Former world billiards champion Michael Ferreira, along with three others, was taken into custody by Hyderabad police on Wednesday, in a case pertaining to a Rs 400-crore fraud involving the multi-level marketing company QNet.
Ferreira is a notable amateur player of English billiards from India, and a three-time Amateur World Champion. He became the first billiards player to be awarded a Padma Bhushan, the third-highest civilian award in India, in 1983.
QNet and its franchisee firms allegedly sold products such as magnetic disks with "healing" properties, herbal medicines and holiday schemes. The company is accused of using the banned "binary pyramid" model in its marketing schemes, apart from duping the investors. The Mumbai Police's Economic Offences Wing had taken them into custody earlier on September 30 to investigate the case. Nineteen people have been arrested by the EOW so far.
"The four directors of the company, including Michael Ferreira, have been brought to Hyderabad from Mumbai on warrant," a senior police official attached to Central Crime Station, a wing of Hyderabad police said.