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· 2017 looks like a busy year for IPOs but what startups are going to be catching the eyes and wallets of brands, media and investors? These ones. QNet Ltd, formerly known as QuestNet, GoldQuest, and QI Limited, is a Hong Kong-based multi-level marketing (MLM) company owned by the QI Group. Ike Anand Vice President, Strategy and Business Development Expedia group more info >. 17 Mins Ago. NEW YORK, Oct 27- Investors are increasingly pricing in the effect of a corporate tax cut into the shares of U.S. companies, leaving the market primed. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more.

Qnet - Wikipedia. QNet Ltd, formerly known as Quest.

Net, Gold. Quest, and QI Limited, is a Hong Kong- based multi- level marketing (MLM) company owned by the QI Group. The company markets a variety of products including energy, weight management, nutrition, personal care, home care, and fashion accessories on an e- commerce platform.[3] It operates legally in some countries, but has also been charged with fraud and multi level marketing in countries such as India.[4][5]Contents. Background. 2History. Business model. 4Products. Controversies. 5. India, Philippines, Cambodia and Nepal)5. Indonesia)5. 3. 20.

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Background[edit]QNet was founded in 1. Hong Kong by a Malay businessman Vijay Eswaran.[6] Though born and brought up in Malaysia, Eswaran underwent his higher education in the United Kingdom where he learnt how multi level marketing schemes work. He subsequently worked in the Philippines in a multi level marketing company prior to setting up his own MLM company which he called QNet.[7]It subsequently kept changing its name and sprung up at least 7.

Bombay High court order of May 2. Showtime Full The Last Starfighter Online Free. Common people (called IR in QNet parlance) were taught to sell these products (often through workshops), upon which they would receive commissions for each new seller / buyer brought into the fold.

Since it was first introduced in 1. Qnet (doing business at the time as Questnet) promoted gold and silver coins with an MLM system. But the coin collection business was touted as a money game and declared illegal in some countries. Though registered in Hong Kong, the company has never actually carried out operations in Hong Kong or China, and its majority customer base remains in India and a few African countries. A few years later Questnet came up with a new name, Qnet and offered various other products via the MLM system.[9] It promotes its products on its website using claims "that would not pass official muster in much of the world."[1.

Despite claiming to be an e- commerce based business, an ordinary retail customer can make a purchase of a product from the website only if they have a referrer ID of an independent representative of QNet.[1. Qnet used websites/servers viz., www. Indian Computer emergency response team (CERT) following a court order. Other websites like portal. Despite complaints, the company continues operate in a number of countries including India, and sells its products using a multi- level marketing model, whereby independent representatives refer the products to consumers and receive compensation based on the sales volume of their referrals and the sales volume of other independent representatives in their teams who are arranged in a binary fashion.[1.

As per its website, the company has operations in more than 3. Indonesia, Malaysia, Hong Kong, Philippines, United Arab Emirates, Thailand, Taiwan, Vietnam, Saudi Arabia, Egypt, Côte d'Ivoire and Rwanda with franchise companies in India. Singapore and Turkey.[1. It was sued by Egypt,[1. Rwanda,[1. 9][2. 0] and Sri Lanka[2. The company and its franchise Vihaan are also being investigated in India.[2.

The Bombay High Court denied the anticipatory bail plea of all the directors of Vihaan Direct Selling Pvt Ltd., a franchise of QNet, which included world amateur billiards champion Michael Ferreira after it was earlier rejected by Sessions Court. They were facing charges of cheating and forgery [2. The court observed that "the deceit and fraud is camouflaged under the name of e- marketing and business".[2. The Delhi High Court also called it a multi- victim scam and refused to quash FIR against the directors of Indian franchise of Qnet, Vihaan Direct Selling Private Limited.[2. The Serious Fraud Investigation Office, in its report on Gold. Quest and Quest. Net India has called multi- level marketing (MLM) schemes run by overseas operators as "a potential threat to national security".

The Government of India ordered the Serious Fraud Investigation Office to file prosecution against Gold. Quest International and Quest. Net Enterprise under the Companies Act and Indian Penal Code.[2. A brief executive summary of the SFIO report is now available in the public domain.[3. The company has denied the allegations.[1. QNet's operations tend to be franchised out to local companies, thus allowing the head office to earn while relieving it of liability and responsibility from local and national cases of fraud.[3. History[edit]. Global Support Centre of Qi group (The Qi Tower) in Petaling Jaya.

QNet, the main subsidiary of the QI Group of Companies, was founded by Vijay Eswaran and Joseph Bismark in Hong Kong in 1. The company, first known as Gold.

Quest and Quest. Net, made custom- commissioned commemorative coins and later began selling jewelry and watches.[1. In 2. 00. 0, QNet was the official distributor of the Sydney Olympic Games commemorative coins and was also a distributor at the 2. Athens Olympic Games and 2. Beijing Olympic Games.[3.

In 1. 99. 9, QNet expanded its operations to Malaysia and Singapore and began a partnership with B. H. Mayer's Mint, a German- based mint coin facility.[3. The company expanded its operations to Dubai, India, Indonesia and Thailand during 2. QNet started to diversify its products in 2.

QVI Club brand holidays.[3. During this time, the company also announced that it was the official coin distributor for the 2. FIFA World Cup and an expansion into Europe, Australia and Sri Lanka.[3. QNet became a licensed distributor for FIFA in 8. July 2. 00. 4.[3. In 2. 00. 5, QNet acquired QI Comm, a British telecommunications company.[1. The company announced that it had more than 1 million independent distributors during the introduction of the asp.

IRe Magazine.[3. 3] In 2. QNet began marketing energy, health and nutritional products.[1. That same year, QNet acquired Prana Resorts and Spa, a vegetarian holiday resort in Koh Samui.[3.

QNet also acquired the Swiss watchmaker, Cimier.[3. In 2. 00. 7, the QI Group acquired Down To Earth (DTE), a vegetarian organic health store chain in Hawaii.[3. The company announced an initial sponsorship of Team Meritus, a Malaysian motor racing team, and became a sponsor for the Commonwealth Heads Of Government Meeting Business Forum in 2.

From 2. 00. 7 and 2. QNet's direct sales increased by 7. From 2. 00. 9 to 2. QNet was an official sponsor of the Asian Football Confederation during the AFC Champions League.[citation needed] In 2. Virgin Racing.[4.

Qnet received the TRUSTe Privacy Certification in late 2. In 2. 01. 3, Qnet announced its intention to shift its manufacturing operations to India and to open an office in Russia.[4.

The company's QI Tower in Malaysia received the 2. Building and Construction Authority (BCA) Green Mark Gold Award.[4. In 2. 01. 4, Qnet started a three- year partnership with Manchester City football club to become the club's official direct selling partner.[4. Business model[edit]. A typical MLMbinary tree structure.

The blue individual will receive compensation from the sales of the downline red members. The company employs a multi- level marketing model whereby a group of independent representatives refer its products to consumers and receive compensation based on the sales volume of their referrals and the sales volume of other independent representatives in their teams who are arranged in a binary fashion.[4. Questnet uses multi- level marketing to sell its products and services. Customers can choose to become "independent representatives" (IRs) of the company paying $1.

IRs receive 2. 50$ commission after they introduce the products to six people, placing three people on their left and three people on their right, described as two 'legs'.