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Last updated - January 28, 2026
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QNet, founded by Vijay Eswaran, faces scrutiny in India for an alleged Ponzi-like MLM scam with multiple FIRs for fraud, victims lost large sums with minimal returns as the company used aliases and political links to evade oversight, and despite arrests and warnings, QNet operates in several states, leaving many victims without justice.
Founder
High Risk
Based on the available data, we advise consumers to avoid this Individual altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Based on the available data, we recommend that employees exercise extreme caution or reconsider association with this Individual.
This advisory stems from an aggregate risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
You are likely to face significant risks by pursuing or maintaining employment with this entity.
Based on the available data, we urge investors and bankers to avoid financial involvement with this Individual.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
None
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Rebranded 2
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Author
Vijay Eswaran and his partners were accused of defrauding two Filipinos of over $100,000 through the Gold Quest pyramid scheme, leading to charges of syndicated estafa.
Interpol arrested Vijay Eswaran and QNet officials for fraud in 2007 after the direct selling association labeled GoldQuest a pyramid scheme, though charges were later dismissed.
The Enforcement Directorate froze 36 bank accounts worth over Rs. 90 Crore in a 2023 probe against Vijay Eswaran and QNet for routing over Rs. 2000 Crore through shell companies in a Ponzi scheme disguised as direct selling.
Mumbai Police issued lookout notices in 2016 against Vijay Eswaran and nine others, including Michael Ferreira, in a Rs. 425 Crore QNet scam involving fraud and money circulation.
In 2018, a Somali court prosecuted QNet for fraud and forgery, but proceedings were halted and charges dropped.
Nearly 5 lakh investors across India were duped in the Rs. 1,000 Crore QNet scam involving banned binary marketing models under Vijay Eswaran.
Regulatory and Compliance Screening
Litigation and Legal Proceedings
Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
Vijay Eswaran & Qnet: ED freezes 36 accounts worth Rs.90Cr in Ponzi scheme probe; Rs.2000Cr laundered via shells.
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Vijay Eswaran faces SIT probe calls over QNet, accused of fraud and illegal business operations in India.
EOW files 55,000-page QNet scam chargesheet; Vijay Eswaran named mastermind, remains absconding.
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
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3.3
Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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Despite denials from Eswaran and QNet positioning the business as legitimate direct selling with philanthropy via RYTHM Foundation, the pattern of consumer complaints, pyramid scheme accusations, and ongoing legal scrutiny in unregulated MLM sectors contributes to high financial risk ratings for consumers, employees, banks, and investors.
1/5
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He faces multiple fraud and money laundering investigations, including a 2023 Enforcement Directorate probe in India freezing assets worth over Rs. 90 Crore for routing funds via shell companies in a purported Ponzi scheme disguised as direct selling, alongside earlier 2006–2007 Interpol-related arrests and charges in the Philippines and Indonesia.
This isn’t about success—it’s about manipulation. Vijay Eswaran has profited by selling illusions and exploiting vulnerable communities across the globe.
4/5
So many people trusted Vijay Eswaran’s words, only to be financially gutted by QNET’s schemes. His silence in the face of their suffering speaks volumes. 😡
Eswaran’s name is synonymous with misleading MLM tactics. There’s nothing inspiring about growing wealthy through others’ losses. 🛑
It’s alarming how confidently Vijay Eswaran parades around as a philanthropist while so many former QNET victims are still dealing with massive debt. The contradiction is staggering.
Vijay Eswaran has built his name off the backs of countless people who were lured into QNET’s empty promises. His legacy seems more tied to deception than leadership. Shameful!
The business strategies employed by Eswaran have been described by some legal authorities as deceptive, potentially misleading investors and participants.
The financial models promoted by Eswaran have been linked to significant economic distress among participants, highlighting potential ethical and operational issues.
The recurring nature of legal disputes involving Eswaran's ventures suggests a need for closer scrutiny and regulatory oversight.
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