Six Held in Multi-State Crackdown on Alleged QNet-Linked Money Circulation Scheme
Hyderabad, June 11 (TNT): Hyderabad Police have arrested six persons across four states in connection with an alleged multi-level marketing and money circulation scheme operating under the name “IGNITE”, which investigators claim is a rebranded continuation of the controversial QNet network.
Announcing the arrests at a press conference here on Thursday, Hyderabad Police Commissioner C.V. Anand said the action was taken under “Operation Ignite Crackdown”, an early-intervention operation launched by the Central Crime Station (CCS), Detective Department, following complaints received from victims in the city.
He said the operation was initiated within 18 days of the incorporation of the scheme’s Indian entity, preventing what they described as a potential fraud involving thousands of crores of rupees.
According to investigators, three complaints were received between June 5 and 6 from victims who collectively lost about Rs 1.87 lakh after being recruited through WhatsApp messages, online presentations and direct approaches in Hyderabad.
The investigation revealed that all payments made by the victims were routed to a common bank account, indicating a coordinated fund collection mechanism.
The six arrested persons include recruiters, company directors and alleged facilitators from Uttar Pradesh, West Bengal, Kerala and the Delhi-NCR region.
Among those arrested are directors of Indi Konnect Ventures Pvt Ltd, identified by police as the Indian entity associated with IGNITE, and directors of a Kolkata-based company through which victim funds were allegedly routed.
Police said IGNITE is headquartered in Hong Kong and is allegedly linked to individuals previously associated with GoldQuest, QuestNet and QNet. Investigators claimed the organisation follows a recruitment-based compensation model and has established operational structures similar to those used by earlier entities.
According to police, Indi Konnect Ventures Pvt Ltd was incorporated on May 18, 2026, only weeks before the complaints surfaced.
Investigators alleged that the company’s business model, which includes commissions and rewards linked to recruitment, falls within the ambit of prohibited money circulation schemes under Indian law.
The probe has also uncovered what police described as an international money trail extending from victim payments in India through multiple intermediaries before reaching accounts linked to IGNITE’s overseas operators.
Authorities are examining transactions involving bank accounts, demand drafts, cryptocurrency transfers and overseas entities as part of the ongoing investigation.
The accused have been booked under various provisions of the Bharatiya Nyaya Sanhita relating to cheating, criminal breach of trust and criminal conspiracy, besides provisions of the Telangana Protection of Depositors of Financial Establishments Act, the Prize Chits and Money Circulation Schemes (Banning) Act and the Information Technology Act.
Police said further investigation is underway to identify additional beneficiaries, financial networks and victims linked to the alleged scheme.
TNT TS
