The director of Questnet Enterprises India (Pvt) Ltd, Kamakshi Ranganathan, was arrested by CID sleuths in Hyderabad after being on the run for 15 years. Ranganathan is accused in a money circulation scheme case registered in 2008. She was remanded to judicial custody. TNN reported
The director of a private firm, Kamakshi Ranganathan, was arrested by the Crime Investigation Department (CID) of Hyderabad in connection with a money circulation scheme case that was registered by the Warangal police back in 2008. Ranganathan, who had been on the run for 15 years, was apprehended by the CID team from her residence in Chennai, and she was subsequently remanded to judicial custody by the local court in Warangal.
The case stems from a complaint filed by Md Fasiuddin in 2008 with the Matwada police in Warangal against G Madhava Rao and G Vidyavathi, who were promoters of Questnet Enterprises India (P) Ltd. Fasiuddin accused them of enticing him into a multi-level marketing business with false promises and making him pay ₹32,000 for the purchase of a gold coin. Additionally, he paid a registration fee of ₹460. Kamakshi Ranganathan is also implicated in this case.
Kamakshi Ranganathan had evaded arrest for the past 15 years, with the charge sheet naming her as an absconding accused. Two non-bailable warrants against her had been pending since then. The CID officials revealed that the complainant and other victims who had invested money in the fraudulent scheme did not receive the promised commission. The complainant also alleged that the company, through its members, promoted an illegal money circulation scheme by making false promises of gold coins with antique value. Many individuals joined the scheme by paying a substantial fee.
The Matwada police initially registered a case under Sections 420 and 385 of the Indian Penal Code, as well as Sections 4, 5, and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. The case was later transferred to the CID. Another similar case against the accused, registered in 2008 at the Geesukonda police station in Warangal, was also transferred to the CID.
Overall, Kamakshi Ranganathan’s arrest brings some closure to a 15-year-long investigation into a money circulation scheme that allegedly defrauded individuals through false promises of valuable gold coins..