labels: goldquest international, marketing - general
Chennai police end their quest, arrest three GoldQuest officials news
Venkatachari Jagannathan
25 August 2003

Chennai: Continuing its crackdown on network marketing companies, the Chennai city police have arrested three officials belonging to the high-profile GoldQuest International (www.goldquest.com). The police also sealed the company's head office while freezing its bank accounts.

For the GoldQuest officials, the police action came like the bolt from the blue as they were yet to recover from the excitement of the attractive show in a star hotel and the press meet held just a couple of days ago.

Acting on a complaint from one of the company's network member, the police arrested the officials under the Prize Chits and Money Circulation Scheme (Banning) Act and Section 420 of the Indian Penal Code.

According to the complaint, GoldQuest refused to give him the gold coin after paying Rs 16,800 on the ground that he failed to enlist 10 more members.

Ever since GoldQuest started its operations, the Chennai police trained its eyes on the company. Fearing police action, the company approached the court to get a restraint order against the law-enforcers.

Richard E Zinkiewicz, finance director and chief reputation officer, GoldQuest International, in a media release said the Indian subsidiary was set up only after proper legal counsel by three prominent Indian law firms.

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Chennai police end their quest, arrest three GoldQuest officials