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Amway India Chairman, 2 Directors remanded to 14 days custody

Source : PTI
Last Updated: Tue, May 28, 2013 10:40 hrs
Police arrests Amway India chief, two directors on reported fraud charges

Kalpetta: Network marketing firm Amway's India Chairman and CEO William S Pinckney and two company directors have been remanded to 14 days judicial custody by a local court here.

Pinckney and directors Sanjay Malhotra and Anshu Budhraja were arrested by the Wayanad Crime Branch (Economic Offences) wing from Kozhikode yesterday in connection with three fraud cases registered in Wayanad district.

Kalpetta Judicial First Class Magistrate N Ravishankar last night remanded them for 14 days.

They were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints filed by two persons in 2011.

Last year the Crime Branch (Economic Offences wing) had conducted searches at the Amway offices at Thrissur, Kozhikode and Kannur districts as part of its crackdown on money chain activities.

The company's godowns in these centres were also closed and goods seized.




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