, the police said on Saturday.
The case registered in Dornakal was about the promoters of M/s Questnet Enterprises India (P) Limited who lured customers for a multi-level marketing scheme in which they were required to pay a registration fee and buy a gold coin for ₹33, 000. The precious coins sold were also of lower value.
The promoters then were booked for cheating, putting people in fear of injury in order to commit extortion, and under provisions of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
