News From India

Fraud Quest Net

(Times of India 7th jan 2009)

Cops probe complaints of fraud in investment scheme

Pune: The Pune police are investigating a complaint made by at least 10 people in the city against a Chennai-based company, Quest Net, for allegedly duping them under its ‘Gold Quest’ scheme. The complainants alleged that more investors have been similarly cheated and the amount could run into crores. 

“We have received a complaint, and the case will be registered with the economic offences wing (EOW) of the city police. The deputy commissioner of the EOW has been directed to take immediate action,” additional commissioner (crime) Rajinder Singh told TOI on Tuesday. 

Rajendra Dahale, DCP (EOW), said, “We will appoint an officer to investigate the case. We will record the statements of the complainants and accordingly the case will be registered.”

Promising exponential gains in just two years, the company distributed coins claiming that they were rare numismatic products (gold coins, silver coins and precious metal medallions) and lured people for higher gains, said Gaurav Somani, one of the investors in the scheme. 

“We came to know about the fraud when some of the agents of the company operating in Sangli were arrested in the last week of December for duping people,” said Somani, who is into the construction business. 

“Later, we discovered that the Chennai police had frozen the assets of the company on May 28,” he told TOI. Elaborating on how they fell prey to the scheme, Girish Rathod, an MBA student, said two agents of the company were operating in Pune.

Finance company sealed, bank accounts frozen

By K. Manikandan

CHENNAI AUG. 21. With the arrest of Goldquest officials in Chennai, where the company's India headquarters is located, police claimed to have exposed yet another alleged money circulation racket. Over 50 members have filed complaints stating that the company owed around Rs 12 lakhs to them.

The arrested persons include Pushpam, a Malaysian citizen of Indian origin and company managing director, Joseph Augustine, accounts executive, and Pushpendra Kumar Shukla, public relations officer.

They were produced before Arul Raj, additional chief metropolitan magistrate at Egmore, who remanded them to judicial custody till August 27, according to an Inspector of the Central Crime Branch investigating the case.

The company office, located on the ninth floor of the Rain Tree complex on McNichols Road in Chetpet was `sealed' and its bank accounts frozen.

The CCB sources said cases were registered in April this year and investigations began following a complaint from an advocate, Chandrasekhar. He said he paid Rs 16,800 for purchasing a gold coin described as a collector's item by the company. According to him, he was informed that the coin would be handed over to him only if he introduced 10 more people to the company. As he was unable to bring 10 people into the network, the coin was not handed over nor was the cash returned to him.

The Inspector said though they received complaints from more than 50 people, they acted on the one lodged by Chandrashekar and added that complaints from the rest would also be amalgamated.

The complainants alleged that they paid sums ranging between Rs 16,800 and Rs 43,000, but neither did they receive the gold coin nor the cash return to them. The CCB personnel claimed that the arrests exposed a scam to the tune of around Rs 12 lakhs. They said a search was on for Vijay Eswaran and Jeevan Muktanandam who were reported to be in Malaysia.

According to S.S. Krishnamurthy, Deputy Commissioner of Police, CCB, cases had been registered against the company officials under provisions of the Prize Chits and Money Circulation Scheme (Banning) Act and section 420 of the IPC.

Though no spokesperson of the company was available for comment, some members, like K.Viswambharan of Natural Health Foundation who gathered near the CCB office, said the company did not insist on any one to be part of the network. "The customers can either make a part payment for the coin and pay the balance while collecting it, or participate in the network. This is the practice the world over, not in India alone", he pointed out.

The coins are minted at the Myers Mint in Germany and imported by the State Trading Corporation, he said and added there was no question of any financial irregularity at any level.

News From Azerbaijan

03 Mar 2009

Baku. Hafiz Heydarov - APA. “Some representatives of QuestNet in Azerbaijan deceived people,” chief manager of QuestNet for e-trade Volf Diiambor told the press conference in Baku, APA reports. 

Volf Diiambor noted that QuestNet operated in 160 countries and said the company was represented in Azerbaijan by the agency.

“The company’s representatives in Azerbaijan gave false information to people. We call people to join us consciously, while they deceived people and gave false information about the company. As far as I know some persons in Azerbaijan faked my documents,” he said.

Volf Diiambor said they decided to open a representation in Azerbaijan to change inaccurate impression about the company and added that they had started talks with the relevant bodies. Diiambor said he had been in Azerbaijani Interior Ministry and met with the detainees.

“The investigation will find out what crimes the detainees have committed. A large company should not be spotted because of some men. Our activity in Azerbaijan is quite legal,” he said.

Representative of QuestNet for Turkey, Central Asia and Azerbaijan Hanifi Ishgoren also accused the company’s representatives of deceiving people and giving false information in Azerbaijan.

“When I came to Baku I saw that people thought differently of QuestNet. It is impossible to earn millions immediately. Our representatives here gave false information to people,” he said.

Lawyer of the company Natig Abdullayev said that arrested men had not any guilt.

“Therefore 37 of 41 arrested men have been released,” he said. 

Abdullayev said that 6 officials of the company were arrested and two of them had been detained recently. 

“Our production has been confiscated in connection with operations carried out by Interior Ministry’s Department Combating Organized Crimes. Therefore we could not give production to the citizens. The company will give over 800 productions to citizens soon,” he said. 

The criminal group introduced itself as QuestNet Company extended its activity in the capital and other regions of the country promising the employment opportunities to citizens an involving the young people in the sale of jewelries. They sold goldsmith pieces for 800 -1500 USD, higher than its real prices. 

They extended their network on the basis of geometrical cycle, encouraging people with the workshops organized in their offices and promising to the active participants a place of marketing manager. They spent money receiving from the citizens to own high salaries, office rent and other communal expenditures.

The investigation showed that Azerbaijani manager of Hong Kong-based QuestNet Company Valeh Agayev, 42, organized the sale of jewelries to 5100 of 20 000 victims of a crime and nearly 15 000 citizens got left with promises of presents and employment.

Agayev brought the jewelries at the cost of 5-96 USD to Baku and distributed it among the citizens receiving payment in advance. Insignificant part of money was transferred to the account in Hong Kong bank and spent to purchase of cheap jewelries in Germany, but most part of the collected money was robbed turning in cash via electronic card.

41 people working at the sale centers of the company were detained. Valeh Agayev and his three aides were arrested. A criminal case was launched on article 178.3.1 (swindle by organized group) of the Criminal Code and the fact is under the investigation.

The Interior Ministry warned the citizens not to believe in encouraging promises, to be more vigilant and to inform the law-enforcement bodies about the illegal cases they face.




Term of imprisonment of Quest Net managers and three workers in Azerbaijan prolonged
[ 12 May 2009 18:35 ] 


Baku. Hafiz Heydarov – APA. Term of pre-trial imprisonment of Quest Net Company’s managers and three other workers in Azerbaijan was prolonged, the company’s lawyer Natig Abdullayev told APA. The term of investigation was prolonged for two months more because there are numerous losers and most things confiscated during the operation was not examined yet. The court of Narimanov District of Baku passed decision on prolongation of the term of the company’s manager on Azerbaijan Mirvaleh Aghayev and three others arrested in February for two months more. Then investigation is going on.

A transnational organized criminal group swindled the ordinary citizens and misappropriated their millions AZN was rendered harmless in February as a result of operational searches conducted by the Interior Ministry General Office for Combating Organized Crimes. “The criminal group extended its activity in the capital and other regions of the country promising the employment opportunities to citizens an involving the young people in the sale of jewelries. They sold goldsmith pieces for 800 -1500 USD, higher than its real prices. The investigation showed that Azerbaijani manager of Hong Kong-based QuestNet Company Valeh Agayev, 42, organized the sale of jewelries to 5100 of 20 000 victims of a crime and nearly 15 000 citizens got left with promises of presents and employment. 41 people working at the 23 sale centers of the company were detained. 37 of them were released later. Mirvaleh Agayev and his three aides were arrested”.

A criminal case was launched on article 178.3.1 (swindle by organized group) of the Criminal Code and the fact is under the investigation. 

[ 14 Feb 2009 10:54 ] 
Baku–APA. A transnational organized criminal group swindled the ordinary citizens and misappropriated their millions AZN was rendered harmless as a result of operational searches conducted by the Interior Ministry General Office for Combating Organized Crimes.

Press service of the Interior Ministry told APA, most members of the group were detained. 

The criminal group introduced itself as QuestNet Company extended its activity in the capital and other regions of the country promising the employment opportunities to citizens an involving the young people in the sale of jewelries. They sold goldsmith pieces for 800 -1500 USD, higher than its real prices.

They extended their network on the basis of geometrical cycle, encouraging people with the workshops organized in their offices and promising to the active participants a place of marketing manager. They spent money receiving from the citizens to own high salaries, office rent and other communal expenditures. 

The investigation showed that Azerbaijani manager of Hong Kong-based QuestNet Company Valeh Agayev, 42, organized the sale of jewelries to 5100 of 20 000 victims of a crime and nearly 15 000 citizens got left with promises of presents and employment.

Agayev brought the jewelries at the cost of 5-96 USD to Baku and distributed it among the citizens receiving payment in advance. 

Insignificant part of money was transferred to the account in Hong Kong bank and spent to purchase of cheap jewelries in Germany, but most part of the collected money was robbed turning in cash via electronic card.

859 pieces of jewelry, presents, computers, reports and other documents were confiscated during the inspection of the criminal group’s office in Binagadi District of Baku.

41 people working at the sale centers of the company were detained. Valeh Agayev and his three aides were arrested. A criminal case was launched on article 178.3.1 (swindle by organized group) of the Criminal Code and the fact is under the investigation.

The Interior Ministry warned the citizens not to believe in encouraging promises, to be more vigilant and to inform the law-enforcement bodies about the illegal cases they face. 

People suffered from the actions of above-mentioned criminal group are requested to contact 102 service of the Interior Ministry,




Comments: The Azerbaijani government prosecute their own people while the mastermind of the scam escape unscathe and their reputation still intact (not that they have any good reputation to speak of in the first place), as if QuestNet's business and it's modus operandi is unknown in other parts of the world, as of 2009... errr... errr... errr...

News From Afghanistan

Crippled by decades of war, the government of Afghanistan has little or no power to stop illegal or questionable enterprises. Now a classic investment swindle has entagled thousands of Afghans hoping for a brighter future. Gregory Warner reports.

KAI RYSSDAL: The U.S. State Department said today record poppy harvests in southern Afghanistan are giving the Taliban more money to work with. The crop translated into $4 billion worth of opium, the raw ingredient for heroin. The Afghan government officially opposes the opium trade. But illegal or otherwise, it's nearly impossible for the government there to shut down a questionable enterprise. The World Bank says Afghanistan has fewer protections for business investors than any other country in the world - which has made the country a magnet for scammers large and small. Gregory Warner reports.

GREGORY WARNER: It seemed too good to be true: Mahbub was 28, with his third baby, and a dead end-job in Kabul. And then he got a phone call from a trusted friend, with a job offer. The deal was this: If Mahbub would agree to buy a gold coin off a Web site, sold for about five times its value, then, they told him, he could make money if he got his friends to buy the coin.

WARNER: You mean, your best friend?

MAHBUB: Yes! Just bring your best friend!

And again when his friends signed up their friends. It's the definition of a pyramid scheme when your business income depends only on signing up new employees. Such schemes always run out of joiners. But Mahbub saw his big chance. So he borrowed $1,800 - 15 months' worth of salary - and he bought the coin. Then he called up his best friend and his favorite cousin.

In this way, a shady Internet outfit known as Quest Net, based in Hong Kong and illegal in many countries, has wooed 28,000 Afghans in two years. The appeal might be more than quick cash. Quest Net is not just not only about money in Afghanistan.

Wesal Zaman used to be a translator for the L.A. Times - one of the best paid jobs a young Afghan can have. He quit to devote himself to Quest Net.

WESAL ZAMAN: Because people do make money. But besides money, they learn how to talk, how to speak, how to love.

WARNER: How to love?

ZAMAN: How to love - not love girls! I mean love each other!

Zaman is full of slogans about positive thinking and teamwork -- techniques the company uses to obscure the fact that you're taking money from your friends and redistributing it upwards.

ZAMAN: They all believe that Afghanistan can be built, and they're the ones who are doing it.

Quest Net scammed thousands in Sri Lanka and Iran before the governments there stopped it. But when, earlier this month, Afghan President Hamid Karzai announced he was banning the business, Kabul exploded.

KABUL CROWD: Qwest Qwest Qwest Woo woo woo!

It's a chilly Sunday morning, and over a thousand young men are rallying in front of the presidential palace. The crowd is Western dressed, clean shaven. More Yankees hats than turbans here.

JAMI: We have vision! Our vision is a bright Afghanistan!

All the guys here bought the coin. If Quest stops now, they lose. So they wave signs that say: Fight corruption, not internet technology. They shout: Quest zindagee!

JAMI: Quest is life.

WARNER: Quest zindagee?

JAMI: Yes. Quest is life.

Quest, the Hong Kong-based company, is dignity, they shout. Quest is freedom. Qwest is service. Quest gives us hope for the future, says one boy, that our government doesn't.

The rally didn't work -- the government stuck to the ban. But the mood at Quest headquarters was victorious. In a room with fake flowers and commemorative coin posters, I watched young men in shiny suits nail up a big Quest Net banner for the local media.

Then they assembled on the couch in front of the microphones, like some new political party. Wesal Zaman is here. He says he's not going to stop the work.

ZAMAN: The government say what they say. We do what we do. We believe in what we do.

Though there is one group that seems able to stop Quest. When Zaman's friends came south to recruit in Kandahar, the Taliban left a letter on their door. It said: Get out, or we'll kill you. And the "businessmen" quickly retreated.

  

News From Rwanda

   

Declares Questnet illegal

  

NYARUGENGE - The National Bank of Rwanda’s (BNR) investigations into the business practices of Questnet have revealed that the company is operating a money swindling pyramid scheme and could be involved in money laundering, The New Times has learnt.

In an email sent to The New Times yesterday, the Central Bank said that Questnet is a pyramid scheme, which is collecting money from subscribers in Rwanda and sends it outside to companies called Park King Development and DBS Hong Kong using swift transfer. The Central Bank said its early investigations show that since January this year, Questnet has transferred a total of $500,000 (Rwf284 million) outside the country through illegitimate means.

The Hong Kong-based company has however insisted it is a direct selling entity that utilises network marketing to provide innovative products and business opportunities to its customers. According to BNR findings, the company uses multi-level marketing businesses, which sell real products like Bio-discs and small IT materials, which are imported via DHL.

“But the underlining objective is to recruit dealers and collect their enrolling fee,” said Angélique Kantengwa, Senior Director Financial Stability at BNR.

Kantengwa said that Questnet is a fraudulent company that is not licensed to operate business on Rwandan soil. She said that a successful pyramid scheme combines a fake, yet seemingly credible business with a simple-to-understand yet sophisticated money-making formula. According to the Central Bank, a weekly “interest” is paid to the member of Questnet who manage to bring two new recruits.

Katengwa said a certain amount of money is transferred to Park King Development and DBS Hong Kong on weekly basis. She added that the number of layers of the pyramid increases new recruits who find it harder and harder to sell the product because there are so many competing salesmen.

“Those near or at the top of the pyramid make a lot of money on their percentage of the enrolling fees and on commissions for the supplied products, but those at the bottom are left with inventories of products they can’t sell.”

“These schemes exploit greed and gullibility. To enhance credibility, most such scams are well equipped with fake referrals, testimonials and information.”

The Central Bank says that amounts dwindle steeply down as the pyramid slopes.

However, Rajesh Rao, the company’s Public Relations Manager told The New Times recently that direct marketing through network marketing is not about signing up as many people as possible, but getting the product to the market.

This is the second time this year the Central Bank is warning the public to be cautious about  the reappearance of pyramidal operations or get-rich-quick schemes in which people put their cash. On January 13, BNR issued a public warming about the illegal character of such schemes and on the risks run by promoters and people who agree to subscribe to those criminal activities.

“The National Bank of Rwanda calls upon the public to be cautious in order to avoid the risk of loosing their savings to criminals,” the BNR statement reads in part.

The bank said that the public must know that a pyramidal operation or a get rich quick is a fraudulent stratagem set up by individuals or a group of people with an aim of making money.

Though easy to understand, the pyramid scheme is still a sophisticated way of making money. Early this week, the Government of Rwanda banned the operations of questnet, one company which conducted its operations in Rwanda through independent representatives.

As a marketing company, questnet had a boast in its operations to have managed to cut across geographical boarders, race, tribes and religion as it created a global family of successful entrepreneurs.

According to a statement released by the Ministry of Finance, questnet had failed to meet the required tax procedures expected from a registered company. The statement read that, “It shall be compulsory to register a company in the Registrar’s General Office.”

It further indicated that, “Any person who sets up a business or other activities that may be taxable is obliged to register with the tax administration within a period of seven days, from the beginning of operating the business, or activity, or the establishment of the company.”

Despite, the business operation measures set in place, the statement also stated that there were illegal transactions by questnet like, using the pyramid scheme or chain referral scheme to acquire more customers from the public.

Eventually, the collected revenue from the sold products is transferred in and out of the country in an uncontrolled and unsupervised manner by the Central Bank.For this reason, the National Bank of Rwanda sanctioned its closure. However, by this time many Rwandan’s had already been connived and trapped into questnet’s pyramid scheme. 

Lambert Ingabire, was a former member of questnet. He expressed his disappointment to ‘The New Times’ as he came to terms with counting his losses.

He wondered whether there was a way of getting a refund but he had already started doubting the whole questnet movement.

“I don’t know who the leader of the movement is; I just know the people who made me join,” Ingabire said. 

He said that the group entices someone into buying their wellness and lifestyle products, jewellery, and one famous Bio Disc that charges the body with the right frequencies and prevents diseases.

According to amezcua.com, after many years of research of Bio energy and water, Dr. Ian Lyon came up with an amazing discovery of a Scalar-energy producing product known as the Bio Disc. A Bio Disc is a circular glass disc of approximately 9centimetres in diameter which is made through Heat Fusion and Nano technology.

The disc is believed to eliminate and nullify the effects of man-made frequencies within the human body. It is also believed to increase the energy level of every single body cell to an ideal level.

“With all the hype about the Bio Disc, it was hard to resist joining questnet. They even said that it could protect your DNA from damage,” Ingabire added.

“One needed to part with USD 630 to buy a Bio-Disc or even more depending on the product you wanted in order to join,” Ingabire added.

With this sort of a mouth to mouth marketing based business, he added that “you had to get people buy products and be put on a commission based payment.

The whole idea of the disc improving one’s immune system, cleansing of blood and also acting as an anti-depressant was the catch.”

“I also can’t tell how many members we were because it had really been long since I went to any of their meetings.

I had sort of quit because some people were negative about it when they kept on saying that it may be satanic,” said Ingabire.

Many Christians had doubted this company with the excuse that people could no longer preach Christ’s gospel but rather the questnet Gospel.

Through the Pyramid scheme, people were required to try and convince more people to join in order to make more profits and in return, members spent a lot of their time and energy ensuring that everyone around them knows about questnet.

Rose Kitakufe, a Ugandan questnet representative during a phone interview with ‘The New Times’said that she already makes good money through the business.She was even selected as one of the representatives to go to Kenya some time back to lure more people into the business.

Kitakufe assured that questnet is not a pyramid scheme as long as there are products sold to maintain the smooth running of the company.

“A pyramid scheme only fails at some point because of lack of trade in te movement and the lack of ways of generating more money,” she assured.

She further added that questnet is not bound to fail since their products are medically proven and have proved the test of time. For this reason Kitakufe said that QusetNet was genuine and hence many people are purchasing the products.

Despite all the various reasons given for questnet’s dealings, the Ministry of Finance’s statement confirmed that the chain referral earns commissions that are not declared in accordance with tax laws of the Republic of Rwanda.

karuthum@gmail.com

The recent blacklisting of questnet as a pyramid scheme was a wake up call; like our mothers told us “if something looks too good to be true, then don’t fall for it.” Some of us didn’t heed that advice and bought into this; some Rwandans have a “get rich quick” mentality that is too easy to exploit.

We are a booming nation where some are getting rich off hard work but others want a short cut; and the pyramid scheme is geared to that. The pyramid scheme has existed in various guises and is always being perfected to appeal to new customers.

Pyramid schemes take the form of various scams; such as “gifting circles” a hybrid of the scheme aimed at women – they can have good causes such as “helping women” with a portion of the scam money supposedly going to charity.

These gifting circles are nothing more than the classic pyramid where more people are brought in to pay the dividends for older clients. Sometimes cheap products like Aloe Vera are sold at extortionate prices with an elaborate sales pitch and marketing; so products worth $10 can be sold for $100 and customers are encouraged to sell on the products to other customers and the pyramid continues.

We have a number of legal measures to block such schemes but nothing can replace pure common sense; there is no such thing as something for nothing.

Even in America the disgraced Bernie Maddof redefined the Ponzi scheme for the 21st century with an elaborate pyramid that tricked even educated people.

Among his numerous victims was a professor of economics who should have known better; but even he was blinded by the lights and forgot his senses.

We have all received that email from the Nigerian Prince, whose father was a chief but recently died and left him $5,000,000 but due to a technicality the money is held up and all they need is the inheritance tax of 1% or $5,000 and you’ll get $20,000 as a personal thank you.

This sounds ridiculous but millions fall for this trick every year and the 401 is supposedly Nigeria’s second forex earner after oil, grossing over $1 billion.

It all comes down to common sense, patience, hard work – that is how you succeed because easy money goes as quickly as you earned it. The misery that pyramid schemes cause is terrible, they destroy families – Nairobi and Kampala in the early 90’s saw a rash of pyramid schemes that bankrupted a section of the middle-class.

Even after people had supposedly learned their lesson, the pyramid scheme evolved into something new and scammed again.

The pyramid scheme is successful because it mixes the two things that people crave; power and money. The man at the top of the pyramid has tremendous power and will benefit the most while lower minions will pay the price; it feeds on a need to suddenly change ones circumstances by getting rich all the time.

We have to understand that money is not the solution to our problems; our problems go deeper than that, they are in our character and habits we keep and not the money we have.

You would be better off to invest in a cooperative; bank or generally something producing tangible profits and not unsustainable pyramids.

The police and government will do their best but it falls on our shoulders to be alert; just remember what your mother said “if it looks too good to be true…

ramaisibo@hotmail.com

QuestNet - Suicidal & Plain Stupid

Too greedy... and really really retarded.

These scammers will have bloods in their hands... soon.

 

 

News From Malaysia

 

New Straits Times - May 8, 2007

Gus Dur lodges report against Vijayeswaran

by Amy Chew

INDONESIA'S former president Abdurrahman Wahid yesterday officially lodged a police report against Malaysian businessman Datuk Vijayeswaran S. Vijayaratnam for fraud and embezzlement.

Abdurrahman, affectionately known as Gus Dur, lodged the report through his lawyer, Ikhsan Abdullah.

"Gus Dur has instructed me to lodge a report with the police against Vijayeswaran Vijayaratnam and his colleagues," Ikhsan Abdullah told the New Straits Times in a telephone interview.

The report was lodged yesterday against Vijayeswaran and others for fraud and embezzlement. He added that this was a crime under article 370 and 372 of the Criminal Code.

Vijayeswaran and his colleagues had tried to cheat Gus Dur during his term in office from 1999-2001, offering to print gold coins bearing his picture and that of his grandfather, Hasyim Asyari.

But Gus Dur never gave them permission to use either his own picture or that of his grandfather, a highly-revered ulama who founded the country's largest Muslim organisation, Nahdlatul Ulama (NU) which claims 40 million followers.

Vijayeswaran and his partners allegedly used his multi-level marketing network to solicit funds from NU followers by offering to sell them gold coins bearing Gus Dur and Hasyim Asyari's pictures.

Some of the NU followers paid deposits to Vijayeswaran's network while some had paid the full price. The coin could cost anything from five million rupiah (RM1,900) to 100 million rupiah, said Ikhsan.

Vijayeswaran company's continued to solicit funds from the public even after Gus Dur stepped down as president, he added.

According to Ikhsan, many of the NU followers did not receive any gold coins after paying up.

And those who did receive their gold coins found that its gold content was far below the value which they paid for.

Vijayeswaran is being held at the Jakarta Metropolitan police detention house as the police investigate whether he has committed any crimes in the country.

"We arrested him because of a red notice from Interpol in the Philippines," said Ketut Untung Yoga, a spokesman for the Jakarta Metropolitan police.

"We do not know when he will be extradited. We are co-ordinating with the Filipino authorities," Ketut added.

Vijayeswaran was arrested last week after Gus Dur tipped off the police about the businessman's whereabouts.

 

 

New Straits Times / May 9, 2007

Vijayeswaran confident innocence will be proven

by Fay Angela D'Cruz

KUALA LUMPUR: "This is the most challenging time of my life."

Embattled Malaysian businessman Datuk Vijayeswaran S. Vijayaratnam, who is now being held in a Jakarta lock-up, told the New Straits Times in an exclusive interview that "I have embraced this challenge."

Replying to questions channelled through QI Limited group director of finance Richard E. Zinkiewicz, Vijayeswaran said he was sure he would be found innocent.

"My wife and I are confident we will come through because the truth will always shine."

He thanked the many supporters who have offered prayers for his speedy release.

"I believe God tests hardest the ones he loves the most.

"All over the world, my friends have been sending me messages of support through my people here."

Vijayeswaran said he was being treated well by his Indonesian jailors.

The 46-year-old group managing director of QI Limited is, however, not only depending on divine intervention to get him out of the pickle he is in.

His lawyers said they had lodged a police report against a consultant, a woman, who they accuse of manipulating a contract between Vijayeswaran and Gus Dur.

The woman was a former director of PT GoldQuest Indonesia, a subsidiary of QI Limited.

The lawyers said the woman was hired as the consultant in the deal to mint coins with the picture of Gus Dur and his grandfather, Hasyim Asyari, the founder of the country's largest Muslim organisation, Nahdlatul Ulama (NU).

It is learnt that Vijayeswaran's lawyers have copies of the contract which was signed by the Malaysian businessman and Gus Dur on May 2, 2003.

Vijayeswaran is being investigated for fraud and embezzlement by the Indonesian authorities.

An official from Indonesia's Interpol said Vijayeswaran would not be extradited to Quezon City until the case against him in Indonesia is settled, one way or the other.

"This means, the Malaysian businessman is going to be held longer than initially thought," he said.

It was reported that Gus Dur had lodged a report on Monday against Vijayeswaran for defrauding and embezzling millions of rupiah from members of NU.

"We are currently investigating Gus Dur's report. If we have evidence, we will charge him," the official said. "Vijayeswaran's extradition would then be delayed."

To date, the Philippine authorities have not given a date to extradite Vijayeswaran and his colleagues, according to the Interpol official.

Vijayeswaran's associates claim the charges in the Philippines arose because of a falling with his business partners there.

The group managing director of QI Limited was nabbed, along with three of his Filipino partners, in Jakarta last Thursday.

 

 

New Straits Times - Aug 8, 2007

Datuk V works on getting name out of Interpol's list

by Fay Angela D'cruz

PETALING JAYA: Datuk Vijayeswaran S. Vijayaratnam is back home.

After spending three weeks in a lock-up and another two months under house arrest in an apartment, he was cleared by the district court of south Jakarta.

The 46-year-old group managing director of QI Limited found his name and photograph in Interpol's Red Notice following police reports lodged by two of his Filipino partners.

He was arrested in Jakarta on May 3 this year.

He was brought to the district court for an extradition hearing to move him to the Philippines to face charges in connection with a US$50 million (about RM170 million) alleged fraud case dating back nine years.

"I was optimistic that justice will prevail as I am innocent. Although it took three months to clear my name, I was willing to wait for the law to take its course," he said.

He was released on July 31 after the court rejected an extradition order on the grounds that the matter was a civil case involving a financial agreement.

Vijayeswaran said, initially, the police were harsh and rude.

"They treated me like a criminal even though they had little idea of what the case was all about. My arrest was based on information from the Interpol and had nothing to do with my business activities in Indonesia."

He added that when the authorities received more information from the Philippines, including the fact that the fraud case was 10 years old, the authorities were kinder and allowed him to move into an apartment within the police complex.