Mumbai: The Economic Offences Wing (EOW) of Mumbai Police, probing the alleged Rs 425-crore financial fraud involving Hong Kong-based multi-level marketing company QNet, will soon set up a Special Investigation Team (SIT) to expedite its probe.
The EOW is also exploring stringent legal options, which will make it mandatory for the suspects hiding abroad to turn up before investigators in Mumbai, police said.
"An SIT would be formed to speed up the investigation, which is moving at a snail's pace due the pile of other important cases," said a police officer.
The sensational Rs 5,600 crore scam at the controversial spot exchange NSEL is also being probed by the EOW.
With the EOW's attempts to make QNet case suspects appear before the investigators to record their statements turning futile, the authorities are figuring out serious legal options, which will make the arrest of the suspects inevitable if they do not co-operate with the police, the officer added.
"Some of the suspects are presently abroad and their statements are must to take the probe to the logical conclusion," the officer said.
The EOW had arrested team persons, including Susan Chatterjee, who is the ex-daughter-in-law of the former billiard champion Michael Ferreira, for allegedly duping investors by offering to sell products like magnetic disks, herbal products and holiday schemes through fraudulent practices.
The QNET has also been accused of using the banned binary pyramid business model for their multi-level marketing schemes to entice investors.
An FIR in the case was registered in August last year. The accused have been charged with cheating and forgery under relevant sections of the Prize, Chits and Money Circulation Schemes (Banning) Act 1978.
Bollywood actor Boman Irani's son Danesh was also found to be associated with the firm, following which police froze his bank account, blocking his Rs 25 lakh.
The EOW had issued look out notices against QNET founder Vijay Eswaran, former world Billiards champion Michael Ferreira and three business associates.
Ferreira's statement has been recorded a few weeks ago by police for his alleged role as part of the probe.
